Vendors are increasingly turning to property auctions as a first and not a last resort.

The claim comes from Pattinson Auction, which says that last year it saw an increase of 53% in units sold.

The firm also said that its partnerships with agents exceeded expectations, with a 38% increase.

Pattinson said there was a “significant” rise in the popularity of online auctions.

Sales highlights last year included a property in Newcastle which had over 100 viewings prior to auction and sold for two and a half times over the starting bid.

Auction director Justin Beckwith said: “I’m feeling very optimistic about 2020. Last year we certainly saw an increase in vendors turning to auction as a first attempt rather than a last resort.”

Other auctioneers reporting confidence include Auction House London, which says that post-election, “investors are keen to get stuck in to more projects” and that this year looks promising.

Midlands-based Bond Wolfe Auctions, which launched a year ago and holds its sales at Aston Villa football ground, says it thinks it will “see the floodgates open” this year as sellers seek to maximise asset values.