With more purchasers than ever before now buying property online, Bamboo Auctions reports that agents have sold almost £70m worth of property through their online auction platforms over the past three months.

Bamboo Auctions work with a number of agencies and auction houses across the UK, including Clive Emson Auctioneers, Fisher German, Hunters and Bradleys, enabling purchasers to buy and sell properties online, rather than through the traditional auction rooms.

Growth is continuing and Bamboo Auctions, which was one of the UK’s first online property auction marketplaces, having launched in 2015, has almost 200 properties listed in October and November across several agent websites, according to Robin Rathore, CEO of the company.

He said: “Our presence in the market was growing quickly prior to lockdown, and during this period of time we’ve been showing our value in the market.

“The market is bouncing back rapidly at the moment, and online auctions are a great way to ensure certainty in the transaction. Whilst conveyancing is catching up on the backlog of transactions, properties sold by online auction already have legal packs in place and so are completing faster.

“Our customers have complete control of their own online auction platforms, and don’t need to depend on outsourced providers for auction revenue. We were there to support our customers and help them to generate revenue in a safe way, throughout the lockdown period.

“Whatever happens in the future, our online auction technology will continue to provide a fantastic opportunity for agents to win more instructions and generate revenue faster, whilst retaining complete control over the service to their vendors.”