Property auctions were once seen as the preserve of seasoned developers and cash-rich professionals. Today they are one of the most accessible and transparent routes into the UK property market, and for investors who do their homework, they offer real advantages over buying through a traditional estate agent.

Here is one of the reasons why I believe auction properties deserve serious consideration, and what you need to know before you raise your paddle.

The most obvious attraction is price. Auction properties often come from motivated sellers: lenders repossessing assets, executors settling estates, landlords offloading tired stock, or councils disposing of surplus property. Because these sellers usually prioritise a quick, certain sale over squeezing out the highest price, buyers can sometimes secure properties at a discount to open market value.