The property auction market enjoyed another strong set of sales results over the summer, according to the latest figures, which showed that some 2,932 lots were sold in July – the highest number recorded in July since 2007 – raising just over £467m in the process.

The residential sector saw positive gains in every metric measured. Auctioneers sold 2,334 residential lots in July which was up 17% on July 2012, whilst double-digit rises in amounts raised were evident for the month, rolling quarter and rolling year, up 37%, 19% and 11% respectively.

The commercial auction sector witnessed slight falls in lots offered and lots sold during July, down 7% and 4.6% respectively, but aside from that minor dip the rest of the figures are largely positive. The sale rate for all types of auction property remains healthy, having stabilised in the mid-seventies which is comparable to the long term average.

Property auction activity slowed in August, as it is traditionally one of the quieter periods in the auction calendar, due to the summer break, however September auctions have now commenced, so we'll keep you posted on this month's activity.