Despite the turbulent conditions felt by thousands of mortgage borrowers, 2023 was a good year for property auctions. Last year saw a 16.6pc increase in the number of property auction lots brought to sale in the UK compared to 2022, and a 13pc increase in the number sold successfully under the gavel, according to figures from EIG property auctions. Jeremy Lamb, director of auctions at Savills, said auctions’ rising popularity is set to continue. “And it is quite a good time at the moment to buy something at auction because there is less competition than at more boom times for the market,” he said. “If they reduce interest rates in the second half of this year then you may see more competition.” There are outdated views of buying property this way, Mr Lamb added – that properties up for sale at auction are damaged or trickier than those on the private market – but that is no longer necessarily the case. So, could buying property at auction be the route to buying your dream home? Telegraph Money takes you through what you need to know: Who can buy a property at auction? What is the auction process? Can you get a...