Buying through the conventional route can take months and is notorious for collapsing at the last minute. Gazumping, chain breaks, and buyers changing their minds are all common.

At a traditional auction, the process is different. When the hammer falls, contracts are exchanged. You typically pay a 10% deposit on the day and complete within around 28 days, though the terms are set out in the legal pack. That certainty is valuable for sellers and buyers alike, and it lets investors move quickly and recycle capital into their next project.