Would-be home buyers looking to get onto the property ladder should consider going to auction, it has been claimed.

According to Lucian Cook, a spokesman for estate agency Savills, said people should see auctions as an option when it comes to buying a property.

However, Mr Cook added, "the majority" of people will be unaware that they can purchase a new property in this way.

"If they are confident at buying at auction then it is something they should consider," he remarked.

In related news, houses bought at auction cost significantly less in 2008 than they did in 2007, according to figures published by the Liberal Democrats.

The party''s treasury spokesman Lord Matthew Oakeshott said the average price of a property sold at auction between June and August of this year was £130,400.

This is 23.4 per cent less than the average price of property on the housing market during the same period, which was £170,300.

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