In Property News this week:

• Mortgage approvals hit 64,000 in June—tracking with the 12-month average—signalling stable demand.
• Mortgage lending surges to £5 billion, the second-highest monthly figure since October 2022.
• Rents up again: The average UK monthly rent climbs 0.4% to £1,313, amid fierce competition and dwindling rental stock.

This week’s guest: Philip Farrell

Russell is joined by Philip Farrell, CCO and Founder at Offr.io, the company behind a platform that lets estate agents run fully digital auctions directly from their own websites.

With 30 years in estate agency behind him, Philip explains why the traditional house-buying process is stuck in the past—and how modern, tech-powered auctions could finally bring speed, transparency, and certainty to UK property sales.

• One in three deals collapse: Learn why buyers walk away—and why most of it comes down to poor visibility and paper-based delays.
• From cattle markets to click-to-bid: Philip busts the myths about auctions and explains how Offr.io is dragging the process out of the 1970s and into the 21st century.
• The future is digital: With 42% of offers now made outside business hours, estate agents who fail to modernise may find themselves left behind.

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