Strong regionalised performance has fuelled a buoyant start to 2015 for short-term lenders in the property auction market, according to Auction Finance.

The growth in short-term funds facilitated for properties at auction has been driven by rising demand in Scotland the North West and the East Midlands. From January to March, Auction Finance reported a 207% increase in funds provided in Scotland compared to the same period in 2014.

Impressive figures were also reported in the North West, where the value of funds provided rose by 173%, the East Midlands, where the increase was 73%, and London which saw a rise of 69%.

Speaking about the positive start to 2015, Scott Hendry, director at Auction Finance, said: “The figures we are seeing coming out of Scotland, the North West, the East Midlands and London bode well for both the property auction industry and specialist short-term finance providers such as ourselves. 2014 was a good year for the sector and these figures show that there is also evidence of strong regional performance this year. There is plenty of reason to be optimistic about the outlook for the future.”