Last month saw a 12% drop in the number of properties sold at auction, and revenue fell by 15%, compared to June 2015.
The latest Essential Information Group figures show £277.1m was raised in June, down from £326.9m last June.
The number of lots offered was down by 10% to 2,662, and the success rate was 73.7%, compared with 75.9% the year before.
EIG managing director David Sandeman attributed the decline to the period of uncertainty caused by the EU referendum and political upheaval.
He added: “However, it should be noted that these numbers are still high when compared with the years of recovery that followed the property crash in 2008-09.
“History also shows us that the auction market is usually very quick to respond, and I expect confidence to return before long. Indeed, a cursory glance at July’s catalogues indicate a busy period ahead.”
The commercial market suffered the most severe losses, with 267 lots sold – 30% fewer than last June. There were 25% fewer lots offered in June than in the same month in 2015.
Commercial revenues fell by 7% to £33.9m. However, quarterly and yearly figures show year-on-year revenue increases of 14% and 12%, to £300.5m and £1.4bn respectively.
The residential auction market saw falls of 6.6% in lots offered and 8.8% in lots sold between June 2015 and 2016, and a 16.3% decrease in the amount raised.
However, in the second quarter of this year, 254 more lots were offered than in the same period in 2015 – a 3.8% increase.
There was a 1.9% increase in lots sold, to 5,129, and the amount raised grew by 4% to £785.8m.
Year-on-year quarterly receipts grew in East Anglia, the North East, North West, Home Counties, South West, West Midlands, and Yorkshire and the Humber.
They fell in the East Midlands, London, Northern Ireland, Scotland and Wales.
The capital’s overall success rate was 76%, compared with 86.3% the year before.
