Property auctions are set to remain an important tool in helping shift homes and land across Northern Ireland, it has been suggested by Lambert Smith Hampton.

The claim comes as the number of residential property sales reached their highest levels since 2007, during the last three months of 2014.

The commercial property company revealed that 93% of its lots up for grabs in auctions during 2014 were sold - raking in almost £9m.

Lambert Smith Hampton's Daphne Mahon said auctions were providing a strong platform for customers seeking good prices in Northern Ireland.

But Conor Mulligan, managing director of house builder Lagan Homes, said home buyers should exercise serious caution when buying property through auctions.

"They are very difficult places. If your hand goes up, and you are the highest bidder, then that's it," he said.

"And it also has often been a dumping ground for property - while there may be a jewel in there, the majority would be someone getting rid of a house."

And sellers often end up getting a much lower price than if they flogged their properties on the open market, Mr Mulligan said.

"I wouldn't put my houses on it - you won't get the same value and people are expecting it to sell for a lower cost."

The residential property price index from the Northern Ireland Statistics and Research Agency includes auction sales and cash purchases of houses.

But other house price surveys, including the University of Ulster survey, do not.

According to the RPPI, there were 20,200 residential property transactions in 2014, up 22% on 2013, and the highest since 2007.

Mr Mulligan said: "Auction sales account for a tiny part of the overall property sales in Northern Ireland.

"In 2014 there were around 20,000 property transactions, while auctions make up just a few hundred."

But property auctions still remain a successful tool in shifting residential and agricultural land, he said.