Essential Auction News
Welcome to the January newsletter that looks back at auction activity in December and preceding periods
December's figures epitomise the results seen through much of 2018, with double-digit falls in lots offered (down 10%), lots sold (down 12%) and total raised (down 14%). The ongoing Brexit turmoil leaves an outlook that remains uncertain, at least in the short term. The entire property market, private treaty included, is seemingly on tenterhooks whilst parliament continue to try and negotiate a way out of the mire.
Overall Statistics - December 2018
Auctions Held in the UK 100
Total Lots Offered 3,324
Total Lots Sold 2,461
Percent Sold 74%
Total Realised £453,696,181
National Auction Analysis
The residential market saw lots offered fall by almost 11% last month, from 3,078 lots to 2,752 lots. Sales dropped 14%, to 2,016 lots, whilst the amount raised fell 12.5% to £297.6M.
In the commercial market the falls were less exaggerated, with lots offered down 7.7% to 572 lots and lots sold down 3.1% to 445 lots. The amount raised decreased by over £33M to £156.1M (down 17.7%), but one notable positive was a 5% increase in the sale rate to almost 78%.
View the full newsletter results
A word from the Editor:
As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general, and may I take this opportunity to wish you a happy and prosperous New Year!
David Sandeman - Managing Director, EIG