Industry News

Auction News - EIG Newsletter Sept 2018

Publish Date: 19 September 2018

By Beth Fox

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Auction News - EIG Newsletter Sept 2018

Further reading

EIG Newsletter August 2018 - Essential Auction News

David Sandeman to address NAVA Annual Conference

Essential Auction News

Welcome to the September newsletter that looks back at auction activity in August and preceding periods.

As is usually the case, a large portion of the industry took a break in August, with only 51 auctions held across the UK. The auctioneers that were active enjoyed a broadly successful month, with overall lots offered and sold up 18% and 20% respectively, and total raised increasing by almost 12% to £77M.

That being said, one swallow doesn't make a summer, and the notable falls witnessed in June and July are still prevailing as evidenced in the rolling quarterly figures.
Let's hope that the industry returns with renewed confidence for the busy Autumn schedule ahead. 

Overall Statistics - August 2018

Auctions Held in the UK   51
Total Lots Offered             1,031 
Total Lots Sold                   742
Percent Sold                       72%
Total Realised                    £76,511,646 

National Auction Analysis

The vast majority of the 1,031 lots offered last month were residential lots, and these saw increases of 21% on last year - from 801 to 970 lots. Residential sales climbed 24%, from 568 lots to 703 lots, whilst residential market revenues gained £10M on last year - a rise of 15%.

Only a handful of commercial lots went under the hammer last month, so no meaningful conclusions can be drawn from the commercial results (shown in the full newsletter). 
 
View the full newsletter results. 

A word from the editor:  

As ever I would welcome any comments or feedback you may have regarding the newsletter or indeed the wider market in general.

Kind regards,

David Sandeman 

 

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