EIG December 2017 Newsletter - Essential Auction News

Industry News

EIG December 2017 Newsletter - Essential Auction News

18 December 2017

 

Welcome to the December newsletter

Looking back at auction activity in November and preceding periods 

As highlighted last month, several major auctioneers held their Autumn auction in October this year compared with November last year. This resulted in large double-digit gains made in October, but conversely large double-digit losses in November, as can be seen in the figures below.

Considering the above, one should look to the rolling quarterly figures for a more accurate representation of the market's health. These show increases in lots offered and sold, by 3.8% and 5% respectively, and a 9.6% increase in the amount raised - up over £109M to £1.24bn. These are certainly encouraging numbers, especially given that the market made a sluggish start to 2017. 
 

Overall Statistics November 2017

Auctions Held in the UK   112
Total Lots Offered             1,874 
Total Lots Sold                   1,336
Percent Sold                       71.3%
Total Realised                    £196,384,128

National Auction Analysis 

The residential sector has performed very strongly since the summer break, as proven by the rolling quarterly figures shown below. Residential lots offered was up almost 5% on the same period last year, from 7,503 lots to 7,871 lots, whilst sales grew by almost 6% to 5,815 lots.
There was very little change in the volume of commercial lots offered or sold over the last 3 months. However, the amount raised grew by a staggering 24% - up from £285M to £355M, which suggests a recent increase in commercial lot sizes.

 

A word from the editor:  

May I take this opportunity of wishing you all a peaceful and relaxing holiday and prosperous new year!

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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By Beth Fox