Welcome to the May newsletter that looks back at auction activity in April and preceding periods
11 property auctions were held across the UK last month, 28 fewer than in April 2016, so it is perhaps unsurprising to see falls in both lots offered and lots sold - down 9.5% and 8.6% respectively. The amount raised also decreased, from £242M in April 2016 to £215M in April 2017 - an 11.3% drop.
The decline in activity reflects what has been seen in the wider estate agency and lettings market, and with the current uncertainty surrounding the general election and Brexit, may continue in the immediate future.
Auctions Held in the UK 111
Total Lots Offered 2,227
Total Lots Sold 1,647
Percent Sold 74%
Total Realised £214,755,965
National Auction Analysis
The residential auction market saw falls of around 10% in lots offered and lots sold, with similar double-digit falls also evident in the rolling quarterly figures. The commercial auction market was relatively unchanged last month, with 7 fewer lots offered compared to April 2016 (333 lots to 326 lots) and just 1 less sale.
A word from the editor: I welcome any feedback or questions you may have about our newsletters or the wider market in general.
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By Beth Fox