EIG Newsletter February 2018 - Latest property auction results now available

Welcome to the February newsletter that looks back at auction activity in January and preceding periods. Just 9 auctions were held across the UK last month, offering 430 lots (up 5%), selling 316 lots and raising £26M (down 15%).
Given the very small sample set it is difficult to draw any meaningful conclusions from the results. However, the quietest month in the auction calendar is now behind us and we're currently in the midst of one of the busiest. Around 4,000 lots are expected to go under the hammer in February so do look out for next month's newsletter which will provide a far more accurate account of today's market. 

409 residential lots were offered in January - a 4% increase on last year (393), but the amount raised dropped by £5M to £25M (down 16%). There were no major commercial auctions held in January, so the 21 commercial lots offered were by regional, predominantly residential auctioneers.
The rolling yearly figures show very marginal falls in the number of residential lots offered and sold, but the sale rate averaged a very healthy 76.5% over that period. The commercial sector has seen a more marked drop in lots offered and sold over the last 12 months - down 6% and 5.9% respectively, however the sale rate has remained strong at 79.3% and the amount raised largely comparable.