Welcome to the November newsletter that looks back at auction activity in October and preceding periods.
150 auctions were held across the UK last month, 12 fewer than in October 2015, so it is perhaps unsurprising to see a fall in both lots offered (down 4.1%) and lots sold (down 3.3%) when compared with last year. The total amount raised saw a more substantial drop, down 14.3% £518M to £444M.
I would like to take this opportunity to announce that Essential Information Group were proud winners at this year's Negotiator Awards, taking gold in the "Supplier of the Year: Technology" category.
We have been providing services and technical solutions to the property auction industry for over 26 years, and winning this award is testament to the hard work and dedication put in by every member of the team who all strive to deliver a first-class service which I do hope you enjoy and benefit from.
Overall Statistics October 2016
Auctions Held in the UK 150
Total Lots Offered 3,133
Total Lots Sold 2,327
Percent Sold 74.3%
Total Realised £443,558,195
National Auction Analysis
In the residential sector lots offered fell by 6.7% last month, from 2,465 to 2,300 lots, whilst lots sold fell 6.2% from 1,790 to 1,679 lots. Conversely, commercial lots offered rose 4%, from 801 lots to 833 lots, and lots sold increased by 5.2% from 616 to 648 lots. The amount raised fell in both sectors, by 21% in residential and a more modest 5.5% in commercial.
A word from the editor - As ever I welcome any feedback you may have regarding the newsletters or the wider market in general.