Welcome to the October newsletter:
Looking back at auction activity in September and preceding periods
I am pleased to report on a strong set of auction results, with 3,793 lots offered across 162 auctions (up 4% on September 16). The gavel fell on 2,857 lots, up almost 9% on last year, whilst total revenues exceeded £451M - up over 15% and the largest amount recorded in September since 2007.
Overall Statistics September 2017
Auctions Held in the UK 162
Total Lots Offered 3,793
Total Lots Sold 2,857
Percent Sold 75.3%
Total Realised £451,008,361
National Auction Analysis
The residential auction sector witnessed a bumper month, with lots offered up 6.7% to 3,371 lots and lots sold up 11% to 2,546 lots - the largest volume of September sales recorded since 2012. This helped push residential revenues up and over £403M; a £61M gain on last year and figures which are indicative of a competitive market with bidders seemingly not unnerved by talk of impending interest rate rises.
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