Essential Auction News

David Sandeman, Managing Director Welcome to the April newsletter that primarily reviews the auction statistics for March 2009. March saw the percentage sold rate hold almost steady at 73% (February 2009 was 74%).

Having spent the last 6 years in our Church Street office in Regiate we have moved a few hundred yards to Charter House, 9 Castlefield Road, Reigate, Surrey, RH2 0SA. The offices are a self contained newly refurbished building with more space for our ever increasing range of activities. Our phone numbers and e-mails remain the same and all visitors are welcome so if you ever find yourself in Reigate do drop in.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk

National Auction Analysis

March 2009 saw a fall in all sectors in the number of lots offered, lots sold and amount raised. The positive news is that as noted above, the sales rate has stayed in the 70's at 73%. Overall lots offered in March 2009 was 2,538 (March 2008 - 3,273 and Mach 2007 - 3,153) and amount raised in March 2009 was £247,064,110 (March 2008 - £400,561,156 and March 2007 - £669,672,070). The decline in lots offered and amount raised was similar in both residential and commercial sectors at 22% down on lots offered and 37%-40% for amount raised.

Total

  Last Month Last Quarter Last Year
March 2009 March 2008 Increase January - March 2009 January - March 2008 Increase April 2008 - March 2009 April 2007 - March 2008 Increase
Lots Offered 2,538 3,273 -22.5% 6,506 7,939 -18.1% 36,395 37,873 -3.9%
Lots Sold 1,844 2,179 -15.4% 4,813 5,595 -14.0% 23,754 26,599 -10.7%
Percent Sold 73% 67% 9.1% 74% 70% 5.0% 65% 70% -7.1%
Total Raised £247,064,110 £400,561,156 -38.3% £645,745,495 £1,043,444,076 -38.1% £3,445,914,559 £5,419,099,660 -36.4%

Residential

  Last Month Last Quarter Last Year
March 2009 March 2008 Increase January - March 2009 January - March 2008 Increase April 2008 - March 2009 April 2007 - March 2008 Increase
Lots Offered 2,101 2,708 -22.4% 5,462 6,392 -14.5% 30,182 30,559 -1.2%
Lots Sold 1,517 1,747 -13.2% 4,045 4,382 -7.7% 19,536 21,009 -7.0%
Percent Sold 72% 65% 11.9% 74% 69% 8.0% 65% 69% -5.8%
Total Raised £163,058,260 £259,280,656 -37.1% £458,670,485 £682,846,907 -32.8% £2,426,294,176 £3,510,018,676 -30.9%

Commercial

  Last Month Last Quarter Last Year
March 2009 March 2008 Increase January - March 2009 January - March 2008 Increase April 2008 - March 2009 April 2007 - March 2008 Increase
Lots Offered 437 565 -22.7% 1,044 1,547 -32.5% 6,213 7,305 -14.9%
Lots Sold 327 432 -24.3% 768 1,213 -36.7% 4,218 5,582 -24.4%
Percent Sold 75% 76% -2.1% 74% 78% -6.2% 68% 76% -11.2%
Total Raised £84,005,850 £141,280,500 -40.5% £187,075,010 £360,597,169 -48.1% £1,019,620,383 £1,902,665,984 -46.4%

Regional Auction Analysis

With the exception of the North East, all regions saw at least 60% of the properties sell. The North East overall was 59.2%, well up on the mid 30's we were seeing last year.

East Anglia

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 158 205 -22.9%
Lots Sold 110 170 -35.3%
Percent Sold 69.6% 82.9% -16.0%
Total Raised £22,987,350 £31,899,500 -27.9%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 131 150 -12.7%
Lots Sold 92 119 -22.7%
Percent Sold 70.2% 79.3% -11.5%
Total Raised £10,848,600 £21,305,000 -49.1%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 27 55 -50.9%
Lots Sold 18 51 -64.7%
Percent Sold 66.7% 92.7% -28.1%
Total Raised £12,138,750 £10,594,500 14.6%

East Midlands

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 515 648 -20.5%
Lots Sold 397 484 -18.0%
Percent Sold 77.1% 74.7% 3.2%
Total Raised £37,707,400 £69,537,410 -45.8%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 425 525 -19.0%
Lots Sold 332 377 -11.9%
Percent Sold 78.1% 71.8% 8.8%
Total Raised £26,889,900 £41,701,850 -35.5%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 90 123 -26.8%
Lots Sold 65 107 -39.3%
Percent Sold 72.2% 87.0% -17.0%
Total Raised £10,817,500 £27,835,560 -61.1%

London

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 764 904 -15.5%
Lots Sold 636 711 -10.5%
Percent Sold 83.2% 78.7% 5.8%
Total Raised £153,019,950 £251,999,850 -39.3%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 699 811 -13.8%
Lots Sold 587 632 -7.1%
Percent Sold 84.0% 77.9% 7.8%
Total Raised £125,369,950 £203,548,350 -38.4%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 65 93 -30.1%
Lots Sold 49 79 -38.0%
Percent Sold 75.4% 84.9% -11.3%
Total Raised £27,650,000 £48,451,500 -42.9%

North-East

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 576 566 1.8%
Lots Sold 341 329 3.6%
Percent Sold 59.2% 58.1% 1.8%
Total Raised £31,764,435 £46,717,347 -32.0%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 537 506 6.1%
Lots Sold 312 291 7.2%
Percent Sold 58.1% 57.5% 1.0%
Total Raised £27,991,375 £32,812,847 -14.7%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 39 60 -35.0%
Lots Sold 29 38 -23.7%
Percent Sold 74.4% 63.3% 17.4%
Total Raised £3,773,060 £13,904,500 -72.9%

North-West

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 1075 1282 -16.1%
Lots Sold 729 784 -7.0%
Percent Sold 67.8% 61.2% 10.9%
Total Raised £75,565,725 £96,606,700 -21.8%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 905 1049 -13.7%
Lots Sold 617 629 -1.9%
Percent Sold 68.2% 60.0% 13.7%
Total Raised £48,339,175 £63,989,750 -24.5%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 170 233 -27.0%
Lots Sold 112 155 -27.7%
Percent Sold 65.9% 66.5% -1.0%
Total Raised £27,226,550 £32,616,950 -16.5%

North-West Home Counties

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 346 411 -15.8%
Lots Sold 256 313 -18.2%
Percent Sold 74.0% 76.2% -2.8%
Total Raised £50,638,500 £83,168,801 -39.1%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 281 335 -16.1%
Lots Sold 209 249 -16.1%
Percent Sold 74.4% 74.3% 0.1%
Total Raised £31,492,250 £51,324,801 -38.6%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 65 76 -14.5%
Lots Sold 47 64 -26.6%
Percent Sold 72.3% 84.2% -14.1%
Total Raised £19,146,250 £31,844,000 -39.9%

Scotland

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 149 234 -36.3%
Lots Sold 95 169 -43.8%
Percent Sold 63.8% 72.2% -11.7%
Total Raised £8,628,835 £23,403,313 -63.1%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 102 149 -31.5%
Lots Sold 62 97 -36.1%
Percent Sold 60.8% 65.1% -6.6%
Total Raised £5,017,485 £7,294,253 -31.2%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 47 85 -44.7%
Lots Sold 33 72 -54.2%
Percent Sold 70.2% 84.7% -17.1%
Total Raised £3,611,350 £16,109,060 -77.6%

South-East Home Counties

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 823 985 -16.4%
Lots Sold 664 741 -10.4%
Percent Sold 80.7% 75.2% 7.2%
Total Raised £99,688,650 £162,471,505 -38.6%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 661 788 -16.1%
Lots Sold 541 587 -7.8%
Percent Sold 81.8% 74.5% 9.9%
Total Raised £66,119,900 £99,598,106 -33.6%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 162 197 -17.8%
Lots Sold 123 154 -20.1%
Percent Sold 75.9% 78.2% -2.9%
Total Raised £33,568,750 £62,873,399 -46.6%

South-West

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 447 600 -25.5%
Lots Sold 376 431 -12.8%
Percent Sold 84.1% 71.8% 17.1%
Total Raised £50,109,200 £76,754,400 -34.7%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 311 437 -28.8%
Lots Sold 255 292 -12.7%
Percent Sold 82.0% 66.8% 22.7%
Total Raised £33,087,150 £44,622,100 -25.9%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 136 163 -16.6%
Lots Sold 121 139 -12.9%
Percent Sold 89.0% 85.3% 4.3%
Total Raised £17,022,050 £32,132,300 -47.0%

Wales

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 402 551 -27.0%
Lots Sold 290 367 -21.0%
Percent Sold 72.1% 66.6% 8.3%
Total Raised £27,006,550 £43,555,850 -38.0%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 333 442 -24.7%
Lots Sold 242 287 -15.7%
Percent Sold 72.7% 64.9% 11.9%
Total Raised £18,909,300 £25,931,850 -27.1%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 69 109 -36.7%
Lots Sold 48 80 -40.0%
Percent Sold 69.6% 73.4% -5.2%
Total Raised £8,097,250 £17,624,000 -54.1%

West Midlands

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 589 872 -32.5%
Lots Sold 425 629 -32.4%
Percent Sold 72.2% 72.1% 0.0%
Total Raised £38,634,550 £88,919,300 -56.6%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 499 684 -27.0%
Lots Sold 363 479 -24.2%
Percent Sold 72.7% 70.0% 3.9%
Total Raised £27,611,550 £57,007,800 -51.6%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 90 188 -52.1%
Lots Sold 62 150 -58.7%
Percent Sold 68.9% 79.8% -13.7%
Total Raised £11,023,000 £31,911,500 -65.5%

Yorkshire and The Humber

Total
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 657 670 -1.9%
Lots Sold 491 456 7.7%
Percent Sold 74.7% 68.1% 9.8%
Total Raised £49,733,350 £67,183,100 -26.0%
Residential
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 573 505 13.5%
Lots Sold 430 332 29.5%
Percent Sold 75.0% 65.7% 14.1%
Total Raised £36,732,850 £32,483,200 13.1%
Commercial
January 2008 - March 2009 January 2007 - March 2008 Increase
Lots Offered 84 165 -49.1%
Lots Sold 61 124 -50.8%
Percent Sold 72.6% 75.2% -3.4%
Total Raised £13,000,500 £34,699,900 -62.5%


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