Essential Auction News

David Sandeman, Managing Director Welcome to Augusts' newsletter giving a round-up of recent auction activity. The key pointers are the steady overall sale rate of 73% (June 2009 was 71%), and the slight increase in the amount raised from £470.5M to £490.7M when compared with July 2008. The past few months have seen the sales rate in the low 70's, just a few points off the long term average and all the signs are that this is set to continue.

I do hope that you will all have the opportunity to take at least a few days off over the holiday period for a well earned rest from this challenging market.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk

National Auction Analysis

Overall the market performed well when compared with July 2008. The sale rate was very similar for both residential and commercial, though it was the commercial auctions that lead to the overall amount raised increasing by 4.1%. July 2009 saw the resurgence of the London commercial auction market and the amount raised in this sector was up 42.4%. The residential market raised 16.6% less than July 2008, partly due to the dramatic fall in the number of repossessions coming to market.

Total

  Last Month Last Quarter Last Year
July 2009 July 2008 Increase May - July 2009 May - July 2008 Increase August 2008 - July 2009 August 2007 - July 2008 Increase
Lots Offered 3,571 4,712 -24.2% 8,546 11,615 -26.4% 32,384 37,981 -14.7%
Lots Sold 2,618 2,854 -8.3% 6,238 6,927 -9.9% 23,033 24,675 -6.7%
Percent Sold 73% 61% 21.0% 73% 60% 22.4% 71% 65% 9.5%
Total Raised £490,807,696 £470,495,848 4.3% £1,077,929,216 £1,183,083,122 -8.9% £3,312,984,096 £4,625,095,505 -28.4%

Residential

  Last Month Last Quarter Last Year
July 2009 July 2008 Increase May - July 2009 May - July 2008 Increase August 2008 - July 2009 August 2007 - July 2008 Increase
Lots Offered 2,744 3,824 -28.2% 6,742 9,350 -27.9% 26,817 30,746 -12.8%
Lots Sold 2,009 2,257 -11.0% 4,899 5,418 -9.6% 19,016 19,477 -2.4%
Percent Sold 73% 59% 24.0% 73% 58% 25.4% 71% 63% 11.9%
Total Raised £256,210,706 £305,880,491 -16.2% £640,877,664 £759,069,869 -15.6% £2,264,937,349 £2,961,832,593 -23.5%

Commercial

  Last Month Last Quarter Last Year
July 2009 July 2008 Increase May - July 2009 May - July 2008 Increase August 2008 - July 2009 August 2007 - July 2008 Increase
Lots Offered 827 888 -6.9% 1,804 2,265 -20.4% 5,567 7,226 -23.0%
Lots Sold 609 597 2.0% 1,339 1,509 -11.3% 4,017 5,190 -22.6%
Percent Sold 74% 67% 9.5% 74% 67% 11.4% 72% 72% 0.5%
Total Raised £234,596,990 £164,615,357 42.5% £437,051,552 £424,013,253 3.1% £1,048,046,747 £1,656,847,912 -36.7%

Regional Auction Analysis

As is usually the case, variations across all the measurable parameters can be seen across the regions.

East Anglia

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 303 410 -26.1%
Lots Sold 227 248 -8.5%
Percent Sold 74.9% 60.5% 23.9%
Total Raised £42,553,400 £36,055,450 18.0%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 238 343 -30.6%
Lots Sold 178 205 -13.2%
Percent Sold 74.8% 59.8% 25.1%
Total Raised £21,960,900 £25,988,150 -15.5%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 65 67 -3.0%
Lots Sold 49 43 14.0%
Percent Sold 75.4% 64.2% 17.5%
Total Raised £20,592,500 £10,067,300 104.5%

East Midlands

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 597 981 -39.1%
Lots Sold 445 587 -24.2%
Percent Sold 74.5% 59.8% 24.6%
Total Raised £52,736,426 £85,913,350 -38.6%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 447 812 -45.0%
Lots Sold 336 472 -28.8%
Percent Sold 75.2% 58.1% 29.3%
Total Raised £30,747,600 £52,976,350 -42.0%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 150 169 -11.2%
Lots Sold 109 115 -5.2%
Percent Sold 72.7% 68.0% 6.8%
Total Raised £21,988,826 £32,937,000 -33.2%

London

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 982 1144 -14.2%
Lots Sold 786 770 2.1%
Percent Sold 80.0% 67.3% 18.9%
Total Raised £251,929,600 £225,792,363 11.6%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 868 1014 -14.4%
Lots Sold 691 672 2.8%
Percent Sold 79.6% 66.3% 20.1%
Total Raised £188,160,100 £171,249,863 9.9%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 114 130 -12.3%
Lots Sold 95 98 -3.1%
Percent Sold 83.3% 75.4% 10.5%
Total Raised £63,769,500 £54,542,500 16.9%

North-East

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 606 751 -19.3%
Lots Sold 319 403 -20.8%
Percent Sold 52.6% 53.7% -1.9%
Total Raised £34,377,286 £48,963,000 -29.8%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 525 679 -22.7%
Lots Sold 273 352 -22.4%
Percent Sold 52.0% 51.8% 0.3%
Total Raised £24,775,036 £34,605,500 -28.4%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 81 72 12.5%
Lots Sold 46 51 -9.8%
Percent Sold 56.8% 70.8% -19.8%
Total Raised £9,602,250 £14,357,500 -33.1%

North-West

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 1313 1759 -25.4%
Lots Sold 906 945 -4.1%
Percent Sold 69.0% 53.7% 28.4%
Total Raised £95,389,027 £122,381,885 -22.1%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 1052 1342 -21.6%
Lots Sold 716 717 -0.1%
Percent Sold 68.1% 53.4% 27.4%
Total Raised £53,608,577 £75,294,689 -28.8%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 261 417 -37.4%
Lots Sold 190 228 -16.7%
Percent Sold 72.8% 54.7% 33.1%
Total Raised £41,780,450 £47,087,196 -11.3%

North-West Home Counties

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 394 664 -40.7%
Lots Sold 320 428 -25.2%
Percent Sold 81.2% 64.5% 26.0%
Total Raised £102,685,600 £106,650,100 -3.7%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 287 540 -46.9%
Lots Sold 232 343 -32.4%
Percent Sold 80.8% 63.5% 27.3%
Total Raised £42,419,600 £62,659,850 -32.3%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 107 124 -13.7%
Lots Sold 88 85 3.5%
Percent Sold 82.2% 68.5% 20.0%
Total Raised £60,266,000 £43,990,250 37.0%

Scotland

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 213 300 -29.0%
Lots Sold 138 182 -24.2%
Percent Sold 64.8% 60.7% 6.8%
Total Raised £19,902,900 £23,097,800 -13.8%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 128 189 -32.3%
Lots Sold 79 96 -17.7%
Percent Sold 61.7% 50.8% 21.5%
Total Raised £6,660,000 £7,176,050 -7.2%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 85 111 -23.4%
Lots Sold 59 86 -31.4%
Percent Sold 69.4% 77.5% -10.4%
Total Raised £13,242,900 £15,921,750 -16.8%

South-East Home Counties

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 986 1574 -37.4%
Lots Sold 800 958 -16.5%
Percent Sold 81.1% 60.9% 33.3%
Total Raised £162,889,707 £190,002,830 -14.3%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 780 1275 -38.8%
Lots Sold 643 760 -15.4%
Percent Sold 82.4% 59.6% 38.3%
Total Raised £95,812,921 £115,786,730 -17.3%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 206 299 -31.1%
Lots Sold 157 198 -20.7%
Percent Sold 76.2% 66.2% 15.1%
Total Raised £67,076,786 £74,216,100 -9.6%

South-West

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 747 1018 -26.6%
Lots Sold 559 660 -15.3%
Percent Sold 74.8% 64.8% 15.4%
Total Raised £101,024,850 £102,200,250 -1.2%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 501 740 -32.3%
Lots Sold 359 451 -20.4%
Percent Sold 71.7% 60.9% 17.6%
Total Raised £51,797,550 £69,643,250 -25.6%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 246 278 -11.5%
Lots Sold 200 209 -4.3%
Percent Sold 81.3% 75.2% 8.1%
Total Raised £49,227,300 £32,557,000 51.2%

Wales

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 659 783 -15.8%
Lots Sold 481 465 3.4%
Percent Sold 73.0% 59.4% 22.9%
Total Raised £47,950,475 £58,961,750 -18.7%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 500 625 -20.0%
Lots Sold 377 359 5.0%
Percent Sold 75.4% 57.4% 31.3%
Total Raised £30,318,185 £37,815,950 -19.8%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 159 158 0.6%
Lots Sold 104 106 -1.9%
Percent Sold 65.4% 67.1% -2.5%
Total Raised £17,632,290 £21,145,800 -16.6%

West Midlands

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 968 1271 -23.8%
Lots Sold 704 729 -3.4%
Percent Sold 72.7% 57.4% 26.8%
Total Raised £102,750,345 £97,646,375 5.2%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 773 1002 -22.9%
Lots Sold 567 547 3.7%
Percent Sold 73.4% 54.6% 34.4%
Total Raised £57,571,245 £59,786,725 -3.7%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 195 269 -27.5%
Lots Sold 137 182 -24.7%
Percent Sold 70.3% 67.7% 3.8%
Total Raised £45,179,100 £37,859,650 19.3%

Yorkshire and The Humber

Total
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 777 948 -18.0%
Lots Sold 552 546 1.1%
Percent Sold 71.0% 57.6% 23.3%
Total Raised £63,574,600 £84,780,969 -25.0%
Residential
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 642 777 -17.4%
Lots Sold 447 438 2.1%
Percent Sold 69.6% 56.4% 23.5%
Total Raised £36,880,950 £45,449,762 -18.9%
Commercial
May 2009 - July 2009 May 2008 - July 2008 Increase
Lots Offered 135 171 -21.1%
Lots Sold 105 108 -2.8%
Percent Sold 77.8% 63.2% 23.1%
Total Raised £26,693,650 £39,331,207 -32.1%


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