Essential Auction News

David Sandeman, Managing Director Welcome to July's newsletter giving a round up of recent auction activity. Regular readers will know that volumes through the auction rooms have been decreasing over the last 2 years. June was no exception, though the drop in overall total raised only fell 3.5% compared with June 2008, and is the lowest fall this year. (April 2009 saw a 48% fall on April 2008). This could be signs of the auction market levelling out.

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National Auction Analysis

The overall percent sold rate remained steady at 71% for June - the same as for May, and this is 14 percentage points above June 2008. The sale rates are also higher when compared with previous quarters and years (with the exception of the yearly commercial figure -4.3%), indicating more realism in the auction market as regards vendor's expectations. July is always a busy month and so it will be interesting to see the trends in next month's newsletter.

It is not advisable to use these overall figures to try and ascertain house price movements as every month sees a different mix of properties being offered by type, size, tenure, tenancy and location, so simply dividing the amount raised by number of lots offered will not necessarily be comparing similar properties, and will not therefore give a true indication as to average house price movements.

Total

  Last Month Last Quarter Last Year
June 2009 June 2008 Increase April - June 2009 April - June 2008 Increase July 2008 - June 2009 July 2007 - June 2008 Increase
Lots Offered 2,687 3,070 -12.5% 7,321 10,192 -28.2% 33,537 37,709 -11.1%
Lots Sold 1,908 1,752 8.9% 5,267 6,120 -13.9% 23,093 25,056 -7.8%
Percent Sold 71% 57% 24.4% 72% 60% 19.8% 69% 66% 3.6%
Total Raised £232,350,933 £240,815,410 -3.5% £751,615,495 £1,041,300,772 -27.8% £3,265,432,048 £4,931,951,440 -33.8%

Residential

  Last Month Last Quarter Last Year
June 2009 June 2008 Increase April - June 2009 April - June 2008 Increase July 2008 - June 2009 July 2007 - June 2008 Increase
Lots Offered 2,301 2,642 -12.9% 5,964 8,242 -27.6% 27,909 30,443 -8.3%
Lots Sold 1,637 1,472 11.2% 4,270 4,819 -11.4% 19,110 19,739 -3.2%
Percent Sold 71% 56% 27.7% 72% 58% 22.5% 68% 65% 5.6%
Total Raised £207,731,457 £200,564,365 3.6% £524,814,084 £670,083,226 -21.7% £2,293,735,134 £3,128,374,455 -26.7%

Commercial

  Last Month Last Quarter Last Year
June 2009 June 2008 Increase April - June 2009 April - June 2008 Increase July 2008 - June 2009 July 2007 - June 2008 Increase
Lots Offered 386 428 -9.8% 1,357 1,950 -30.4% 5,628 7,257 -22.4%
Lots Sold 271 280 -3.2% 997 1,301 -23.4% 3,983 5,309 -25.0%
Percent Sold 70% 65% 7.3% 73% 67% 10.1% 71% 73% -3.3%
Total Raised £24,619,476 £40,251,045 -38.8% £226,801,411 £371,217,546 -38.9% £971,696,914 £1,797,161,985 -45.9%

Regional Auction Analysis

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

East Anglia

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 249 316 -21.2%
Lots Sold 181 199 -9.0%
Percent Sold 72.7% 63.0% 15.4%
Total Raised £21,941,500 £30,435,500 -27.9%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 208 262 -20.6%
Lots Sold 153 167 -8.4%
Percent Sold 73.6% 63.7% 15.4%
Total Raised £14,073,000 £21,634,000 -34.9%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 41 54 -24.1%
Lots Sold 28 32 -12.5%
Percent Sold 68.3% 59.3% 15.2%
Total Raised £7,868,500 £8,801,500 -10.6%

East Midlands

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 526 868 -39.4%
Lots Sold 401 547 -26.7%
Percent Sold 76.2% 63.0% 21.0%
Total Raised £39,582,426 £80,396,500 -50.8%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 421 736 -42.8%
Lots Sold 323 454 -28.9%
Percent Sold 76.7% 61.7% 24.4%
Total Raised £30,901,900 £51,536,000 -40.0%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 105 132 -20.5%
Lots Sold 78 93 -16.1%
Percent Sold 74.3% 70.5% 5.4%
Total Raised £8,680,526 £28,860,500 -69.9%

London

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 733 815 -10.1%
Lots Sold 551 535 3.0%
Percent Sold 75.2% 65.6% 14.5%
Total Raised £170,272,150 £178,293,813 -4.5%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 662 728 -9.1%
Lots Sold 501 470 6.6%
Percent Sold 75.7% 64.6% 17.2%
Total Raised £138,303,150 £135,421,313 2.1%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 71 87 -18.4%
Lots Sold 50 65 -23.1%
Percent Sold 70.4% 74.7% -5.7%
Total Raised £31,969,000 £42,872,500 -25.4%

North-East

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 574 686 -16.3%
Lots Sold 301 350 -14.0%
Percent Sold 52.4% 51.0% 2.8%
Total Raised £29,698,880 £42,316,400 -29.8%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 506 624 -18.9%
Lots Sold 266 307 -13.4%
Percent Sold 52.6% 49.2% 6.9%
Total Raised £23,994,630 £29,786,400 -19.4%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 68 62 9.7%
Lots Sold 35 43 -18.6%
Percent Sold 51.5% 69.4% -25.8%
Total Raised £5,704,250 £12,530,000 -54.5%

North-West

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 1266 1712 -26.1%
Lots Sold 881 863 2.1%
Percent Sold 69.6% 50.4% 38.0%
Total Raised £81,947,357 £111,087,590 -26.2%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 1028 1307 -21.3%
Lots Sold 708 656 7.9%
Percent Sold 68.9% 50.2% 37.2%
Total Raised £54,441,807 £70,140,594 -22.4%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 238 405 -41.2%
Lots Sold 173 207 -16.4%
Percent Sold 72.7% 51.1% 42.2%
Total Raised £27,505,550 £40,946,996 -32.8%

North-West Home Counties

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 278 484 -42.6%
Lots Sold 209 321 -34.9%
Percent Sold 75.2% 66.3% 13.4%
Total Raised £52,527,350 £97,284,900 -46.0%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 229 379 -39.6%
Lots Sold 176 245 -28.2%
Percent Sold 76.9% 64.6% 18.9%
Total Raised £32,979,850 £49,721,150 -33.7%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 49 105 -53.3%
Lots Sold 33 76 -56.6%
Percent Sold 67.3% 72.4% -7.0%
Total Raised £19,547,500 £47,563,750 -58.9%

Scotland

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 205 293 -30.0%
Lots Sold 122 180 -32.2%
Percent Sold 59.5% 61.4% -3.1%
Total Raised £14,949,400 £17,091,800 -12.5%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 106 190 -44.2%
Lots Sold 63 102 -38.2%
Percent Sold 59.4% 53.7% 10.7%
Total Raised £4,816,600 £7,223,050 -33.3%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 99 103 -3.9%
Lots Sold 59 78 -24.4%
Percent Sold 59.6% 75.7% -21.3%
Total Raised £10,132,800 £9,868,750 2.7%

South-East Home Counties

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 822 1370 -40.0%
Lots Sold 662 894 -26.0%
Percent Sold 80.5% 65.3% 23.4%
Total Raised £118,947,148 £180,052,430 -33.9%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 679 1123 -39.5%
Lots Sold 550 717 -23.3%
Percent Sold 81.0% 63.8% 26.9%
Total Raised £79,857,112 £109,704,880 -27.2%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 143 247 -42.1%
Lots Sold 112 177 -36.7%
Percent Sold 78.3% 71.7% 9.3%
Total Raised £39,090,036 £70,347,550 -44.4%

South-West

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 586 818 -28.4%
Lots Sold 437 541 -19.2%
Percent Sold 74.6% 66.1% 12.8%
Total Raised £64,649,849 £87,474,099 -26.1%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 429 589 -27.2%
Lots Sold 308 369 -16.5%
Percent Sold 71.8% 62.6% 14.6%
Total Raised £42,398,950 £59,924,099 -29.2%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 157 229 -31.4%
Lots Sold 129 172 -25.0%
Percent Sold 82.2% 75.1% 9.4%
Total Raised £22,250,899 £27,550,000 -19.2%

Wales

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 617 634 -2.7%
Lots Sold 453 378 19.8%
Percent Sold 73.4% 59.6% 23.1%
Total Raised £43,664,285 £44,989,050 -2.9%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 465 517 -10.1%
Lots Sold 336 297 13.1%
Percent Sold 72.3% 57.4% 25.8%
Total Raised £26,396,685 £30,033,950 -12.1%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 152 117 29.9%
Lots Sold 117 81 44.4%
Percent Sold 77.0% 69.2% 11.2%
Total Raised £17,267,600 £14,955,100 15.5%

West Midlands

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 753 1243 -39.4%
Lots Sold 552 759 -27.3%
Percent Sold 73.3% 61.1% 20.1%
Total Raised £65,509,045 £94,032,300 -30.3%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 617 999 -38.2%
Lots Sold 448 585 -23.4%
Percent Sold 72.6% 58.6% 24.0%
Total Raised £39,954,945 £60,877,400 -34.4%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 136 244 -44.3%
Lots Sold 104 174 -40.2%
Percent Sold 76.5% 71.3% 7.2%
Total Raised £25,554,100 £33,154,900 -22.9%

Yorkshire and The Humber

Total
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 709 943 -24.8%
Lots Sold 516 549 -6.0%
Percent Sold 72.8% 58.2% 25.0%
Total Raised £47,810,605 £77,419,390 -38.2%
Residential
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 611 778 -21.5%
Lots Sold 437 446 -2.0%
Percent Sold 71.5% 57.3% 24.8%
Total Raised £36,579,955 £43,653,390 -16.2%
Commercial
April 2009 - June 2009 April 2008 - June 2008 Increase
Lots Offered 98 165 -40.6%
Lots Sold 79 103 -23.3%
Percent Sold 80.6% 62.4% 29.1%
Total Raised £11,230,650 £33,766,000 -66.7%


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