Essential Auction News

David Sandeman, Managing Director Welcome to the June 2009 newsletter which looks at the overall auction results for May 2009, the preceding quarter and year, and compares these results with the same periods 12 months ago.

The key point coming through is the increase of the sales rate to 71%. There have now been 3 consequtive months where the rate has been in the 70�s.

At the very bottom of the newsletter, beneath the regional tables we have a graph showing how the number of residential lots and repossessions offered at auction has changed over the last 4 years on a rolling quarterly basis.

We are constantly on the lookout for new auction houses that we do not presently cover. If you know of any that are not in our database, no matter how big or small do please let me have details by sending an email.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk

National Auction Analysis

Overall, the number of lots offered in May 2009 declined almost 40% compared with May 2008. This was in part due to 298 fewer repossessions being offered. (May 2009 � 180, May 2008 - 478). The percent sold however has increased by 16.5%, up from 61% to 71%, and on the rolling year basis the number of lots offered was only down 10%, though revenue raised dropped 36%.

Total

  Last Month Last Quarter Last Year
May 2009 May 2008 Increase March - May 2009 March - May 2008 Increase June 2008 - May 2009 June 2007 - May 2008 Increase
Lots Offered 2,298 3,825 -39.9% 7,178 10,398 -31.0% 33,922 38,001 -10.7%
Lots Sold 1,621 2,316 -30.0% 5,160 6,552 -21.2% 22,758 25,751 -11.6%
Percent Sold 71% 61% 16.5% 72% 63% 14.1% 67% 68% -1.0%
Total Raised £317,870,587 £470,141,864 -32.4% £769,074,347 £1,201,540,518 -36.0% £3,221,801,600 £5,104,163,690 -36.9%

Residential

  Last Month Last Quarter Last Year
May 2009 May 2008 Increase March - May 2009 March - May 2008 Increase June 2008 - May 2009 June 2007 - May 2008 Increase
Lots Offered 1,709 2,876 -40.6% 5,768 8,311 -30.6% 28,254 30,614 -7.7%
Lots Sold 1,186 1,686 -29.7% 4,114 5,100 -19.3% 18,810 20,289 -7.3%
Percent Sold 69% 59% 18.4% 71% 61% 16.2% 67% 66% 0.5%
Total Raised £164,407,251 £252,323,013 -34.8% £477,999,012 £729,464,517 -34.5% £2,273,313,067 £3,258,923,035 -30.2%

Commercial

  Last Month Last Quarter Last Year
May 2009 May 2008 Increase March - May 2009 March - May 2008 Increase June 2008 - May 2009 June 2007 - May 2008 Increase
Lots Offered 589 949 -37.9% 1,410 2,087 -32.4% 5,668 7,378 -23.2%
Lots Sold 435 630 -31.0% 1,046 1,452 -28.0% 3,948 5,454 -27.6%
Percent Sold 74% 66% 11.2% 74% 70% 6.6% 70% 74% -5.8%
Total Raised £153,463,336 £217,818,851 -29.5% £291,075,335 £472,076,001 -38.3% £948,488,533 £1,838,825,655 -48.4%

Regional Auction Analysis

The regional quarterly sales rates generally reflect the overall national position. The lowest sales rate was the North East at 54% and the highest was the South West at 78.3%.

East Anglia

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 200 350 -42.9%
Lots Sold 150 241 -37.8%
Percent Sold 75.0% 68.9% 8.9%
Total Raised £27,300,500 £34,990,800 -22.0%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 158 283 -44.2%
Lots Sold 119 198 -39.9%
Percent Sold 75.3% 70.0% 7.6%
Total Raised £12,422,500 £24,500,300 -49.3%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 42 67 -37.3%
Lots Sold 31 43 -27.9%
Percent Sold 73.8% 64.2% 15.0%
Total Raised £14,878,000 £10,490,500 41.8%

East Midlands

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 584 915 -36.2%
Lots Sold 427 621 -31.2%
Percent Sold 73.1% 67.9% 7.7%
Total Raised £41,418,550 £101,556,000 -59.2%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 479 745 -35.7%
Lots Sold 359 485 -26.0%
Percent Sold 74.9% 65.1% 15.1%
Total Raised £32,203,300 £54,998,500 -41.4%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 105 170 -38.2%
Lots Sold 68 136 -50.0%
Percent Sold 64.8% 80.0% -19.0%
Total Raised £9,215,250 £46,557,500 -80.2%

London

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 637 958 -33.5%
Lots Sold 484 668 -27.5%
Percent Sold 76.0% 69.7% 9.0%
Total Raised £148,596,400 £224,531,463 -33.8%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 561 851 -34.1%
Lots Sold 427 588 -27.4%
Percent Sold 76.1% 69.1% 10.2%
Total Raised £111,673,400 £161,783,963 -31.0%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 76 107 -29.0%
Lots Sold 57 80 -28.8%
Percent Sold 75.0% 74.8% 0.3%
Total Raised £36,923,000 £62,747,500 -41.2%

North-East

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 564 696 -19.0%
Lots Sold 306 349 -12.3%
Percent Sold 54.3% 50.1% 8.2%
Total Raised £34,579,705 £50,589,748 -31.6%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 502 626 -19.8%
Lots Sold 267 305 -12.5%
Percent Sold 53.2% 48.7% 9.2%
Total Raised £21,684,155 £31,833,748 -31.9%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 62 70 -11.4%
Lots Sold 39 44 -11.4%
Percent Sold 62.9% 62.9% 0.1%
Total Raised £12,895,550 £18,756,000 -31.2%

North-West

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 1123 1585 -29.1%
Lots Sold 775 799 -3.0%
Percent Sold 69.0% 50.4% 36.9%
Total Raised £79,574,905 £109,047,850 -27.0%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 921 1229 -25.1%
Lots Sold 636 623 2.1%
Percent Sold 69.1% 50.7% 36.2%
Total Raised £51,329,955 £69,620,949 -26.3%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 202 356 -43.3%
Lots Sold 139 176 -21.0%
Percent Sold 68.8% 49.4% 39.2%
Total Raised £28,244,950 £39,426,901 -28.4%

North-West Home Counties

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 324 566 -42.8%
Lots Sold 243 400 -39.3%
Percent Sold 75.0% 70.7% 6.1%
Total Raised £61,867,600 £117,527,950 -47.4%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 263 442 -40.5%
Lots Sold 201 307 -34.5%
Percent Sold 76.4% 69.5% 10.0%
Total Raised £34,687,100 £62,268,200 -44.3%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 61 124 -50.8%
Lots Sold 42 93 -54.8%
Percent Sold 68.9% 75.0% -8.2%
Total Raised £27,180,500 £55,259,750 -50.8%

Scotland

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 189 259 -27.0%
Lots Sold 107 157 -31.8%
Percent Sold 56.6% 60.6% -6.6%
Total Raised £13,187,335 £18,203,253 -27.6%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 117 181 -35.4%
Lots Sold 68 103 -34.0%
Percent Sold 58.1% 56.9% 2.1%
Total Raised £4,619,935 £6,854,353 -32.6%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 72 78 -7.7%
Lots Sold 39 54 -27.8%
Percent Sold 54.2% 69.2% -21.8%
Total Raised £8,567,400 £11,348,900 -24.5%

South-East Home Counties

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 730 1380 -47.1%
Lots Sold 571 959 -40.5%
Percent Sold 78.2% 69.5% 12.6%
Total Raised £111,344,853 £202,215,605 -44.9%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 579 1095 -47.1%
Lots Sold 455 748 -39.2%
Percent Sold 78.6% 68.3% 15.0%
Total Raised £57,328,567 £119,204,155 -51.9%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 151 285 -47.0%
Lots Sold 116 211 -45.0%
Percent Sold 76.8% 74.0% 3.8%
Total Raised £54,016,286 £83,011,450 -34.9%

South-West

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 714 935 -23.6%
Lots Sold 559 650 -14.0%
Percent Sold 78.3% 69.5% 12.6%
Total Raised £85,537,049 £102,629,799 -16.7%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 482 664 -27.4%
Lots Sold 355 437 -18.8%
Percent Sold 73.7% 65.8% 11.9%
Total Raised £49,332,600 £64,828,999 -23.9%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 232 271 -14.4%
Lots Sold 204 213 -4.2%
Percent Sold 87.9% 78.6% 11.9%
Total Raised £36,204,449 £37,800,800 -4.2%

Wales

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 512 715 -28.4%
Lots Sold 368 438 -16.0%
Percent Sold 71.9% 61.3% 17.3%
Total Raised £41,204,695 £53,770,350 -23.4%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 374 569 -34.3%
Lots Sold 259 334 -22.5%
Percent Sold 69.3% 58.7% 18.0%
Total Raised £19,688,345 £33,573,250 -41.4%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 138 146 -5.5%
Lots Sold 109 104 4.8%
Percent Sold 79.0% 71.2% 10.9%
Total Raised £21,516,350 £20,197,100 6.5%

West Midlands

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 848 1128 -24.8%
Lots Sold 608 740 -17.8%
Percent Sold 71.7% 65.6% 9.3%
Total Raised £73,320,300 £104,159,850 -29.6%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 692 897 -22.9%
Lots Sold 494 562 -12.1%
Percent Sold 71.4% 62.7% 13.9%
Total Raised £42,170,200 £58,863,750 -28.4%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 156 231 -32.5%
Lots Sold 114 178 -36.0%
Percent Sold 73.1% 77.1% -5.2%
Total Raised £31,150,100 £45,296,100 -31.2%

Yorkshire and The Humber

Total
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 750 883 -15.1%
Lots Sold 561 507 10.7%
Percent Sold 74.8% 57.4% 30.3%
Total Raised £51,026,955 £79,490,850 -35.8%
Residential
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 637 706 -9.8%
Lots Sold 473 392 20.7%
Percent Sold 74.3% 55.5% 33.7%
Total Raised £40,743,455 £38,767,350 5.1%
Commercial
March 2009 - May 2009 March 2008 - May 2008 Increase
Lots Offered 113 177 -36.2%
Lots Sold 88 115 -23.5%
Percent Sold 77.9% 65.0% 19.9%
Total Raised £10,283,500 £40,723,500 -74.7%


Repossession lots offered at auction

The graph below shows how the total number of residential lots offered at auction grew steadily between 2005 and the last quarter of 2008 and then fell away quite sharply in the first two quarters of this year.
The repossession numbers had a greater increase in growth up to the last quarter of 2008 and similarly, fell away this year, however the line is not showing an uplift. There are two main probable factors for this. Firstly, the estate agency market is more buoyant and able to 'soak up' more repossessions as they come to market. Secondly, the banks are not releasing them either generally to the market or auction rooms in particular.
Residential and Repossessions Offered

Your Comments

If you would like to comment on anything in this email, or have any suggestions for future newsletters, we would like to hear from you. So please email us anytime.