Essential Auction News

David Sandeman, Managing Director Welcome to November's newsletter giving a round-up of recent auction activity, principally October.

October was an exceptionally busy month with 170 auctions being held. The busiest ever was September 2009 with 179 auctions. The sale rate held steady at 72% with £422 million being raised. With only six weeks to the end of the year, we are very busy at the moment entering the catalogues for the rest of November and December.

As always do contact us if you have any questions.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk

National Auction Analysis

October saw a very strong set of results in the light of current market conditions and when compared with last year. Whilst the number of lots offered was down, the percent sold and amount raised were all up, by some margin in the case of commercial property. 40% more money was raised at commercial sales in October 2009 when compared with October 2008 and residential sales saw a rise of almost 10% in the same period. The overall percentage sale rate was 72% and this has broadly been the figure for some months now. Indications are that we will see this improvement continuing and it bodes well for next year.

Total

  Last Month Last Quarter Last Year
October 2009 October 2008 Increase August - October 2009 August - October 2008 Increase November 2008 - October 2009 November 2007 - October 2008 Increase
Lots Offered 3,038 3,608 -15.8% 6,995 8,714 -19.7% 30,669 37,647 -18.5%
Lots Sold 2,201 2,316 -5.0% 5,050 5,627 -10.3% 22,583 24,192 -6.7%
Percent Sold 72% 64% 12.9% 72% 65% 11.8% 74% 64% 14.6%
Total Raised £422,132,876 £348,943,343 21.0% £772,058,765 £767,181,589 0.6% £3,345,951,157 £4,154,022,717 -19.5%

Residential

  Last Month Last Quarter Last Year
October 2009 October 2008 Increase August - October 2009 August - October 2008 Increase November 2008 - October 2009 November 2007 - October 2008 Increase
Lots Offered 2,304 2,810 -18.0% 5,680 7,263 -21.8% 25,235 30,682 -17.8%
Lots Sold 1,653 1,778 -7.0% 4,062 4,660 -12.8% 18,525 19,281 -3.9%
Percent Sold 72% 63% 13.4% 72% 64% 11.5% 73% 63% 16.8%
Total Raised £243,569,676 £221,990,250 9.7% £550,311,815 £565,507,279 -2.7% £2,264,204,770 £2,728,570,845 -17.0%

Commercial

  Last Month Last Quarter Last Year
October 2009 October 2008 Increase August - October 2009 August - October 2008 Increase November 2008 - October 2009 November 2007 - October 2008 Increase
Lots Offered 734 798 -8.0% 1,315 1,451 -9.4% 5,434 6,965 -22.0%
Lots Sold 548 538 1.9% 988 967 2.2% 4,058 4,911 -17.4%
Percent Sold 75% 67% 10.7% 75% 67% 12.7% 75% 71% 5.9%
Total Raised £178,563,200 £126,953,093 40.7% £221,746,950 £201,674,310 10.0% £1,081,746,387 £1,425,451,872 -24.1%

Regional Auction Analysis

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

East Anglia

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 245 272 -9.9%
Lots Sold 169 180 -6.1%
Percent Sold 69.0% 66.2% 4.2%
Total Raised £20,929,150 £24,715,725 -15.3%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 208 237 -12.2%
Lots Sold 139 155 -10.3%
Percent Sold 66.8% 65.4% 2.2%
Total Raised £17,012,150 £19,570,725 -13.1%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 37 35 5.7%
Lots Sold 30 25 20.0%
Percent Sold 81.1% 71.4% 13.5%
Total Raised £3,917,000 £5,145,000 -23.9%

East Midlands

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 497 799 -37.8%
Lots Sold 372 510 -27.1%
Percent Sold 74.8% 63.8% 17.3%
Total Raised £40,179,800 £67,696,950 -40.6%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 380 661 -42.5%
Lots Sold 276 413 -33.2%
Percent Sold 72.6% 62.5% 16.2%
Total Raised £24,006,050 £49,491,300 -51.5%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 117 138 -15.2%
Lots Sold 96 97 -1.0%
Percent Sold 82.1% 70.3% 16.7%
Total Raised £16,173,750 £18,205,650 -11.2%

London

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 872 844 3.3%
Lots Sold 726 599 21.2%
Percent Sold 83.3% 71.0% 17.3%
Total Raised £219,394,150 £137,491,201 59.6%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 784 782 0.3%
Lots Sold 647 550 17.6%
Percent Sold 82.5% 70.3% 17.3%
Total Raised £163,113,750 £113,935,701 43.2%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 88 62 41.9%
Lots Sold 79 49 61.2%
Percent Sold 89.8% 79.0% 13.6%
Total Raised £56,280,400 £23,555,500 138.9%

North-East

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 483 676 -28.6%
Lots Sold 281 401 -29.9%
Percent Sold 58.2% 59.3% -1.9%
Total Raised £28,436,875 £39,529,692 -28.1%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 443 638 -30.6%
Lots Sold 257 376 -31.6%
Percent Sold 58.0% 58.9% -1.6%
Total Raised £19,604,875 £35,387,225 -44.6%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 40 38 5.3%
Lots Sold 24 25 -4.0%
Percent Sold 60.0% 65.8% -8.8%
Total Raised £8,832,000 £4,142,467 113.2%

North-West

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 1168 1466 -20.3%
Lots Sold 766 875 -12.5%
Percent Sold 65.6% 59.7% 9.9%
Total Raised £68,814,589 £106,833,100 -35.6%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 929 1152 -19.4%
Lots Sold 602 685 -12.1%
Percent Sold 64.8% 59.5% 9.0%
Total Raised £46,783,839 £61,673,250 -24.1%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 239 314 -23.9%
Lots Sold 164 190 -13.7%
Percent Sold 68.6% 60.5% 13.4%
Total Raised £22,030,750 £45,159,850 -51.2%

North-West Home Counties

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 402 384 4.7%
Lots Sold 306 285 7.4%
Percent Sold 76.1% 74.2% 2.6%
Total Raised £66,550,250 £57,489,450 15.8%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 316 322 -1.9%
Lots Sold 236 243 -2.9%
Percent Sold 74.7% 75.5% -1.0%
Total Raised £49,749,050 £40,177,250 23.8%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 86 62 38.7%
Lots Sold 70 42 66.7%
Percent Sold 81.4% 67.7% 20.2%
Total Raised £16,801,200 £17,312,200 -3.0%

Scotland

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 165 192 -14.1%
Lots Sold 84 109 -22.9%
Percent Sold 50.9% 56.8% -10.3%
Total Raised £6,802,250 £7,121,522 -4.5%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 118 147 -19.7%
Lots Sold 60 74 -18.9%
Percent Sold 50.8% 50.3% 1.0%
Total Raised £4,588,750 £6,609,672 -30.6%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 47 45 4.4%
Lots Sold 24 35 -31.4%
Percent Sold 51.1% 77.8% -34.3%
Total Raised £2,213,500 £511,850 332.5%

South-East Home Counties

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 779 1073 -27.4%
Lots Sold 616 772 -20.2%
Percent Sold 79.1% 71.9% 9.9%
Total Raised £105,315,759 £121,574,340 -13.4%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 637 895 -28.8%
Lots Sold 513 637 -19.5%
Percent Sold 80.5% 71.2% 13.2%
Total Raised £82,145,509 £84,238,090 -2.5%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 142 178 -20.2%
Lots Sold 103 135 -23.7%
Percent Sold 72.5% 75.8% -4.4%
Total Raised £23,170,250 £37,336,250 -37.9%

South-West

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 599 656 -8.7%
Lots Sold 452 455 -0.7%
Percent Sold 75.5% 69.4% 8.8%
Total Raised £67,133,900 £63,669,700 5.4%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 418 476 -12.2%
Lots Sold 302 327 -7.6%
Percent Sold 72.2% 68.7% 5.2%
Total Raised £45,899,150 £42,117,500 9.0%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 181 180 0.6%
Lots Sold 150 128 17.2%
Percent Sold 82.9% 71.1% 16.5%
Total Raised £21,234,750 £21,552,200 -1.5%

Wales

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 494 603 -18.1%
Lots Sold 329 352 -6.5%
Percent Sold 66.6% 58.4% 14.1%
Total Raised £33,767,650 £32,532,500 3.8%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 404 493 -18.1%
Lots Sold 267 298 -10.4%
Percent Sold 66.1% 60.4% 9.3%
Total Raised £23,361,150 £25,457,250 -8.2%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 90 110 -18.2%
Lots Sold 62 54 14.8%
Percent Sold 68.9% 49.1% 40.3%
Total Raised £10,406,500 £7,075,250 47.1%

West Midlands

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 739 955 -22.6%
Lots Sold 546 546 0.0%
Percent Sold 73.9% 57.2% 29.2%
Total Raised £68,172,742 £54,608,006 24.8%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 585 783 -25.3%
Lots Sold 428 436 -1.8%
Percent Sold 73.2% 55.7% 31.4%
Total Raised £44,034,242 £42,571,006 3.4%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 154 172 -10.5%
Lots Sold 118 110 7.3%
Percent Sold 76.6% 64.0% 19.8%
Total Raised £24,138,500 £12,037,000 100.5%

Yorkshire and The Humber

Total
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 548 787 -30.4%
Lots Sold 399 536 -25.6%
Percent Sold 72.8% 68.1% 6.9%
Total Raised £46,272,650 £53,171,153 -13.0%
Residential
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 454 670 -32.2%
Lots Sold 331 459 -27.9%
Percent Sold 72.9% 68.5% 6.4%
Total Raised £29,724,300 £43,530,060 -31.7%
Commercial
August 2009 - October 2009 August 2008 - October 2008 Increase
Lots Offered 94 117 -19.7%
Lots Sold 68 77 -11.7%
Percent Sold 72.3% 65.8% 9.9%
Total Raised £16,548,350 £9,641,093 71.6%


Your Comments

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