Essential Auction News

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

I am pleased to report that the overall sales rate has increased to 71% from the 67% we saw in August. As I commented on last month, August is traditionally a very quiet month, and so not a particularly accurate barometer of the market.

Looking at the decreases in volumes when compared with the same periods last year, we are seeing a marked drop in the fall off in volumes of lots offered and the amount raised, more on that below.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk

National Auction Analysis

September saw the overall success rate rise to 71%, with 70% of residential lots selling and 76% of commercial lots selling. Perhaps more importantly the decline we have seen over the last two years both in the number of lots offered and the amount raised, has started to level off this month.

Overall, the amount raised in July - September 2009 was only 5% lower than the same period in 2008, with commercial only lots seeing an increase in amount raised of almost 20% in the same quarter. In the residential sector, whilst the number of lots is still down around 20% compared with last year, the amount raised for the month, quarter and year comparison is only down 11%, 14% and 20% respectively.

This may well be due to the higher sales rates we are seeing and higher value lots selling.

Total

  Last Month Last Quarter Last Year
September 2009 September 2008 Increase July - September 2009 July - September 2008 Increase October 2008 - September 2009 October 2007 - September 2008 Increase
Lots Offered 3,291 4,109 -19.9% 7,528 9,818 -23.3% 31,238 37,807 -17.4%
Lots Sold 2,334 2,688 -13.2% 5,433 6,165 -11.9% 22,558 24,361 -7.4%
Percent Sold 71% 65% 8.4% 72% 63% 14.9% 72% 64% 12.1%
Total Raised £288,606,614 £331,321,289 -12.9% £845,001,195 £888,734,094 -4.9% £3,253,954,849 £4,444,781,239 -26.8%

Residential

  Last Month Last Quarter Last Year
September 2009 September 2008 Increase July - September 2009 July - September 2008 Increase October 2008 - September 2009 October 2007 - September 2008 Increase
Lots Offered 2,770 3,568 -22.4% 6,119 8,277 -26.1% 25,740 30,656 -16.0%
Lots Sold 1,936 2,321 -16.6% 4,376 5,139 -14.8% 18,516 19,277 -3.9%
Percent Sold 70% 65% 7.4% 72% 62% 15.2% 72% 63% 14.4%
Total Raised £250,747,114 £282,763,989 -11.3% £558,582,955 £649,397,520 -14.0% £2,227,217,069 £2,810,162,760 -20.7%

Commercial

  Last Month Last Quarter Last Year
September 2009 September 2008 Increase July - September 2009 July - September 2008 Increase October 2008 - September 2009 October 2007 - September 2008 Increase
Lots Offered 521 541 -3.7% 1,409 1,541 -8.6% 5,498 7,142 -23.0%
Lots Sold 398 367 8.4% 1,057 1,026 3.0% 4,042 5,076 -20.4%
Percent Sold 76% 68% 12.6% 75% 67% 12.7% 74% 71% 3.4%
Total Raised £37,859,500 £48,557,300 -22.0% £286,418,240 £239,336,574 19.7% £1,026,737,780 £1,628,203,479 -36.9%

Regional Auction Analysis

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

East Anglia

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 273 351 -22.2%
Lots Sold 208 223 -6.7%
Percent Sold 76.2% 63.5% 19.9%
Total Raised £39,187,000 £29,934,975 30.9%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 217 311 -30.2%
Lots Sold 158 192 -17.7%
Percent Sold 72.8% 61.7% 17.9%
Total Raised £23,610,000 £25,228,675 -6.4%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 56 40 40.0%
Lots Sold 50 31 61.3%
Percent Sold 89.3% 77.5% 15.2%
Total Raised £15,577,000 £4,706,300 231.0%

East Midlands

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 563 913 -38.3%
Lots Sold 423 594 -28.8%
Percent Sold 75.1% 65.1% 15.5%
Total Raised £48,201,450 £81,707,250 -41.0%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 432 723 -40.2%
Lots Sold 322 456 -29.4%
Percent Sold 74.5% 63.1% 18.2%
Total Raised £27,442,450 £55,915,000 -50.9%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 131 190 -31.1%
Lots Sold 101 138 -26.8%
Percent Sold 77.1% 72.6% 6.2%
Total Raised £20,759,000 £25,792,250 -19.5%

London

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 838 953 -12.1%
Lots Sold 696 652 6.7%
Percent Sold 83.1% 68.4% 21.4%
Total Raised £171,946,350 £146,826,901 17.1%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 759 868 -12.6%
Lots Sold 626 590 6.1%
Percent Sold 82.5% 68.0% 21.3%
Total Raised £136,380,450 £120,927,401 12.8%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 79 85 -7.1%
Lots Sold 70 62 12.9%
Percent Sold 88.6% 72.9% 21.5%
Total Raised £35,565,900 £25,899,500 37.3%

North-East

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 519 729 -28.8%
Lots Sold 282 432 -34.7%
Percent Sold 54.3% 59.3% -8.3%
Total Raised £26,294,331 £44,090,042 -40.4%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 477 683 -30.2%
Lots Sold 256 402 -36.3%
Percent Sold 53.7% 58.9% -8.8%
Total Raised £20,989,331 £36,850,275 -43.0%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 42 46 -8.7%
Lots Sold 26 30 -13.3%
Percent Sold 61.9% 65.2% -5.1%
Total Raised £5,305,000 £7,239,767 -26.7%

North-West

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 1234 1517 -18.7%
Lots Sold 814 904 -10.0%
Percent Sold 66.0% 59.6% 10.7%
Total Raised £79,029,455 £122,585,644 -35.5%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 996 1237 -19.5%
Lots Sold 648 733 -11.6%
Percent Sold 65.1% 59.3% 9.8%
Total Raised £49,598,355 £70,359,094 -29.5%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 238 280 -15.0%
Lots Sold 166 171 -2.9%
Percent Sold 69.7% 61.1% 14.2%
Total Raised £29,431,100 £52,226,550 -43.6%

North-West Home Counties

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 381 473 -19.5%
Lots Sold 295 324 -9.0%
Percent Sold 77.4% 68.5% 13.0%
Total Raised £85,554,550 £65,779,950 30.1%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 296 414 -28.5%
Lots Sold 224 285 -21.4%
Percent Sold 75.7% 68.8% 9.9%
Total Raised £43,176,550 £47,470,950 -9.0%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 85 59 44.1%
Lots Sold 71 39 82.1%
Percent Sold 83.5% 66.1% 26.4%
Total Raised £42,378,000 £18,309,000 131.5%

Scotland

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 171 99 72.7%
Lots Sold 96 53 81.1%
Percent Sold 56.1% 53.5% 4.9%
Total Raised £8,531,000 £10,606,422 -19.6%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 113 83 36.1%
Lots Sold 59 41 43.9%
Percent Sold 52.2% 49.4% 5.7%
Total Raised £5,064,000 £4,236,922 19.5%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 58 16 262.5%
Lots Sold 37 12 208.3%
Percent Sold 63.8% 75.0% -14.9%
Total Raised £3,467,000 £6,369,500 -45.6%

South-East Home Counties

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 924 1329 -30.5%
Lots Sold 734 834 -12.0%
Percent Sold 79.4% 62.8% 26.6%
Total Raised £133,121,669 £130,842,190 1.7%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 770 1128 -31.7%
Lots Sold 620 702 -11.7%
Percent Sold 80.5% 62.2% 29.4%
Total Raised £96,685,919 £99,189,090 -2.5%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 154 201 -23.4%
Lots Sold 114 132 -13.6%
Percent Sold 74.0% 65.7% 12.7%
Total Raised £36,435,750 £31,653,100 15.1%

South-West

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 651 822 -20.8%
Lots Sold 497 555 -10.5%
Percent Sold 76.3% 67.5% 13.1%
Total Raised £90,703,250 £76,794,400 18.1%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 459 622 -26.2%
Lots Sold 331 412 -19.7%
Percent Sold 72.1% 66.2% 8.9%
Total Raised £49,663,050 £54,482,400 -8.8%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 192 200 -4.0%
Lots Sold 166 143 16.1%
Percent Sold 86.5% 71.5% 20.9%
Total Raised £41,040,200 £22,312,000 83.9%

Wales

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 506 637 -20.6%
Lots Sold 337 385 -12.5%
Percent Sold 66.6% 60.4% 10.2%
Total Raised £33,589,090 £44,123,800 -23.9%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 406 520 -21.9%
Lots Sold 276 314 -12.1%
Percent Sold 68.0% 60.4% 12.6%
Total Raised £24,652,400 £29,778,050 -17.2%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 100 117 -14.5%
Lots Sold 61 71 -14.1%
Percent Sold 61.0% 60.7% 0.5%
Total Raised £8,936,690 £14,345,750 -37.7%

West Midlands

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 776 1153 -32.7%
Lots Sold 557 655 -15.0%
Percent Sold 71.8% 56.8% 26.4%
Total Raised £74,300,300 £75,157,081 -1.1%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 609 946 -35.6%
Lots Sold 439 517 -15.1%
Percent Sold 72.1% 54.7% 31.9%
Total Raised £45,669,800 £56,148,831 -18.7%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 167 207 -19.3%
Lots Sold 118 138 -14.5%
Percent Sold 70.7% 66.7% 6.0%
Total Raised £28,630,500 £19,008,250 50.6%

Yorkshire and The Humber

Total
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 689 836 -17.6%
Lots Sold 491 549 -10.6%
Percent Sold 71.3% 65.7% 8.5%
Total Raised £54,226,750 £59,751,689 -9.2%
Residential
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 582 736 -20.9%
Lots Sold 414 490 -15.5%
Percent Sold 71.1% 66.6% 6.8%
Total Raised £35,334,650 £48,277,082 -26.8%
Commercial
July 2009 - September 2009 July 2008 - September 2008 Increase
Lots Offered 107 100 7.0%
Lots Sold 77 59 30.5%
Percent Sold 72.0% 59.0% 22.0%
Total Raised £18,892,100 £11,474,607 64.6%


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