Essential Auction News
|
Welcome to September's newsletter giving a round-up of recent auction activity, principally August. For the first time in 6 months the overall sale rate has dropped below the 70% mark and was 67%. August is always a very quiet month for auctions with only a fifth of the number of lots being offered for a typical month. In addition with the fall in the number of repossessions currently finding their way to the auctions, the fall in sale rate is not altogether unexpected. September figures will be a better barometer of the market place and I am looking forward to publishing them in a month's time.
The 6th edition of RAPID was recently published and can be viewed here. If you have not yet read it I would urge you to do so as it has interesting research and comment on various aspects of the residential auction market, such as the fall in number of repossessions, an interpretation on the Nationwide House Price Index, AST yields, and much more. Do take a look.
With 4 months of auctions before the end of the year, I do hope that the market is good for you.
Kind regards
David Sandeman
Managing Director
davids@eigroup.co.uk
|
National Auction Analysis
Whilst the sale rate was below 70% it was still 5 percentage points higher than August 2008. The market size in terms of lots offered and the amount raised continued to decline on the three periods reviewed below. Evidence indeed of the tough market conditions facing the property industry as a whole.
Total
| |
Last Month |
Last Quarter |
Last Year |
|
August 2009 |
August 2008 |
Increase |
June - August 2009
|
June - August 2008
|
Increase |
September 2008 - August 2009 |
September 2007 - August 2008 |
Increase |
| Lots Offered |
664 |
996 |
-33.3% |
6,910 |
8,784 |
-21.3% |
32,054 |
38,005 |
-15.7% |
| Lots Sold |
447 |
622 |
-28.1% |
5,042 |
5,231 |
-3.6% |
22,897 |
24,670 |
-7.2% |
| Percent Sold |
67% |
62% |
7.8% |
73% |
60% |
22.5% |
71% |
65% |
10.0% |
| Total Raised |
£51,756,625 |
£86,817,957 |
-40.4% |
£797,875,264 |
£798,418,215 |
-0.1% |
£3,292,340,024 |
£4,637,402,162 |
-29.0% |
Residential
| |
Last Month |
Last Quarter |
Last Year |
|
August 2009 |
August 2008 |
Increase |
June - August 2009
|
June - August 2008
|
Increase |
September 2008 - August 2009 |
September 2007 - August 2008 |
Increase |
| Lots Offered |
604 |
884 |
-31.7% |
5,637 |
7,356 |
-23.4% |
26,537 |
30,729 |
-13.6% |
| Lots Sold |
408 |
560 |
-27.1% |
4,102 |
4,292 |
-4.4% |
18,890 |
19,453 |
-2.9% |
| Percent Sold |
68% |
63% |
6.6% |
73% |
58% |
24.7% |
71% |
63% |
12.4% |
| Total Raised |
£48,003,375 |
£60,654,040 |
-20.9% |
£523,334,048 |
£567,387,896 |
-7.8% |
£2,256,940,444 |
£2,952,396,283 |
-23.6% |
Commercial
| |
Last Month |
Last Quarter |
Last Year |
|
August 2009 |
August 2008 |
Increase |
June - August 2009
|
June - August 2008
|
Increase |
September 2008 - August 2009 |
September 2007 - August 2008 |
Increase |
| Lots Offered |
53 |
99 |
-46.5% |
1,273 |
1,428 |
-10.9% |
5,517 |
7,267 |
-24.1% |
| Lots Sold |
34 |
54 |
-37.0% |
940 |
939 |
0.1% |
4,007 |
5,209 |
-23.1% |
| Percent Sold |
64% |
55% |
17.6% |
74% |
66% |
12.3% |
73% |
72% |
1.3% |
| Total Raised |
£3,453,250 |
£25,876,517 |
-86.7% |
£274,541,216 |
£231,030,319 |
18.8% |
£1,035,399,580 |
£1,678,590,879 |
-38.3% |
Regional Auction Analysis
As is usually the case, variations across all the measurable parameters can be seen across the regions.
East Anglia
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
231 |
251 |
-8.0% |
| Lots Sold |
173 |
147 |
17.7% |
| Percent Sold |
74.9% |
58.6% |
27.9% |
| Total Raised |
£33,731,500 |
£20,015,450 |
68.5% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
190 |
222 |
-14.4% |
| Lots Sold |
141 |
125 |
12.8% |
| Percent Sold |
74.2% |
56.3% |
31.8% |
| Total Raised |
£20,387,500 |
£16,388,150 |
24.4% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
41 |
29 |
41.4% |
| Lots Sold |
32 |
22 |
45.5% |
| Percent Sold |
78.0% |
75.9% |
2.9% |
| Total Raised |
£13,344,000 |
£3,627,300 |
267.9% |
East Midlands
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
495 |
750 |
-34.0% |
| Lots Sold |
375 |
453 |
-17.2% |
| Percent Sold |
75.8% |
60.4% |
25.4% |
| Total Raised |
£44,488,176 |
£55,503,750 |
-19.8% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
370 |
624 |
-40.7% |
| Lots Sold |
280 |
369 |
-24.1% |
| Percent Sold |
75.7% |
59.1% |
28.0% |
| Total Raised |
£25,681,100 |
£39,047,250 |
-34.2% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
125 |
126 |
-0.8% |
| Lots Sold |
95 |
84 |
13.1% |
| Percent Sold |
76.0% |
66.7% |
14.0% |
| Total Raised |
£18,807,076 |
£16,456,500 |
14.3% |
London
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
789 |
791 |
-0.3% |
| Lots Sold |
650 |
516 |
26.0% |
| Percent Sold |
82.4% |
65.2% |
26.3% |
| Total Raised |
£177,062,700 |
£134,670,450 |
31.5% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
718 |
718 |
0.0% |
| Lots Sold |
587 |
460 |
27.6% |
| Percent Sold |
81.8% |
64.1% |
27.6% |
| Total Raised |
£140,311,200 |
£111,182,450 |
26.2% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
71 |
73 |
-2.7% |
| Lots Sold |
63 |
56 |
12.5% |
| Percent Sold |
88.7% |
76.7% |
15.7% |
| Total Raised |
£36,751,500 |
£23,488,000 |
56.5% |
North-East
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
551 |
686 |
-19.7% |
| Lots Sold |
276 |
393 |
-29.8% |
| Percent Sold |
50.1% |
57.3% |
-12.6% |
| Total Raised |
£28,207,581 |
£42,901,867 |
-34.3% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
504 |
639 |
-21.1% |
| Lots Sold |
255 |
360 |
-29.2% |
| Percent Sold |
50.6% |
56.3% |
-10.2% |
| Total Raised |
£22,898,581 |
£35,017,600 |
-34.6% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
47 |
47 |
0.0% |
| Lots Sold |
21 |
33 |
-36.4% |
| Percent Sold |
44.7% |
70.2% |
-36.4% |
| Total Raised |
£5,309,000 |
£7,884,267 |
-32.7% |
North-West
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
1102 |
1439 |
-23.4% |
| Lots Sold |
769 |
809 |
-4.9% |
| Percent Sold |
69.8% |
56.2% |
24.1% |
| Total Raised |
£74,911,552 |
£116,470,584 |
-35.7% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
894 |
1167 |
-23.4% |
| Lots Sold |
621 |
637 |
-2.5% |
| Percent Sold |
69.5% |
54.6% |
27.3% |
| Total Raised |
£45,427,852 |
£64,825,489 |
-29.9% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
208 |
272 |
-23.5% |
| Lots Sold |
148 |
172 |
-14.0% |
| Percent Sold |
71.2% |
63.2% |
12.5% |
| Total Raised |
£29,483,700 |
£51,645,095 |
-42.9% |
North-West Home Counties
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
309 |
415 |
-25.5% |
| Lots Sold |
243 |
270 |
-10.0% |
| Percent Sold |
78.6% |
65.1% |
20.9% |
| Total Raised |
£75,770,250 |
£60,891,200 |
24.4% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
235 |
360 |
-34.7% |
| Lots Sold |
182 |
233 |
-21.9% |
| Percent Sold |
77.4% |
64.7% |
19.7% |
| Total Raised |
£34,348,750 |
£42,654,200 |
-19.5% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
74 |
55 |
34.5% |
| Lots Sold |
61 |
37 |
64.9% |
| Percent Sold |
82.4% |
67.3% |
22.5% |
| Total Raised |
£41,421,500 |
£18,237,000 |
127.1% |
Scotland
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
174 |
171 |
1.8% |
| Lots Sold |
107 |
89 |
20.2% |
| Percent Sold |
61.5% |
52.0% |
18.2% |
| Total Raised |
£10,091,000 |
£12,008,950 |
-16.0% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
112 |
121 |
-7.4% |
| Lots Sold |
62 |
51 |
21.6% |
| Percent Sold |
55.4% |
42.1% |
31.3% |
| Total Raised |
£5,478,100 |
£5,095,800 |
7.5% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
62 |
50 |
24.0% |
| Lots Sold |
45 |
38 |
18.4% |
| Percent Sold |
72.6% |
76.0% |
-4.5% |
| Total Raised |
£4,612,900 |
£6,913,150 |
-33.3% |
South-East Home Counties
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
879 |
1157 |
-24.0% |
| Lots Sold |
715 |
681 |
5.0% |
| Percent Sold |
81.3% |
58.9% |
38.2% |
| Total Raised |
£127,494,880 |
£123,807,920 |
3.0% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
733 |
969 |
-24.4% |
| Lots Sold |
603 |
565 |
6.7% |
| Percent Sold |
82.3% |
58.3% |
41.1% |
| Total Raised |
£90,690,630 |
£84,012,320 |
7.9% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
146 |
188 |
-22.3% |
| Lots Sold |
112 |
116 |
-3.4% |
| Percent Sold |
76.7% |
61.7% |
24.3% |
| Total Raised |
£36,804,250 |
£39,795,600 |
-7.5% |
South-West
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
542 |
671 |
-19.2% |
| Lots Sold |
414 |
450 |
-8.0% |
| Percent Sold |
76.4% |
67.1% |
13.9% |
| Total Raised |
£79,622,300 |
£67,118,000 |
18.6% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
378 |
505 |
-25.1% |
| Lots Sold |
278 |
329 |
-15.5% |
| Percent Sold |
73.5% |
65.1% |
12.9% |
| Total Raised |
£41,193,600 |
£50,668,500 |
-18.7% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
164 |
166 |
-1.2% |
| Lots Sold |
136 |
121 |
12.4% |
| Percent Sold |
82.9% |
72.9% |
13.8% |
| Total Raised |
£38,428,700 |
£16,449,500 |
133.6% |
Wales
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
555 |
641 |
-13.4% |
| Lots Sold |
390 |
371 |
5.1% |
| Percent Sold |
70.3% |
57.9% |
21.4% |
| Total Raised |
£35,917,580 |
£41,633,850 |
-13.7% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
450 |
512 |
-12.1% |
| Lots Sold |
328 |
296 |
10.8% |
| Percent Sold |
72.9% |
57.8% |
26.1% |
| Total Raised |
£27,558,890 |
£27,998,100 |
-1.6% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
105 |
129 |
-18.6% |
| Lots Sold |
62 |
75 |
-17.3% |
| Percent Sold |
59.0% |
58.1% |
1.6% |
| Total Raised |
£8,358,690 |
£13,635,750 |
-38.7% |
West Midlands
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
682 |
1044 |
-34.7% |
| Lots Sold |
509 |
576 |
-11.6% |
| Percent Sold |
74.6% |
55.2% |
35.3% |
| Total Raised |
£64,585,045 |
£66,915,075 |
-3.5% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
552 |
846 |
-34.8% |
| Lots Sold |
418 |
448 |
-6.7% |
| Percent Sold |
75.7% |
53.0% |
43.0% |
| Total Raised |
£42,150,045 |
£48,893,025 |
-13.8% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
130 |
198 |
-34.3% |
| Lots Sold |
91 |
128 |
-28.9% |
| Percent Sold |
70.0% |
64.6% |
8.3% |
| Total Raised |
£22,435,000 |
£18,022,050 |
24.5% |
Yorkshire and The Humber
| Total |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
600 |
758 |
-20.8% |
| Lots Sold |
420 |
470 |
-10.6% |
| Percent Sold |
70.0% |
62.0% |
12.9% |
| Total Raised |
£45,827,700 |
£55,857,119 |
-18.0% |
| Residential |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
500 |
663 |
-24.6% |
| Lots Sold |
346 |
413 |
-16.2% |
| Percent Sold |
69.2% |
62.3% |
11.1% |
| Total Raised |
£27,042,800 |
£40,981,012 |
-34.0% |
| Commercial |
|
June 2009 - August 2009 |
June 2008 - August 2008 |
Increase |
| Lots Offered |
100 |
95 |
5.3% |
| Lots Sold |
74 |
57 |
29.8% |
| Percent Sold |
74.0% |
60.0% |
23.3% |
| Total Raised |
£18,784,900 |
£14,876,107 |
26.3% |
Your Comments
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