Essential Auction News

David Sandeman, Managing Director Welcome to first newsletter of 2010 and a look at the results for December 2009 and a look back at 2009 in general. Simply looking at the figures for 2009, one would be forgiven for thinking that 2009 has been even worse than 2008, and on the face of it, yes, the overall number of lots offered and the amount raised was down 21% and 11% respectively. However, the overall sale rate for 2009 was 75% compared with 65% for 2008, and if one strips out repossession sales, the amount raised in 2009 was 2% up on 2008.

The Commercial market in 2009 was very much a year of 2 halves. The first half saw the slight decline in volumes that had been in evidence since 2007 continue, but the 2nd half of the year saw a complete turn around and much higher volumes being seen in H2 2009 when compared with H2 of 2008 (See graph 1).

A similar picture can bee seen in graph 2 for the residential sector. The decline in amount raised started in Q2 2007 and continued through to the end of 2008. From a low base of £490m in Q1 2009 it has slowly risen all year to finish at £616m in Q4 2009. This is just below the level in Q4 2008.

Amounts Raised for Commercial Lots Amounts Raised for Residential Lots

As always do contact me if you have any questions.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk

National Auction Analysis

As the tables below shows, December 2009 was busier compared with December 2008. The value of residential lots sold was up 5% and commercial lot values were up 95%. In addition the number of lots offered was up 3% overall. By looking at the trend in the 'Increase' figures for the three periods, 'Last month', 'Last Quarter', and 'Last Year', it is noticeable how the relatively large minus sign for the year comparison moved to being generally positive numbers for the month comparison. This shows and supports the relative improvement we have seen over the latter part of last year.

Total

  Last Month Last Quarter Last Year
December 2009 December 2008 Increase October 2009 - December 2009 October 2008 - December 2008 Increase January 2009 - December 2009 January 2008 -December 2008 Increase
Lots Offered 3,293 3,189 3.3% 8,338 9,879 -15.6% 29,720 37,829 -21.4%
Lots Sold 2,310 2,238 3.2% 5,916 6,709 -11.8% 22,373 24,592 -9.0%
Percent Sold 70% 70% -0.0% 71% 68% 4.5% 75% 65% 15.8%
Total Raised £440,719,778 £330,470,040 33.4% £1,024,132,300 £904,945,123 13.2% £3,471,652,346 £3,881,171,065 -10.6%

Residential

  Last Month Last Quarter Last Year
December 2009 December 2008 Increase October 2009 - December 2009 October 2008 - December 2008 Increase January 2009 - December 2009 January 2008 -December 2008 Increase
Lots Offered 2,491 2,659 -6.3% 6,474 8,199 -21.0% 24,025 31,110 -22.8%
Lots Sold 1,748 1,864 -6.2% 4,544 5,554 -18.2% 18,014 19,895 -9.5%
Percent Sold 70% 70% 0.1% 70% 68% 3.6% 75% 64% 17.2%
Total Raised £239,609,578 £227,620,055 5.3% £616,306,550 £650,536,445 -5.3% £2,261,365,244 £2,652,864,098 -14.8%

Commercial

  Last Month Last Quarter Last Year
December 2009 December 2008 Increase October 2009 - December 2009 October 2008 - December 2008 Increase January 2009 - December 2009 January 2008 -December 2008 Increase
Lots Offered 802 530 51.3% 1,864 1,680 11.0% 5,695 6,719 -15.2%
Lots Sold 562 374 50.3% 1,372 1,155 18.8% 4,359 4,697 -7.2%
Percent Sold 70% 71% -0.7% 74% 69% 7.1% 77% 70% 9.5%
Total Raised £201,110,200 £102,849,985 95.5% £407,825,750 £254,408,678 60.3% £1,210,287,102 £1,228,306,967 -1.5%

Regional Auction Analysis

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

East Anglia

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 277 318 -12.9%
Lots Sold 219 211 3.8%
Percent Sold 79.1% 66.4% 19.2%
Total Raised £35,896,500 £25,622,500 40.1%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 210 261 -19.5%
Lots Sold 162 172 -5.8%
Percent Sold 77.1% 65.9% 17.1%
Total Raised £17,501,000 £19,661,500 -11.0%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 67 57 17.5%
Lots Sold 57 39 46.2%
Percent Sold 85.1% 68.4% 24.3%
Total Raised £18,395,500 £5,961,000 208.6%

East Midlands

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 631 821 -23.1%
Lots Sold 442 561 -21.2%
Percent Sold 70.0% 68.3% 2.5%
Total Raised £53,316,250 £61,764,560 -13.7%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 475 722 -34.2%
Lots Sold 337 493 -31.6%
Percent Sold 70.9% 68.3% 3.9%
Total Raised £29,445,000 £45,829,660 -35.8%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 156 99 57.6%
Lots Sold 105 68 54.4%
Percent Sold 67.3% 68.7% -2.0%
Total Raised £23,871,250 £15,934,900 49.8%

London

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 1088 1105 -1.5%
Lots Sold 889 822 8.2%
Percent Sold 81.7% 74.4% 9.8%
Total Raised £311,193,000 £202,657,955 53.6%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 919 994 -7.5%
Lots Sold 744 734 1.4%
Percent Sold 81.0% 73.8% 9.6%
Total Raised £196,867,000 £156,833,705 25.5%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 169 111 52.3%
Lots Sold 145 88 64.8%
Percent Sold 85.8% 79.3% 8.2%
Total Raised £114,326,000 £45,824,250 149.5%

North-East

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 539 642 -16.0%
Lots Sold 274 419 -34.6%
Percent Sold 50.8% 65.3% -22.1%
Total Raised £31,788,702 £39,827,125 -20.2%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 497 608 -18.3%
Lots Sold 252 398 -36.7%
Percent Sold 50.7% 65.5% -22.5%
Total Raised £18,117,202 £35,773,925 -49.4%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 42 34 23.5%
Lots Sold 22 21 4.8%
Percent Sold 52.4% 61.8% -15.2%
Total Raised £13,671,500 £4,053,200 237.3%

North-West

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 1254 1595 -21.4%
Lots Sold 847 1021 -17.0%
Percent Sold 67.5% 64.0% 5.5%
Total Raised £75,867,475 £94,648,400 -19.8%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 994 1288 -22.8%
Lots Sold 667 825 -19.2%
Percent Sold 67.1% 64.1% 4.8%
Total Raised £46,386,325 £66,788,600 -30.5%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 260 307 -15.3%
Lots Sold 180 196 -8.2%
Percent Sold 69.2% 63.8% 8.4%
Total Raised £29,481,150 £27,859,800 5.8%

North-West Home Counties

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 473 474 -0.2%
Lots Sold 339 345 -1.7%
Percent Sold 71.7% 72.8% -1.5%
Total Raised £83,161,100 £70,862,600 17.4%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 310 388 -20.1%
Lots Sold 226 285 -20.7%
Percent Sold 72.9% 73.5% -0.7%
Total Raised £47,574,500 £45,958,700 3.5%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 163 86 89.5%
Lots Sold 113 60 88.3%
Percent Sold 69.3% 69.8% -0.6%
Total Raised £35,586,600 £24,903,900 42.9%

Scotland

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 278 269 3.3%
Lots Sold 134 179 -25.1%
Percent Sold 48.2% 66.5% -27.6%
Total Raised £15,423,295 £10,527,350 46.5%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 221 183 20.8%
Lots Sold 96 113 -15.0%
Percent Sold 43.4% 61.7% -29.7%
Total Raised £6,166,395 £8,480,600 -27.3%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 57 86 -33.7%
Lots Sold 38 66 -42.4%
Percent Sold 66.7% 76.7% -13.1%
Total Raised £9,256,900 £2,046,750 352.3%

South-East Home Counties

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 1035 1245 -16.9%
Lots Sold 784 911 -13.9%
Percent Sold 75.7% 73.2% 3.5%
Total Raised £147,756,206 £153,628,835 -3.8%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 760 969 -21.6%
Lots Sold 578 716 -19.3%
Percent Sold 76.1% 73.9% 2.9%
Total Raised £95,977,006 £95,498,550 0.5%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 275 276 -0.4%
Lots Sold 206 195 5.6%
Percent Sold 74.9% 70.7% 6.0%
Total Raised £51,779,200 £58,130,285 -10.9%

South-West

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 717 803 -10.7%
Lots Sold 542 548 -1.1%
Percent Sold 75.6% 68.2% 10.8%
Total Raised £90,788,050 £75,797,300 19.8%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 484 580 -16.6%
Lots Sold 358 385 -7.0%
Percent Sold 74.0% 66.4% 11.4%
Total Raised £53,111,300 £50,118,850 6.0%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 233 223 4.5%
Lots Sold 184 163 12.9%
Percent Sold 79.0% 73.1% 8.0%
Total Raised £37,676,750 £25,678,450 46.7%

Wales

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 528 694 -23.9%
Lots Sold 365 442 -17.4%
Percent Sold 69.1% 63.7% 8.5%
Total Raised £39,630,050 £40,487,850 -2.1%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 426 568 -25.0%
Lots Sold 286 376 -23.9%
Percent Sold 67.1% 66.2% 1.4%
Total Raised £22,905,950 £32,967,000 -30.5%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 102 126 -19.0%
Lots Sold 79 66 19.7%
Percent Sold 77.5% 52.4% 47.9%
Total Raised £16,724,100 £7,520,850 122.4%

West Midlands

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 856 978 -12.5%
Lots Sold 617 609 1.3%
Percent Sold 72.1% 62.3% 15.8%
Total Raised £82,150,022 £63,770,405 28.8%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 669 825 -18.9%
Lots Sold 487 506 -3.8%
Percent Sold 72.8% 61.3% 18.7%
Total Raised £51,406,272 £46,250,655 11.1%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 187 153 22.2%
Lots Sold 130 103 26.2%
Percent Sold 69.5% 67.3% 3.3%
Total Raised £30,743,750 £17,519,750 75.5%

Yorkshire and The Humber

Total
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 647 922 -29.8%
Lots Sold 456 630 -27.6%
Percent Sold 70.5% 68.3% 3.1%
Total Raised £56,676,150 £64,205,743 -11.7%
Residential
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 494 800 -38.3%
Lots Sold 343 540 -36.5%
Percent Sold 69.4% 67.5% 2.9%
Total Raised £30,363,100 £45,230,200 -32.9%
Commercial
October 2009 - December 2009 October 2008 -December 2008 Increase
Lots Offered 153 122 25.4%
Lots Sold 113 90 25.6%
Percent Sold 73.9% 73.8% 0.1%
Total Raised £26,313,050 £18,975,543 38.7%


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.