Essential Auction News

David Sandeman, Managing Director Welcome to the March newsletter which reports on February 2010 and other related periods. As you will see below February 2010 was very similar to February 2009, more on that in the National Auction Analysis.

In order to compare time periods more accurately, (i.e. the monthly, quarterly, and yearly) we now use the figures published in the previous year for the respective periods. For example, the figures for February 2009 below are the same as those published in the March 2009 newsletter. The purpose of this change is to better reflect auction activity at the time of publication. Properties sell post newsletter publication, and if we included these it would distort the number of properties sold in the corresponding newsletter. For instance, in the March 2009 newsletter, we reported that a total of 2,342 properties sold out of 3,159 offered (74%). Post auction activity since publication of the March newsletter increased the number sold to 2,504 (79%).

Finally I am pleased to announce the publication of the 7th edition of the RAPID report.  RAPID is a joint initiative between ourselves and Allsop, which analyses aspects of the residential auction market. This can be viewed here and I would urge you to take a look as several interesting topics are covered.

As always do contact me if you have any questions.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk

National Auction Analysis

As I mentioned above, February 2010 was very similar to February 2009 in all respects, with only very small variations in all the numbers.  The quarterly figures show an overall increase in amount raised of nearly 13%, with total receipts from the sale of commercial lots increasing by over 55%. In the year on year figures the overall drop was 5% for amount raised and 21% for lots offered.  The commercial market bucked this trend seeing a year on year increase in amount raised of 8.6% with the number of lots offered declining by less that 10%.

Total

  Last Month Last Quarter Last Year
February 2010 February 2009 Increase December 2009 - February 2010 December 2008 - February 2009 Increase March 2009 - February 2010 March 2008 -February 2009 Increase
Lots Offered 3,282 3,159 3.9% 6,900 7,159 3.6% 29,351 37,121 -20.9%
Lots Sold 2,376 2,342 1.3% 4,919 5,139 -4.4% 21,862 24,031 -9.1%
Percent Sold 72% 74% -2.7% 71% 72% -1.4% 74% 65% 13.9%
Total Raised £330,347,541 £335,449,335 -1.6% £797,486,869 £705,864,995 12.9% £3,385,982,916 £3,590,453,600 -5.7%

Residential

  Last Month Last Quarter Last Year
February 2010 February 2009 Increase December 2009 - February 2010 December 2008 - February 2009 Increase March 2009 - February 2010 March 2008 -February 2009 Increase
Lots Offered 2,651 2,588 2.4% 5,446 6,021 -9.6% 23,613 30,786 -23.3%
Lots Sold 1,920 1,925 -0.4% 3,883 4,345 -10.8% 17,503 19,720 -11.3%
Percent Sold 72% 74% -2.7% 71% 72% -1.4% 74% 64% 15.6%
Total Raised £240,050,066 £235,372,675 1.9% £503,730,944 £516,960,275 -2.6% £2,218,570,990 £2,515,462,567 -11.8%

Commercial

  Last Month Last Quarter Last Year
February 2010 February 2009 Increase December 2009 - February 2010 December 2008 - February 2009 Increase March 2009 - February 2010 March 2008 -February 2009 Increase
Lots Offered 628 571 10% 1,451 1,136 27.7% 5,735 6,335 -9.5%
Lots Sold 456 417 9.4% 1,036 794 30.5% 4,359 4,311 1.1%
Percent Sold 73% 73% 0% 71% 70% 1.4% 76% 68% 11.8%
Total Raised £90,297,475 £100,076,660 -9.8% £293,755,925 £188,904,720 55.5% £1,167,411,926 £1,074,991,033 8.6%

Regional Auction Analysis

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

East Anglia

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 273 184 48.4%
Lots Sold 196 123 59.3%
Percent Sold 71.8% 66.8% 7.5%
Total Raised £31,414,450 �16,813,850 86.8%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 200 149 34.2%
Lots Sold 142 101 40.6%
Percent Sold 71.0% 67.8% 4.7%
Total Raised £16,484,450 �11,522,600 43.1%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 73 35 108.6%
Lots Sold 54 22 145.5%
Percent Sold 74.0% 62.9% 17.6%
Total Raised £14,930,000 £5,291,250 182.2%

East Midlands

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 488 526 -7.2%
Lots Sold 345 397 -13.6%
Percent Sold 70.7% 75.5% -6.9%
Total Raised £37,761,625 £40,268,450 -6.4%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 394 455 -13.4%
Lots Sold 286 346 -17.9%
Percent Sold 72.6% 76.0% -5.1%
Total Raised £25,892,375 £26,604,450 -3.0%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 94 71 32.4%
Lots Sold 59 51 15.7%
Percent Sold 62.8% 71.8% -12.5%
Total Raised £11,869,250 £13,664,000 -13.1%

London

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 1082 1004 7.8%
Lots Sold 860 800 7.5%
Percent Sold 79.5% 79.7% -0.3%
Total Raised £269,224,810 £201,006,900 33.9%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 918 902 1.8%
Lots Sold 721 724 -0.4%
Percent Sold 78.5% 80.3% -2.2%
Total Raised £173,697,710 £162,178,400 7.1%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 164 102 60.8%
Lots Sold 139 76 82.9%
Percent Sold 84.8% 74.5% 13.8%
Total Raised £95,527,100 £38,828,500 146.0%

North-East

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 424 564 -24.8%
Lots Sold 206 366 -44.5%
Percent Sold 48.6% 64.9% -26.2%
Total Raised £24,034,602 £34,726,710 -31.5%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 392 532 -26.3%
Lots Sold 187 344 -46.5%
Percent Sold 47.7% 64.7% -27.5%
Total Raised £13,733,102 £31,536,450 -57.2%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 32 32 0.0%
Lots Sold 19 22 -13.6%
Percent Sold 59.4% 68.8% -13.7%
Total Raised £10,301,500 £3,190,260 222.9%

North-West

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 1231 1297 -5.1%
Lots Sold 865 857 -0.9%
Percent Sold 70.3% 66.1% 6.4%
Total Raised £68,653,171 £79,858,725 -14.0%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 1000 1058 -5.5%
Lots Sold 713 696 2.4%
Percent Sold 71.3% 65.8% 8.4%
Total Raised £47,863,971 £53,594,425 -10.7%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 231 239 -3.3%
Lots Sold 152 161 -5.6%
Percent Sold 65.8% 67.4% -2.4%
Total Raised £20,789,200 £26,264,300 -20.8%

North-West Home Counties

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 379 352 7.7%
Lots Sold 272 266 2.3%
Percent Sold 71.8% 75.6% -5.0%
Total Raised £66,879,975 £54,053,950 23.7%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 224 289 -22.5%
Lots Sold 168 217 -22.6%
Percent Sold 75.0% 75.1% -0.1%
Total Raised £35,136,500 £34,704,700 1.2%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 155 63 146.0%
Lots Sold 104 49 112.2%
Percent Sold 67.1% 77.8% -13.8%
Total Raised £31,743,475 £19,349,250 64.1%

Scotland

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 189 106 78.3%
Lots Sold 123 74 66.2%
Percent Sold 65.1% 69.8% -6.7%
Total Raised £11,460,250 £5,777,450 98.4%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 116 57 103.5%
Lots Sold 65 39 66.7%
Percent Sold 56.0% 68.4% -18.1%
Total Raised £3,363,300 £3,301,100 1.9%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 73 49 49.0%
Lots Sold 58 35 65.7%
Percent Sold 79.5% 71.4% 11.3%
Total Raised £8,096,950 £2,476,350 227.0%

South-East Home Counties

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 931 960 -3.0%
Lots Sold 709 722 -1.8%
Percent Sold 76.2% 75.2% 1.3%
Total Raised £127,290,151 £109,109,510 167%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 703 750 -6.3%
Lots Sold 548 577 -5.0%
Percent Sold 78.0% 76.9% 1.4%
Total Raised £88,813,251 £76,223,650 16.5%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 228 210 8.6%
Lots Sold 161 145 11.0%
Percent Sold 70.6% 69.0% 2.3%
Total Raised £38,476,900 £32,885,860 17.0%

South-West

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 350 399 -12.3%
Lots Sold 268 299 -10.4%
Percent Sold 76.6% 74.9% 2.3%
Total Raised £48,850,599 £42,587,100 14.7%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 263 317 -17.0%
Lots Sold 200 240 -16.7%
Percent Sold 76.0% 75.7% -0.4%
Total Raised £29,185,099 £30,612,850 -4.7%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 87 82 6.1%
Lots Sold 68 59 15.3%
Percent Sold 78.2% 72.0% 8.6%
Total Raised £19,665,500 £11,974,250 64.2%

Wales

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 372 476 -21.8%
Lots Sold 242 350 -30.9%
Percent Sold 65.1% 75.3% -11.4%
Total Raised £23,641,800 £27,859,100 -15.1%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 314 392 -19.9%
Lots Sold 201 295 -31.9%
Percent Sold 64.0% 75.3% -15.0%
Total Raised £14,120,950 £23,292,250 -39.4%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 58 84 -31.0%
Lots Sold 41 55 -25.5%
Percent Sold 70.7% 65.5% 7.9%
Total Raised £9,520,850 £4,566,850 108.5%

West Midlands

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 586 598 -2.0%
Lots Sold 413 400 3.3%
Percent Sold 70.5% 66.9% 5.4%
Total Raised £47,740,426 £40,641,950 17.5%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 459 515 -10.9%
Lots Sold 329 341 -3.5%
Percent Sold 71.7% 66.2% 8.3%
Total Raised £28,840,176 £28,431,450 1.4%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 127 83 53.0%
Lots Sold 84 59 42.4%
Percent Sold 66.1% 71.1% -7.0%
Total Raised £18,900,250 £12,210,500 54.8%

Yorkshire and The Humber

Total
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 571 683 -16.4%
Lots Sold 409 481 -15.0%
Percent Sold 71.6% 70.4% 1.7%
Total Raised £39,886,510 £52,710,300 -24.3%
Residential
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 442 597 -26.0%
Lots Sold 312 421 -25.9%
Percent Sold 70.6% 70.5% 0.1%
Total Raised £25,951,560 £34,506,950 -24.8%
Commercial
December 2009 - February 2010 December 2008 -February 2009 Increase
Lots Offered 129 86 50.0%
Lots Sold 97 60 61.7%
Percent Sold 75.2% 69.8% 7.7%
Total Raised £13,934,950 £18,203,350 -23.4%


Your Comments

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