Auction Data for October 2011

Essential Auction News

David Sandeman, Managing Director Welcome to the November newsletter that looks at auctions held in October 2011 and the rolling quarterly and yearly figures. An overall 'Sale Rate' of 72.2% (up from 63.8% in October 2010) continues the positive signs we have been seeing over the last 6-9 months. Whilst there has been a slight reduction in 'Lots Offered' and 'Amounts Raised' in October 2011 when compared with October 2010, the number of 'Lots Sold' actually increased in both sectors across all 3 periods, and the 'Percent Sold' followed suit.

One reason for this could be the continued focus of auctioneers on setting realistic reserves and being more selective in the instructions they take. This would account for the figures witnessed below.

As ever I welcome any comments you may have on this or indeed the wider market itself.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk
01737 232 289

National Auction Analysis

The reduction in 'Lots Offered' and 'Amounts Raised' in October was predominantly due to falls in the residential market (down by 11.3% and 9.9% respectively). However, 73% of the lots that were offered went on to sell - an increase of over 16% on October 2010, and the commercial market also touched on 70% (a 5% increase).

The longer term outlook deduced from the quarterly and yearly sections show broadly positive figures, with only very slight reductions in the commercial 'Amounts Raised' for the month and year. As has been the case in the past few months, overall it is an encouraging set of results, with positive increases seen in the majority of metrics.

Total

Last Month Last Quarter Last Year
October 2011 October 2010 Increase August 2011 - October 2011 August 2010 - October 2010 Increase November 2010 - October 2011 November 2009 - October 2010 Increase
Lots Offered 3,329 3,515 -5.3% 8,191 8,073 1.5% 32,453 31,382 3.4%
Lots Sold 2,402 2,241 7.2% 5,905 5,263 12.2% 23,519 21,625 8.8%
Percent Sold 72.2% 63.8% 13.2% 72.1% 65.2% 10.6% 72.5% 68.9% 5.2%
Total Raised £366,866,240 £394,388,174 -7.0% £770,482,784 £732,006,304 5.3% £3,351,375,426 £3,305,649,719 1.4%

Residential

Last Month Last Quarter Last Year
October 2011 October 2010 Increase August 2011 - October 2011 August 2010 - October 2010 Increase November 2010 - October 2011 November 2009 - October 2010 Increase
Lots Offered 2,408 2,716 -11.3% 6,442 6,528 -1.3% 26,055 25,004 4.2%
Lots Sold 1,759 1,709 2.9% 4,681 4,246 10.2% 18,891 17,136 10.2%
Percent Sold 73% 62.9% 16.1% 72.7% 65% 11.8% 72.5% 68.5% 5.8%
Total Raised £222,656,840 £247,208,124 -9.9% £546,151,729 £526,251,404 3.8% £2,270,387,958 £2,198,279,675 3.3%

Commercial

Last Month Last Quarter Last Year
October 2011 October 2010 Increase August 2011 - October 2011 August 2010 - October 2010 Increase November 2010 - October 2011 November 2009 - October 2010 Increase
Lots Offered 919 799 15.0% 1,728 1,545 11.8% 6,398 6,375 0.4%
Lots Sold 642 532 20.7% 1,211 1,017 19.1% 4,628 4,489 3.1%
Percent Sold 69.9% 66.6% 5.0% 70.1% 65.8% 6.5% 72.3% 70.4% 2.7%
Total Raised £144,178,900 £147,180,050 -2.0% £223,392,555 £205,754,900 8.6% £1,080,987,468 £1,107,370,044 -2.4%


Regional Auction Analysis

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

East Anglia

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 200 256 -21.9%
Lots Sold 146 182 -19.8%
Percent Sold 73% 71.1% 2.7%
Total Raised £20,887,500 £25,561,950 -18.3%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 141 214 -34.1%
Lots Sold 103 152 -32.2%
Percent Sold 73% 71% 2.8%
Total Raised £15,733,000 £17,037,250 -7.7%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 59 42 40.5%
Lots Sold 43 30 43.3%
Percent Sold 72.9% 71.4% 2.1%
Total Raised £5,154,500 £8,524,700 -39.5%


East Midlands

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 685 647 5.9%
Lots Sold 510 443 15.1%
Percent Sold 74.5% 68.5% 8.8%
Total Raised £56,682,612 £42,930,975 32.0%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 516 525 -1.7%
Lots Sold 389 361 7.8%
Percent Sold 75.4% 68.8% 9.6%
Total Raised £33,448,812 £32,324,475 3.5%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 169 122 38.5%
Lots Sold 121 82 47.6%
Percent Sold 71.6% 67.2% 6.5%
Total Raised £23,233,800 £10,606,500 119.1%


London

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 744 937 -20.6%
Lots Sold 577 679 -15.0%
Percent Sold 77.6% 72.5% 7.0%
Total Raised £160,470,325 £220,521,350 -27.2%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 661 812 -18.6%
Lots Sold 516 585 -11.8%
Percent Sold 78.1% 72% 8.5%
Total Raised £129,206,825 £168,814,300 -23.5%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 83 125 -33.6%
Lots Sold 61 94 -35.1%
Percent Sold 73.5% 75.2% -2.3%
Total Raised £31,263,500 £51,707,050 -39.5%


North-East

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 735 646 13.8%
Lots Sold 520 337 54.3%
Percent Sold 70.7% 52.2% 35.4%
Total Raised £43,643,419 £28,137,815 55.1%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 670 599 11.9%
Lots Sold 481 314 53.2%
Percent Sold 71.8% 52.4% 37.0%
Total Raised £37,528,119 £22,627,815 65.8%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 65 47 38.3%
Lots Sold 39 23 69.6%
Percent Sold 60% 48.9% 22.7%
Total Raised £6,115,300 £5,510,000 11.0%


North-West

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 1,435 1,417 1.3%
Lots Sold 998 895 11.5%
Percent Sold 69.5% 63.2% 10.0%
Total Raised £89,094,190 £84,684,646 5.2%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 1,106 1,039 6.4%
Lots Sold 778 662 17.5%
Percent Sold 70.3% 63.7% 10.4%
Total Raised £58,050,835 £53,809,896 7.9%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 329 378 -13.0%
Lots Sold 220 233 -5.6%
Percent Sold 66.9% 61.6% 8.6%
Total Raised £31,043,355 £30,874,750 0.5%


North-West Home Counties

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 345 355 -2.8%
Lots Sold 270 253 6.7%
Percent Sold 78.3% 71.3% 9.8%
Total Raised £61,750,495 £48,994,900 26.0%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 273 292 -6.5%
Lots Sold 218 211 3.3%
Percent Sold 79.9% 72.3% 10.5%
Total Raised £39,818,995 £35,209,150 13.1%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 72 63 14.3%
Lots Sold 52 42 23.8%
Percent Sold 72.2% 66.7% 8.2%
Total Raised £21,931,500 £13,785,750 59.1%


Scotland

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 98 135 -27.4%
Lots Sold 47 87 -46.0%
Percent Sold 48% 64.4% -25.5%
Total Raised £4,049,966 £6,626,375 -38.9%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 66 110 -40.0%
Lots Sold 31 72 -56.9%
Percent Sold 47% 65.5% -28.2%
Total Raised £1,464,366 £4,270,375 -65.7%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 32 25 28.0%
Lots Sold 16 15 6.7%
Percent Sold 50% 60% -16.7%
Total Raised £2,585,600 £2,356,000 9.7%


South-East Home Counties

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 892 838 6.4%
Lots Sold 663 590 12.4%
Percent Sold 74.3% 70.4% 5.5%
Total Raised £103,824,480 £91,623,945 13.3%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 699 670 4.3%
Lots Sold 525 480 9.4%
Percent Sold 75.1% 71.6% 4.9%
Total Raised £75,130,730 £65,104,445 15.4%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 193 168 14.9%
Lots Sold 138 110 25.5%
Percent Sold 71.5% 65.5% 9.2%
Total Raised £28,693,750 £26,519,500 8.2%


South-West

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 680 617 10.2%
Lots Sold 482 396 21.7%
Percent Sold 70.9% 64.2% 10.4%
Total Raised £71,260,700 £55,722,750 27.9%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 462 450 2.7%
Lots Sold 309 270 14.4%
Percent Sold 66.9% 60% 11.5%
Total Raised £41,964,200 £35,254,700 19.0%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 218 167 30.5%
Lots Sold 173 126 37.3%
Percent Sold 79.4% 75.4% 5.3%
Total Raised £29,296,500 £20,468,050 43.1%


Wales

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 556 671 -17.1%
Lots Sold 387 394 -1.8%
Percent Sold 69.6% 58.7% 18.6%
Total Raised £28,059,697 £31,629,956 -11.3%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 431 534 -19.3%
Lots Sold 308 311 -1.0%
Percent Sold 71.5% 58.2% 22.9%
Total Raised £21,584,547 £20,685,706 4.3%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 125 137 -8.8%
Lots Sold 79 83 -4.8%
Percent Sold 63.2% 60.6% 4.3%
Total Raised £6,475,150 £10,944,250 -40.8%


West Midlands

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 882 758 16.4%
Lots Sold 666 482 38.2%
Percent Sold 75.5% 63.6% 18.7%
Total Raised £75,444,850 £51,508,396 46.5%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 639 610 4.8%
Lots Sold 493 388 27.1%
Percent Sold 77.2% 63.6% 21.4%
Total Raised £48,531,250 £36,973,346 31.3%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 243 148 64.2%
Lots Sold 173 94 84.0%
Percent Sold 71.2% 63.5% 12.1%
Total Raised £26,913,600 £14,535,050 85.2%


Yorkshire and The Humber

Total
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 810 688 17.7%
Lots Sold 556 484 14.9%
Percent Sold 68.6% 70.3% -2.4%
Total Raised £49,193,050 £42,218,496 16.5%


Residential
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 670 565 18.6%
Lots Sold 460 399 15.3%
Percent Sold 68.7% 70.6% -2.7%
Total Raised £38,507,050 £32,295,196 19.2%


Commercial
August 2011 - October 2011 August 2010 - October 2010 Increase
Lots Offered 140 123 13.8%
Lots Sold 96 85 12.9%
Percent Sold 68.6% 69.1% -0.7%
Total Raised £10,686,000 £9,923,300 7.7%


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.