Auction Data for May 2015


Essential Auction News

David Sandeman, Managing Director Welcome to the June newsletter that looks back at auction activity in May and preceding periods. Lots offered and sold both fell by 20% last month, whilst total raised fell 10% to £422.8m. The recent reduction in auction activity could be attributed to vendors having been sitting on their properties, postponing their decision to instruct whilst waiting on the result of the general election held on the 7th May. Certainly there have been recent articles published by both Halifax and RICS that report on a fall in private treaty instructions, and the auction market would appear to be mirroring this situation.

Now that we have a majority government, a continuation of record-low interest rates and an increasing demand for rental properties, one hopes that vendors will be quick to return to the market as there is certainly no lack of demand for stock as the 76.5% sale rate indicates.

As ever I would welcome any comments or feedback you might have regarding the newsletter or indeed the wider market in general.

Kind regards

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

National Auction Analysis

Residential lots offered fell by 24% last month, to 1,979 lots, whilst lots sold fell by 26% to 1,494 lots. Encouragingly the percent sold still resided in the mid-seventies, at 75.5%, which is comparable to the long-term average and demonstrates that there remains a compelling appetite amongst buyers for residential auction stock.

The commercial auction market fared reasonably well in May, as almost 80% of all lots offered were sold raising over £175m in the process (up 12.6% on May 2014). Following successive gains made in both April and in March, the rolling quarterly figures are very positive with lots offered and sold both up 5% and 11% respectively on the corresponding period last year.

Total

Last Month Last Quarter Last Year
May 2015 May 2014 Increase March 2015 - May 2015 March 2014 - May 2014 Increase June 2014 - May 2015 June 2013 - May 2014 Increase
Lots Offered 2,640 3,319 -20.5% 8,183 9,049 -9.6% 33,995 34,762 -2.2%
Lots Sold 2,019 2,543 -20.6% 6,155 6,842 -10.0% 25,667 26,747 -4.0%
Percent Sold 76.5% 76.6% -0.1% 75.2% 75.6% -0.5% 75.5% 76.9% -1.8%
Total Raised £422,875,827 £471,929,704 -10.4% £1,053,344,385 £1,115,768,416 -5.6% £4,183,283,217 £3,996,993,047 4.7%

Residential

Last Month Last Quarter Last Year
May 2015 May 2014 Increase March 2015 - May 2015 March 2014 - May 2014 Increase June 2014 - May 2015 June 2013 - May 2014 Increase
Lots Offered 1,979 2,618 -24.4% 6,379 7,333 -13.0% 27,429 28,016 -2.1%
Lots Sold 1,494 2,024 -26.2% 4,752 5,578 -14.8% 20,608 21,583 -4.5%
Percent Sold 75.5% 77.3% -2.3% 74.5% 76.1% -2.1% 75.1% 77% -2.5%
Total Raised £247,142,617 £315,874,814 -21.8% £704,085,550 £778,925,933 -9.6% £2,924,851,923 £2,829,114,185 3.4%

Commercial

Last Month Last Quarter Last Year
May 2015 May 2014 Increase March 2015 - May 2015 March 2014 - May 2014 Increase June 2014 - May 2015 June 2013 - May 2014 Increase
Lots Offered 661 701 -5.7% 1,804 1,716 5.1% 6,566 6,746 -2.7%
Lots Sold 525 519 1.2% 1,403 1,264 11.0% 5,059 5,164 -2.0%
Percent Sold 79.4% 74% 7.3% 77.8% 73.7% 5.6% 77% 76.5% 0.7%
Total Raised £175,733,210 £156,054,890 12.6% £349,258,835 £336,842,483 3.7% £1,258,431,294 £1,167,878,862 7.8%


Regional Auction Analysis

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

East Anglia

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 223 284 -21.5%
Lots Sold 176 232 -24.1%
Percent Sold 78.9% 81.7% -3.4%
Total Raised £27,056,800 £39,201,250 -31.0%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 151 206 -26.7%
Lots Sold 115 167 -31.1%
Percent Sold 76.2% 81.1% -6.0%
Total Raised £16,241,300 £23,881,050 -32.0%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 72 78 -7.7%
Lots Sold 61 65 -6.2%
Percent Sold 84.7% 83.3% 1.7%
Total Raised £10,815,500 £15,320,200 -29.4%


East Midlands

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 677 757 -10.6%
Lots Sold 524 565 -7.3%
Percent Sold 77.4% 74.6% 3.8%
Total Raised £58,440,650 £63,680,700 -8.2%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 517 626 -17.4%
Lots Sold 394 474 -16.9%
Percent Sold 76.2% 75.7% 0.7%
Total Raised £39,815,000 £47,302,150 -15.8%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 160 131 22.1%
Lots Sold 130 91 42.9%
Percent Sold 81.3% 69.5% 17.0%
Total Raised £18,625,650 £16,378,550 13.7%


London

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 673 810 -16.9%
Lots Sold 562 708 -20.6%
Percent Sold 83.5% 87.4% -4.5%
Total Raised £260,458,250 £319,372,800 -18.4%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 615 731 -15.9%
Lots Sold 511 639 -20.0%
Percent Sold 83.1% 87.4% -4.9%
Total Raised £211,996,750 £258,123,300 -17.9%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 58 79 -26.6%
Lots Sold 51 69 -26.1%
Percent Sold 87.9% 87.3% 0.7%
Total Raised £48,461,500 £61,249,500 -20.9%


North-East

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 821 941 -12.8%
Lots Sold 581 653 -11.0%
Percent Sold 70.8% 69.4% 2.0%
Total Raised £52,141,531 £51,070,410 2.1%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 728 846 -13.9%
Lots Sold 511 589 -13.2%
Percent Sold 70.2% 69.6% 0.9%
Total Raised £39,244,781 £41,590,520 -5.6%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 93 95 -2.1%
Lots Sold 70 64 9.4%
Percent Sold 75.3% 67.4% 11.7%
Total Raised £12,896,750 £9,479,890 36.0%


North-West

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 1,274 1,488 -14.4%
Lots Sold 887 1,063 -16.6%
Percent Sold 69.6% 71.4% -2.5%
Total Raised £93,381,836 £100,222,460 -6.8%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 1,017 1,196 -15.0%
Lots Sold 708 869 -18.5%
Percent Sold 69.6% 72.7% -4.3%
Total Raised £54,691,351 £63,187,150 -13.4%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 257 292 -12.0%
Lots Sold 179 194 -7.7%
Percent Sold 69.6% 66.4% 4.8%
Total Raised £38,690,485 £37,035,310 4.5%


North-West Home Counties

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 284 371 -23.5%
Lots Sold 234 312 -25.0%
Percent Sold 82.4% 84.1% -2.0%
Total Raised £85,155,750 £99,030,325 -14.0%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 192 260 -26.2%
Lots Sold 156 219 -28.8%
Percent Sold 81.3% 84.2% -3.4%
Total Raised £45,296,500 £53,305,300 -15.0%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 92 111 -17.1%
Lots Sold 78 93 -16.1%
Percent Sold 84.8% 83.8% 1.2%
Total Raised £39,859,250 £45,725,025 -12.8%


Northern Ireland

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 282 256 10.2%
Lots Sold 169 184 -8.2%
Percent Sold 59.9% 71.9% -16.7%
Total Raised £12,521,225 £13,244,800 -5.5%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 234 222 5.4%
Lots Sold 132 156 -15.4%
Percent Sold 56.4% 70.3% -19.8%
Total Raised £9,256,725 £11,078,300 -16.4%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 48 34 41.2%
Lots Sold 37 28 32.1%
Percent Sold 77.1% 82.4% -6.4%
Total Raised £3,264,500 £2,166,500 50.7%


Scotland

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 316 280 12.9%
Lots Sold 178 164 8.5%
Percent Sold 56.3% 58.6% -3.9%
Total Raised £16,485,205 £20,472,109 -19.5%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 229 238 -3.8%
Lots Sold 122 138 -11.6%
Percent Sold 53.3% 58% -8.1%
Total Raised £6,867,805 £8,027,309 -14.4%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 87 42 107.1%
Lots Sold 56 26 115.4%
Percent Sold 64.4% 61.9% 4.0%
Total Raised £9,617,400 £12,444,800 -22.7%


South-East Home Counties

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 1,047 928 12.8%
Lots Sold 840 750 12.0%
Percent Sold 80.2% 80.8% -0.7%
Total Raised £183,412,800 £148,717,335 23.3%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 801 740 8.2%
Lots Sold 648 605 7.1%
Percent Sold 80.9% 81.8% -1.1%
Total Raised £119,801,350 £102,779,900 16.6%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 246 188 30.9%
Lots Sold 192 145 32.4%
Percent Sold 78% 77.1% 1.2%
Total Raised £63,611,450 £45,937,435 38.5%


South-West

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 603 596 1.2%
Lots Sold 477 473 0.8%
Percent Sold 79.1% 79.4% -0.4%
Total Raised £78,321,622 £76,440,849 2.5%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 424 391 8.4%
Lots Sold 322 312 3.2%
Percent Sold 75.9% 79.8% -4.9%
Total Raised £57,330,872 £47,048,949 21.9%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 179 205 -12.7%
Lots Sold 155 161 -3.7%
Percent Sold 86.6% 78.5% 10.3%
Total Raised £20,990,750 £29,391,900 -28.6%


Wales

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 599 572 4.7%
Lots Sold 470 416 13.0%
Percent Sold 78.5% 72.7% 8.0%
Total Raised £46,698,550 £38,782,200 20.4%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 398 415 -4.1%
Lots Sold 318 304 4.6%
Percent Sold 79.9% 73.3% 9.0%
Total Raised £24,489,700 £22,934,200 6.8%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 201 157 28.0%
Lots Sold 152 112 35.7%
Percent Sold 75.6% 71.3% 6.0%
Total Raised £22,208,850 £15,848,000 40.1%


West Midlands

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 724 953 -24.0%
Lots Sold 566 728 -22.3%
Percent Sold 78.2% 76.4% 2.4%
Total Raised £90,611,200 £83,096,704 9.0%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 552 802 -31.2%
Lots Sold 433 620 -30.2%
Percent Sold 78.4% 77.3% 1.4%
Total Raised £47,800,100 £59,888,704 -20.2%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 172 151 13.9%
Lots Sold 133 108 23.1%
Percent Sold 77.3% 71.5% 8.1%
Total Raised £42,811,100 £23,208,000 84.5%


Yorkshire and The Humber

Total
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 660 813 -18.8%
Lots Sold 491 594 -17.3%
Percent Sold 74.4% 73.1% 1.8%
Total Raised £48,658,966 £62,436,474 -22.1%


Residential
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 521 660 -21.1%
Lots Sold 382 486 -21.4%
Percent Sold 73.3% 73.6% -0.4%
Total Raised £31,253,316 £39,779,101 -21.4%


Commercial
March 2015 - May 2015 March 2014 - May 2014 Increase
Lots Offered 139 153 -9.2%
Lots Sold 109 108 0.9%
Percent Sold 78.4% 70.6% 11.0%
Total Raised £17,405,650 £22,657,373 -23.2%


Your Comments

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