Essential Auction News
|
Welcome to the May newsletter that looks back at auction activity in April and preceding periods. The number of lots offered and sold at auction has fallen for a fourth consecutive month, largely due to sizeable falls witnessed in the residential property market. A total of 2,680 lots went under the hammer last month, down almost 5% on April 2014, whilst lots sold fell 3.2% to 1,965 lots and the amount raised increased slightly, to £242.4m.
Now that the general election is over, and moreover the endless speculation and uncertainty that surrounded its outcome, one hopes that confidence can be restored in the housing market and we see a return to growth before too long. Whilst interest rates remain at a record low and the private treaty market has stock in short supply, buying a property at auction can still offer an excellent investment or development opportunity. 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
|
It's a tale of two sectors again in April, as the residential auction market suffered notable falls in contrast to sizeable gains made in the commercial market. Residential lots offered and lots sold were both down on April 2014, by 9% and 8.4% respectively, yet somewhat surprisingly the total raised grew by 2.5% to £206.8m.
The recent softening in the residential market is exemplified in the rolling quarterly figures, which show falls of 6% in lots offered and 7% in lots sold, but on a positive note we are still seeing a sale rate in the mid-seventies which remains comparative to the long-term average. However this is nothing like what we saw in 2008 - 2009 when we reported on quarterly falls of 31% in lots offered and 19% in lots sold, and a 35% drop in residential auction receipts. This would indicate that we are currently witnessing a market correction in terms of lots offered. The commercial market enjoyed another strong month, with lots offered up nearly 18% on last year to 511 lots, and lots sold up a remarkable 28% to 372 lots. In contrast to the residential market, the rolling quarterly figures are a positive fare with lots offered up 6% and lots sold up nearly 9% on the equivalent period last year. |
Total
| Last Month | Last Quarter | Last Year | |||||||
|---|---|---|---|---|---|---|---|---|---|
| April 2015 | April 2014 | Increase | February 2015 - April 2015 | February 2014 - April 2014 | Increase | May 2014 - April 2015 | May 2013 - April 2014 | Increase | |
| Lots Offered | 2,680 | 2,818 | -4.9% | 9,368 | 9,758 | -4.0% | 34,682 | 34,734 | -0.1% |
| Lots Sold | 1,965 | 2,030 | -3.2% | 7,136 | 7,458 | -4.3% | 26,308 | 26,827 | -1.9% |
| Percent Sold | 73.3% | 72% | 1.8% | 76.2% | 76.4% | -0.3% | 75.9% | 77.2% | -1.7% |
| Total Raised | £242,438,823 | £238,451,721 | 1.7% | £1,107,685,381 | £1,142,468,119 | -3.0% | £4,277,889,939 | £3,986,232,112 | 7.3% |
Residential
| Last Month | Last Quarter | Last Year | |||||||
|---|---|---|---|---|---|---|---|---|---|
| April 2015 | April 2014 | Increase | February 2015 - April 2015 | February 2014 - April 2014 | Increase | May 2014 - April 2015 | May 2013 - April 2014 | Increase | |
| Lots Offered | 2,169 | 2,384 | -9.0% | 7,397 | 7,898 | -6.3% | 28,080 | 27,932 | 0.5% |
| Lots Sold | 1,593 | 1,740 | -8.4% | 5,599 | 6,045 | -7.4% | 21,212 | 21,560 | -1.6% |
| Percent Sold | 73.4% | 73% | 0.5% | 75.7% | 76.5% | -1.0% | 75.5% | 77.2% | -2.2% |
| Total Raised | £206,870,373 | £201,798,561 | 2.5% | £800,689,988 | £821,435,261 | -2.5% | £3,005,504,515 | £2,789,978,535 | 7.7% |
Commercial
| Last Month | Last Quarter | Last Year | |||||||
|---|---|---|---|---|---|---|---|---|---|
| April 2015 | April 2014 | Increase | February 2015 - April 2015 | February 2014 - April 2014 | Increase | May 2014 - April 2015 | May 2013 - April 2014 | Increase | |
| Lots Offered | 511 | 434 | 17.7% | 1,971 | 1,860 | 6.0% | 6,602 | 6,802 | -2.9% |
| Lots Sold | 372 | 290 | 28.3% | 1,537 | 1,413 | 8.8% | 5,096 | 5,267 | -3.2% |
| Percent Sold | 72.8% | 66.8% | 9.0% | 78% | 76% | 2.6% | 77.2% | 77.4% | -0.3% |
| Total Raised | £35,568,450 | £36,653,160 | -3.0% | £306,995,393 | £321,032,858 | -4.4% | £1,272,385,424 | £1,196,253,577 | 6.4% |
Regional Auction Analysis
| As is usually the case, variations across all the measurable parameters can be seen across the regions. |
East Anglia
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 292 | 286 | 2.1% |
| Lots Sold | 227 | 235 | -3.4% |
| Percent Sold | 77.7% | 82.2% | -5.5% |
| Total Raised | £30,640,550 | £39,886,555 | -23.2% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 208 | 207 | 0.5% |
| Lots Sold | 163 | 166 | -1.8% |
| Percent Sold | 78.4% | 80.2% | -2.2% |
| Total Raised | £20,052,050 | £24,143,555 | -16.9% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 84 | 79 | 6.3% |
| Lots Sold | 64 | 69 | -7.2% |
| Percent Sold | 76.2% | 87.3% | -12.7% |
| Total Raised | £10,588,500 | £15,743,000 | -32.7% |
East Midlands
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 771 | 737 | 4.6% |
| Lots Sold | 604 | 575 | 5.0% |
| Percent Sold | 78.3% | 78% | 0.4% |
| Total Raised | £68,678,001 | £66,472,043 | 3.3% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 595 | 620 | -4.0% |
| Lots Sold | 461 | 489 | -5.7% |
| Percent Sold | 77.5% | 78.9% | -1.8% |
| Total Raised | £47,513,601 | £49,861,993 | -4.7% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 176 | 117 | 50.4% |
| Lots Sold | 143 | 86 | 66.3% |
| Percent Sold | 81.3% | 73.5% | 10.6% |
| Total Raised | £21,164,400 | £16,610,050 | 27.4% |
London
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 774 | 896 | -13.6% |
| Lots Sold | 640 | 785 | -18.5% |
| Percent Sold | 82.7% | 87.6% | -5.6% |
| Total Raised | £265,077,050 | £312,486,370 | -15.2% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 713 | 814 | -12.4% |
| Lots Sold | 587 | 708 | -17.1% |
| Percent Sold | 82.3% | 87% | -5.4% |
| Total Raised | £232,783,450 | £259,339,270 | -10.2% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 61 | 82 | -25.6% |
| Lots Sold | 53 | 77 | -31.2% |
| Percent Sold | 86.9% | 93.9% | -7.5% |
| Total Raised | £32,293,600 | £53,147,100 | -39.2% |
North-East
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 837 | 971 | -13.8% |
| Lots Sold | 617 | 674 | -8.5% |
| Percent Sold | 73.7% | 69.4% | 6.2% |
| Total Raised | £51,396,931 | £56,820,889 | -9.5% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 745 | 869 | -14.3% |
| Lots Sold | 552 | 604 | -8.6% |
| Percent Sold | 74.1% | 69.5% | 6.6% |
| Total Raised | £42,724,181 | £43,501,639 | -1.8% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 92 | 102 | -9.8% |
| Lots Sold | 65 | 70 | -7.1% |
| Percent Sold | 70.7% | 68.6% | 3.1% |
| Total Raised | £8,672,750 | £13,319,250 | -34.9% |
North-West
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 1,586 | 1,802 | -12.0% |
| Lots Sold | 1,129 | 1,290 | -12.5% |
| Percent Sold | 71.2% | 71.6% | -0.6% |
| Total Raised | £101,365,547 | £110,932,510 | -8.6% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 1,218 | 1,389 | -12.3% |
| Lots Sold | 870 | 1,020 | -14.7% |
| Percent Sold | 71.4% | 73.4% | -2.7% |
| Total Raised | £66,485,243 | £73,059,150 | -9.0% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 368 | 413 | -10.9% |
| Lots Sold | 259 | 270 | -4.1% |
| Percent Sold | 70.4% | 65.4% | 7.6% |
| Total Raised | £34,880,304 | £37,873,360 | -7.9% |
North-West Home Counties
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 324 | 351 | -7.7% |
| Lots Sold | 259 | 293 | -11.6% |
| Percent Sold | 79.9% | 83.5% | -4.3% |
| Total Raised | £79,885,050 | £89,070,525 | -10.3% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 232 | 253 | -8.3% |
| Lots Sold | 187 | 208 | -10.1% |
| Percent Sold | 80.6% | 82.2% | -1.9% |
| Total Raised | £48,628,750 | £49,782,550 | -2.3% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 92 | 98 | -6.1% |
| Lots Sold | 72 | 85 | -15.3% |
| Percent Sold | 78.3% | 86.7% | -9.7% |
| Total Raised | £31,256,300 | £39,287,975 | -20.4% |
Northern Ireland
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 290 | 358 | -19.0% |
| Lots Sold | 177 | 241 | -26.6% |
| Percent Sold | 61% | 67.3% | -9.4% |
| Total Raised | £12,823,775 | £17,248,550 | -25.7% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 242 | 317 | -23.7% |
| Lots Sold | 140 | 211 | -33.6% |
| Percent Sold | 57.9% | 66.6% | -13.1% |
| Total Raised | £9,559,275 | £15,039,550 | -36.4% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 48 | 41 | 17.1% |
| Lots Sold | 37 | 30 | 23.3% |
| Percent Sold | 77.1% | 73.2% | 5.3% |
| Total Raised | £3,264,500 | £2,209,000 | 47.8% |
Scotland
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 267 | 231 | 15.6% |
| Lots Sold | 140 | 133 | 5.3% |
| Percent Sold | 52.4% | 57.6% | -9.0% |
| Total Raised | £13,968,650 | £19,581,949 | -28.7% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 196 | 170 | 15.3% |
| Lots Sold | 93 | 90 | 3.3% |
| Percent Sold | 47.4% | 52.9% | -10.4% |
| Total Raised | £4,834,150 | £4,850,849 | -0.3% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 71 | 61 | 16.4% |
| Lots Sold | 47 | 43 | 9.3% |
| Percent Sold | 66.2% | 70.5% | -6.1% |
| Total Raised | £9,134,500 | £14,731,100 | -38.0% |
South-East Home Counties
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 1,088 | 1,030 | 5.6% |
| Lots Sold | 888 | 856 | 3.7% |
| Percent Sold | 81.6% | 83.1% | -1.8% |
| Total Raised | £189,479,600 | £159,496,025 | 18.8% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 846 | 841 | 0.6% |
| Lots Sold | 695 | 702 | -1.0% |
| Percent Sold | 82.2% | 83.5% | -1.6% |
| Total Raised | £134,815,100 | £117,401,725 | 14.8% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 242 | 189 | 28.0% |
| Lots Sold | 193 | 154 | 25.3% |
| Percent Sold | 79.8% | 81.5% | -2.1% |
| Total Raised | £54,664,500 | £42,094,300 | 29.9% |
South-West
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 655 | 600 | 9.2% |
| Lots Sold | 508 | 473 | 7.4% |
| Percent Sold | 77.6% | 78.8% | -1.5% |
| Total Raised | £81,720,372 | £77,590,939 | 5.3% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 481 | 406 | 18.5% |
| Lots Sold | 360 | 316 | 13.9% |
| Percent Sold | 74.8% | 77.8% | -3.9% |
| Total Raised | £60,219,622 | £50,892,289 | 18.3% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 174 | 194 | -10.3% |
| Lots Sold | 148 | 157 | -5.7% |
| Percent Sold | 85.1% | 80.9% | 5.2% |
| Total Raised | £21,500,750 | £26,698,650 | -19.5% |
Wales
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 653 | 559 | 16.8% |
| Lots Sold | 496 | 422 | 17.5% |
| Percent Sold | 76% | 75.5% | 0.7% |
| Total Raised | £43,930,250 | £37,248,900 | 17.9% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 473 | 417 | 13.4% |
| Lots Sold | 360 | 309 | 16.5% |
| Percent Sold | 76.1% | 74.1% | 2.7% |
| Total Raised | £26,372,000 | £23,413,300 | 12.6% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 180 | 142 | 26.8% |
| Lots Sold | 136 | 113 | 20.4% |
| Percent Sold | 75.6% | 79.6% | -5.0% |
| Total Raised | £17,558,250 | £13,835,600 | 26.9% |
West Midlands
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 1,020 | 892 | 14.3% |
| Lots Sold | 822 | 691 | 19.0% |
| Percent Sold | 80.6% | 77.5% | 4.0% |
| Total Raised | £110,511,439 | £77,334,100 | 42.9% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 810 | 760 | 6.6% |
| Lots Sold | 650 | 590 | 10.2% |
| Percent Sold | 80.2% | 77.6% | 3.4% |
| Total Raised | £67,821,550 | £58,560,150 | 15.8% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 210 | 132 | 59.1% |
| Lots Sold | 172 | 101 | 70.3% |
| Percent Sold | 81.9% | 76.5% | 7.1% |
| Total Raised | £42,689,889 | £18,773,950 | 127.4% |
Yorkshire and The Humber
| Total | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 811 | 1,045 | -22.4% |
| Lots Sold | 629 | 790 | -20.4% |
| Percent Sold | 77.6% | 75.6% | 2.6% |
| Total Raised | £58,208,166 | £78,298,764 | -25.7% |
| Residential | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 638 | 835 | -23.6% |
| Lots Sold | 481 | 632 | -23.9% |
| Percent Sold | 75.4% | 75.7% | -0.4% |
| Total Raised | £38,881,016 | £51,589,241 | -24.6% |
| Commercial | |||
|---|---|---|---|
| February 2015 - April 2015 | February 2014 - April 2014 | Increase | |
| Lots Offered | 173 | 210 | -17.6% |
| Lots Sold | 148 | 158 | -6.3% |
| Percent Sold | 85.5% | 75.2% | 13.7% |
| Total Raised | £19,327,150 | £26,709,523 | -27.6% |
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. |