Essential Information Group

December 2016 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the December newsletter that looks back at auction activity in November and preceding periods. Overall lots offered was down 7.6% last month, from 2,341 lots to 2,163 lots, whilst lots sold fell over 10% to 1,591 lots from 1,774 in November 2015. Despite the dip in sales, auctioneers saw revenues increase by 2%, from £272M to £277M.

These results are indicative of the market's form over the last 6-9 months, and are perhaps unsurprising given that the economic and political backdrop has changed markedly during this period. It would be a brave man to predict what the future holds in 2017, but one can be sure that auctions will continue to provide a quick, transparent and effective means of buying and selling property.

May I take this opportunity to wish you all a peaceful holiday and a prosperous new year. As always I appreciate any feedback or suggestions you might have on our services and newsletters.
Overall Statistics November 2016
Auctions Held in the UK 118
Total Lots Offered 2,163
Total Lots Sold 1,591
Percent Sold 73.6%
Total Realised £277,370,001

National Auction Analysis

The residential auction sector saw a marginal fall in lots offered last month, from 1,990 to 1,969 lots (down 1.1%). Lots sold fell from 1,508 to 1,437 lots (down 4.7%) but encouragingly residential revenues were up 7%, from £239M to £255M. The rolling quarterly figures show falls in all 4 metrics measured and highlight the recent dip seen throughout the industry.

Commercial figures have fluctuated vastly over the last few months, and following gains made in lots offered and lots sold in October the figures below show double-digit falls for the same metrics during November.

However, no London commercial auction houses held an auction during November, meaning that the numbers are solely made up of commercial lots offered by residential auctioneers and therefore one shouldn't read too much into the drop. Next month's newsletter, released in early January, will provide a more accurate barometer of the health of the market.

Overall

N.B. Figures in brackets denote the comparative period last year

November 2016 September 2016 to November 2016 December 2015 to November 2016
Lots Offered 2,163 (2,341) 7.6% 9,042 (9,516) 5.0% 33,437 (33,351) 0.3%
Lots Sold 1,591 (1,774) 10.3% 6,663 (7,132) 6.6% 25,299 (25,516) 0.9%
Percent Sold 73.6% (75.8%) 2.9% 73.7% (74.9%) 1.6% 75.7% (76.5%) 1.0%
Total Raised £277M (£272M) 2.0% £1,131M (£1,227M) 7.8% £4,552M (£4,347M) 4.7%

Residential

N.B. Figures in brackets denote the comparative period last year

November 2016 September 2016 to November 2016 December 2015 to November 2016
Lots Offered 1,969 (1,990) 1.1% 7,503 (7,830) 4.2% 27,697 (26,835) 3.2%
Lots Sold 1,437 (1,508) 4.7% 5,496 (5,860) 6.2% 20,814 (20,411) 2.0%
Percent Sold 73.0% (75.8%) 3.7% 73.3% (74.8%) 2.0% 75.1% (76.1%) 1.3%
Total Raised £255M (£239M) 7.0% £846M (£922M) 8.2% £3,212M (£3,070M) 4.6%

Commercial

N.B. Figures in brackets denote the comparative period last year

November 2016 September 2016 to November 2016 December 2015 to November 2016
Lots Offered 194 (351) 44.7% 1,539 (1,686) 8.7% 5,740 (6,516) 11.9%
Lots Sold 154 (266) 42.1% 1,167 (1,272) 8.3% 4,485 (5,105) 12.1%
Percent Sold 79.4% (75.8%) 4.7% 75.8% (75.4%) 0.5% 78.1% (78.3%) 0.3%
Total Raised £22M (£33M) 34.1% £285M (£305M) 6.5% £1,341M (£1,278M) 4.9%

Regional Auction Analysis

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

N.B. Figures in brackets denote the comparative period last year

East-AngliaEast Anglia

September 2016 to November 2016 Total Residential Commercial
Lots Offered 253 (237) 6.8% 179 (171) 4.7% 74 (66) 12.1%
Lots Sold 198 (176) 12.5% 137 (125) 9.6% 61 (51) 19.6%
Percent Sold 78.3% (74.3%) 5.4% 76.5% (73.1%) 4.7% 82.4% (77.3%) 6.6%
Total Raised £34M (£32M) 6.8% £20M (£17M) 15.9% £14M (£15M) 3.8%

East-MidlandsEast Midlands

September 2016 to November 2016 Total Residential Commercial
Lots Offered 793 (813) 2.5% 681 (671) 1.5% 112 (142) 21.1%
Lots Sold 605 (610) 0.8% 516 (498) 3.6% 89 (112) 20.5%
Percent Sold 76.3% (75.0%) 1.7% 75.8% (74.2%) 2.2% 79.5% (78.9%) 0.8%
Total Raised £73M (£78M) 7.1% £55M (£57M) 2.2% £17M (£21M) 20.2%

LondonLondon

September 2016 to November 2016 Total Residential Commercial
Lots Offered 733 (808) 9.3% 690 (734) 6.0% 43 (74) 41.9%
Lots Sold 529 (624) 15.2% 493 (554) 11.0% 36 (70) 48.6%
Percent Sold 72.2% (77.2%) 6.5% 71.4% (75.5%) 5.4% 83.7% (94.6%) 11.5%
Total Raised £241M (£269M) 10.5% £218M (£241M) 9.4% £23M (£28M) 19.4%

North-EastNorth-East

September 2016 to November 2016 Total Residential Commercial
Lots Offered 781 (782) 0.1% 706 (721) 2.1% 75 (61) 23.0%
Lots Sold 552 (550) 0.4% 500 (518) 3.5% 52 (32) 62.5%
Percent Sold 70.7% (70.3%) 0.6% 70.8% (71.8%) 1.4% 69.3% (52.5%) 32.0%
Total Raised £43M (£43M) 1.2% £35M (£37M) 6.0% £8M (£6M) 26.8%

North-WestNorth-West

September 2016 to November 2016 Total Residential Commercial
Lots Offered 1,393 (1,573) 11.4% 1,164 (1,298) 10.3% 229 (275) 16.7%
Lots Sold 1,028 (1,131) 9.1% 864 (934) 7.5% 164 (197) 16.8%
Percent Sold 73.8% (71.9%) 2.6% 74.2% (72.0%) 3.1% 71.6% (71.6%) 0.0%
Total Raised £105M (£106M) 1.0% £73M (£83M) 12.1% £31M (£22M) 40.8%

North-West-Home-CountiesNorth-West Home Counties

September 2016 to November 2016 Total Residential Commercial
Lots Offered 408 (327) 24.8% 315 (254) 24.0% 93 (73) 27.4%
Lots Sold 345 (269) 28.3% 264 (210) 25.7% 81 (59) 37.3%
Percent Sold 84.6% (82.3%) 2.8% 83.8% (82.7%) 1.3% 87.1% (80.8%) 7.8%
Total Raised £107M (£96M) 11.2% £72M (£66M) 8.7% £35M (£30M) 16.5%

Northern-IrelandNorthern Ireland

September 2016 to November 2016 Total Residential Commercial
Lots Offered 174 (232) 25.0% 134 (176) 23.9% 40 (56) 28.6%
Lots Sold 103 (147) 29.9% 72 (104) 30.8% 31 (43) 27.9%
Percent Sold 59.2% (63.4%) 6.6% 53.7% (59.1%) 9.1% 77.5% (76.8%) 0.9%
Total Raised £9M (£13M) 33.0% £5M (£9M) 40.1% £3M (£4M) 16.5%

ScotlandScotland

September 2016 to November 2016 Total Residential Commercial
Lots Offered 247 (272) 9.2% 192 (201) 4.5% 55 (71) 22.5%
Lots Sold 118 (182) 35.2% 76 (125) 39.2% 42 (57) 26.3%
Percent Sold 47.8% (66.9%) 28.6% 39.6% (62.2%) 36.3% 76.4% (80.3%) 4.9%
Total Raised £12M (£30M) 58.7% £5M (£15M) 69.3% £8M (£15M) 47.8%

South-East-Home-CountiesSouth-East Home Counties

September 2016 to November 2016 Total Residential Commercial
Lots Offered 1,011 (1,089) 7.2% 814 (896) 9.2% 197 (193) 2.1%
Lots Sold 775 (896) 13.5% 622 (745) 16.5% 153 (151) 1.3%
Percent Sold 76.7% (82.3%) 6.8% 76.4% (83.1%) 8.1% 77.7% (78.2%) 0.6%
Total Raised £186M (£221M) 15.8% £136M (£167M) 18.6% £51M (£54M) 7.2%

South-WestSouth-West

September 2016 to November 2016 Total Residential Commercial
Lots Offered 711 (779) 8.7% 509 (558) 8.8% 202 (221) 8.6%
Lots Sold 527 (566) 6.9% 374 (407) 8.1% 153 (159) 3.8%
Percent Sold 74.1% (72.7%) 1.9% 73.5% (72.9%) 0.8% 75.7% (71.9%) 5.3%
Total Raised £100M (£113M) 11.6% £70M (£79M) 11.4% £30M (£34M) 12.2%

WalesWales

September 2016 to November 2016 Total Residential Commercial
Lots Offered 644 (681) 5.4% 518 (536) 3.4% 126 (145) 13.1%
Lots Sold 465 (506) 8.1% 373 (399) 6.5% 92 (107) 14.0%
Percent Sold 72.2% (74.3%) 2.8% 72.0% (74.4%) 3.2% 73.0% (73.8%) 1.1%
Total Raised £43M (£43M) 0.2% £32M (£30M) 6.2% £11M (£13M) 14.0%

West-MidlandsWest Midlands

September 2016 to November 2016 Total Residential Commercial
Lots Offered 1,018 (1,049) 3.0% 862 (860) 0.2% 156 (189) 17.5%
Lots Sold 771 (818) 5.7% 656 (669) 1.9% 115 (149) 22.8%
Percent Sold 75.7% (78.0%) 2.9% 76.1% (77.8%) 2.2% 73.7% (78.8%) 6.5%
Total Raised £105M (£112M) 6.6% £75M (£73M) 3.1% £30M (£39M) 24.5%

Yorkshire-and-The-HumberYorkshire and The Humber

September 2016 to November 2016 Total Residential Commercial
Lots Offered 876 (874) 0.2% 739 (754) 2.0% 137 (120) 14.2%
Lots Sold 647 (657) 1.5% 549 (572) 4.0% 98 (85) 15.3%
Percent Sold 73.9% (75.2%) 1.7% 74.3% (75.9%) 2.1% 71.5% (70.8%) 1.0%
Total Raised £75M (£71M) 6.0% £50M (£48M) 4.6% £24M (£22M) 8.9%

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.

A word from the editor

David Sandeman
As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general.

Kind regards

David Sandeman

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