Auction Data for February 2016


Essential Auction News

David Sandeman, Managing Director Welcome to the March newsletter that looks back at auction activity in February and preceding periods. In last month's newsletter I mentioned that the impending changes to the stamp duty tax would likely lead to an upsurge in the auction market, and figures below certainly corroborate those remarks.

Overall lots offered rose by over 16%, from 3,831 to 4,450 lots, whilst lots sold saw equally impressive gains - a staggering 3,472 lots sold last month compared with 2,995 lots sold last year - also up 16%. Our records show these to be the highest numbers ever recorded in the month of February - beating the previous highs of 4,412 lots offered and 3,430 lots sold in February 2007.

I expect things may begin to settle down now, as time runs out for buyers wanting to complete their transaction before the 1st April. However, the last few months has demonstrated once again that auctions provide a fantastic opportunity for anyone looking to secure property in a quick, decisive and uncomplicated manner.

Kind regards

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

National Auction Analysis

As expected the residential auction market made huge gains last month, breaking some long-standing records in the process. Lots offered climbed 25% to 3,756 lots - over 750 more than in February 2015 and just 63 lots short of the record 3,819 lots offered in July 2008 when the market was saturated with repossessions.

The total number of residential auction sales also rocketed by more than 25%, up from 2,335 to 2,928 lots with a total value exceeding £483.7m (up 41%). These totals surpassed the previous records that were both set in the heady days of 2007, when auction sales peaked in February with 2,681 lots sold and residential amounts raised peaked in July with £470.1m.

Meanwhile in the commercial sector lots offered and lots sold both fell by 16% and 18% respectively, however the amount raised increased by over 40% to £190m.

Total

Last Month Last Quarter Last Year
February 2016 February 2015 Increase December 2015 - February 2016 December 2014 - February 2015 Increase March 2015 - February 2016 March 2014 - February 2015 Increase
Lots Offered 4,450 3,831 16.2% 8,281 7,836 5.7% 33,881 34,804 -2.7%
Lots Sold 3,472 2,995 15.9% 6,451 5,997 7.6% 26,334 26,612 -1.0%
Percent Sold 78% 78.2% -0.3% 77.9% 76.5% 1.8% 77.7% 76.5% 1.6%
Total Raised £673,779,833 £477,331,494 41.2% £1,228,129,999 £1,003,529,113 22.4% £4,681,670,382 £4,337,913,079 7.9%

Residential

Last Month Last Quarter Last Year
February 2016 February 2015 Increase December 2015 - February 2016 December 2014 - February 2015 Increase March 2015 - February 2016 March 2014 - February 2015 Increase
Lots Offered 3,756 3,002 25.1% 6,944 6,199 12.0% 27,630 28,344 -2.5%
Lots Sold 2,928 2,335 25.4% 5,380 4,706 14.3% 21,377 21,613 -1.1%
Percent Sold 78% 77.8% 0.3% 77.5% 75.9% 2.1% 77.4% 76.3% 1.4%
Total Raised £483,765,433 £342,272,455 41.3% £854,098,056 £682,093,276 25.2% £3,303,808,750 £3,032,630,041 8.9%

Commercial

Last Month Last Quarter Last Year
February 2016 February 2015 Increase December 2015 - February 2016 December 2014 - February 2015 Increase March 2015 - February 2016 March 2014 - February 2015 Increase
Lots Offered 694 829 -16.3% 1,337 1,637 -18.3% 6,251 6,460 -3.2%
Lots Sold 544 660 -17.6% 1,071 1,291 -17.0% 4,957 4,999 -0.8%
Percent Sold 78.4% 79.6% -1.5% 80.1% 78.9% 1.5% 79.3% 77.4% 2.5%
Total Raised £190,014,400 £135,059,039 40.7% £374,031,943 £321,435,837 16.4% £1,377,861,632 £1,305,283,038 5.6%


Regional Auction Analysis

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

East Anglia

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 250 274 -8.8%
Lots Sold 201 224 -10.3%
Percent Sold 80.4% 81.8% -1.7%
Total Raised £33,221,625 £35,956,250 -7.6%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 188 205 -8.3%
Lots Sold 154 174 -11.5%
Percent Sold 81.9% 84.9% -3.5%
Total Raised £21,212,075 £23,157,750 -8.4%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 62 69 -10.1%
Lots Sold 47 50 -6.0%
Percent Sold 75.8% 72.5% 4.6%
Total Raised £12,009,550 £12,798,500 -6.2%


East Midlands

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 711 665 6.9%
Lots Sold 553 511 8.2%
Percent Sold 77.8% 76.8% 1.3%
Total Raised £81,473,590 £61,846,742 31.7%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 609 534 14.0%
Lots Sold 473 405 16.8%
Percent Sold 77.7% 75.8% 2.5%
Total Raised £53,175,240 £39,157,165 35.8%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 102 131 -22.1%
Lots Sold 80 106 -24.5%
Percent Sold 78.4% 80.9% -3.1%
Total Raised £28,298,350 £22,689,577 24.7%


London

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 815 714 14.1%
Lots Sold 672 580 15.9%
Percent Sold 82.5% 81.2% 1.6%
Total Raised £310,866,450 £246,139,800 26.3%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 737 648 13.7%
Lots Sold 601 520 15.6%
Percent Sold 81.5% 80.2% 1.6%
Total Raised £266,781,250 £216,689,700 23.1%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 78 66 18.2%
Lots Sold 71 60 18.3%
Percent Sold 91% 90.9% 0.1%
Total Raised £44,085,200 £29,450,100 49.7%


North-East

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 808 777 4.0%
Lots Sold 609 582 4.6%
Percent Sold 75.4% 74.9% 0.7%
Total Raised £50,099,037 £50,026,200 0.1%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 744 694 7.2%
Lots Sold 560 520 7.7%
Percent Sold 75.3% 74.9% 0.5%
Total Raised £40,312,537 £38,063,450 5.9%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 64 83 -22.9%
Lots Sold 49 62 -21.0%
Percent Sold 76.6% 74.7% 2.5%
Total Raised £9,786,500 £11,962,750 -18.2%


North-West

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 1,428 1,275 12.0%
Lots Sold 1,068 958 11.5%
Percent Sold 74.8% 75.1% -0.4%
Total Raised £109,013,851 £94,131,389 15.8%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 1,161 949 22.3%
Lots Sold 860 722 19.1%
Percent Sold 74.1% 76.1% -2.6%
Total Raised £71,002,371 £55,493,368 27.9%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 267 326 -18.1%
Lots Sold 208 236 -11.9%
Percent Sold 77.9% 72.4% 7.6%
Total Raised £38,011,480 £38,638,021 -1.6%


North-West Home Counties

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 340 324 4.9%
Lots Sold 291 261 11.5%
Percent Sold 85.6% 80.6% 6.2%
Total Raised £107,640,201 £92,252,950 16.7%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 264 225 17.3%
Lots Sold 222 179 24.0%
Percent Sold 84.1% 79.6% 5.7%
Total Raised £64,197,201 £48,518,250 32.3%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 76 99 -23.2%
Lots Sold 69 82 -15.9%
Percent Sold 90.8% 82.8% 9.7%
Total Raised £43,443,000 £43,734,700 -0.7%


Northern Ireland

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 183 205 -10.7%
Lots Sold 92 116 -20.7%
Percent Sold 50.3% 56.6% -11.1%
Total Raised £7,104,750 £8,579,400 -17.2%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 166 195 -14.9%
Lots Sold 89 111 -19.8%
Percent Sold 53.6% 56.9% -5.8%
Total Raised £6,911,750 £7,835,400 -11.8%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 17 10 70.0%
Lots Sold 3 5 -40.0%
Percent Sold 17.6% 50% -64.8%
Total Raised £193,000 £744,000 -74.1%


Scotland

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 163 199 -18.1%
Lots Sold 98 99 -1.0%
Percent Sold 60.1% 49.7% 20.9%
Total Raised £11,133,950 £13,527,400 -17.7%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 113 139 -18.7%
Lots Sold 60 61 -1.6%
Percent Sold 53.1% 43.9% 21.0%
Total Raised £3,410,350 £3,847,800 -11.4%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 50 60 -16.7%
Lots Sold 38 38 0.0%
Percent Sold 76% 63.3% 20.1%
Total Raised £7,723,600 £9,679,600 -20.2%


South-East Home Counties

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 1,046 915 14.3%
Lots Sold 861 741 16.2%
Percent Sold 82.3% 81% 1.6%
Total Raised £243,326,261 £165,520,568 47.0%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 873 689 26.7%
Lots Sold 709 557 27.3%
Percent Sold 81.2% 80.8% 0.5%
Total Raised £153,806,601 £106,892,968 43.9%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 173 226 -23.5%
Lots Sold 152 184 -17.4%
Percent Sold 87.9% 81.4% 8.0%
Total Raised £89,519,660 £58,627,600 52.7%


South-West

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 444 412 7.8%
Lots Sold 349 309 12.9%
Percent Sold 78.6% 75% 4.8%
Total Raised £71,730,035 £58,607,600 22.4%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 351 316 11.1%
Lots Sold 274 228 20.2%
Percent Sold 78.1% 72.2% 8.2%
Total Raised £51,162,025 £36,281,850 41.0%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 93 96 -3.1%
Lots Sold 75 81 -7.4%
Percent Sold 80.6% 84.4% -4.5%
Total Raised £20,568,010 £22,325,750 -7.9%


Wales

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 423 462 -8.4%
Lots Sold 333 352 -5.4%
Percent Sold 78.7% 76.2% 3.3%
Total Raised £23,804,537 £34,554,000 -31.1%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 345 325 6.2%
Lots Sold 271 247 9.7%
Percent Sold 78.6% 76% 3.4%
Total Raised £14,421,344 £18,245,500 -21.0%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 78 137 -43.1%
Lots Sold 62 105 -41.0%
Percent Sold 79.5% 76.6% 3.8%
Total Raised £9,383,193 £16,308,500 -42.5%


West Midlands

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 794 819 -3.1%
Lots Sold 646 659 -2.0%
Percent Sold 81.4% 80.5% 1.1%
Total Raised £98,055,952 £82,649,339 18.6%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 652 660 -1.2%
Lots Sold 532 523 1.7%
Percent Sold 81.6% 79.2% 3.0%
Total Raised £57,206,552 £49,182,950 16.3%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 142 159 -10.7%
Lots Sold 114 136 -16.2%
Percent Sold 80.3% 85.5% -6.1%
Total Raised £40,849,400 £33,466,389 22.1%


Yorkshire and The Humber

Total
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 876 795 10.2%
Lots Sold 678 605 12.1%
Percent Sold 77.4% 76.1% 1.7%
Total Raised £80,659,760 £59,737,475 35.0%


Residential
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 741 620 19.5%
Lots Sold 575 459 25.3%
Percent Sold 77.6% 74% 4.9%
Total Raised £50,498,760 £38,727,125 30.4%


Commercial
December 2015 - February 2016 December 2014 - February 2015 Increase
Lots Offered 135 175 -22.9%
Lots Sold 103 146 -29.5%
Percent Sold 76.3% 83.4% -8.5%
Total Raised £30,161,000 £21,010,350 43.6%


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