Essential Information Group

November 2016 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to November's newsletter that looks back at property auction activity in October and preceding periods. 150 auctions were held across the UK last month, 12 fewer than in October 2015, so it is perhaps unsurprising to see a fall in both lots offered (down 4.1%) and lots sold (down 3.3%) when compared with last year. The total amount raised saw a more substantial drop, down 14.3% £518M to £444M.

I would like to take this opportunity to announce that Essential Information Group were proud winners at this year's Negotiator Awards, taking gold in the "Supplier of the Year: Technology" category. We have been providing services and technical solutions to the property auction industry for over 26 years, and winning this award is testament to the hard work and dedication put in by every member of the team who all strive to deliver a first-class service which I do hope you enjoy and benefit from.

As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general.
Overall Statistics October 2016
Auctions Held in the UK 150
Total Lots Offered 3,133
Total Lots Sold 2,327
Percent Sold 74.3%
Total Realised £443,558,195

National Auction Analysis

In the residential sector lots offered fell by 6.7% last month, from 2,465 to 2,300 lots, whilst lots sold fell 6.2% from 1,790 to 1,679 lots. Conversely, commercial lots offered rose 4%, from 801 lots to 833 lots, and lots sold increased by 5.2% from 616 to 648 lots. The amount raised fell in both sectors, by 21% in residential and a more modest 5.5% in commercial.

Whilst the red 'down' arrows are still in the majority across the three tables shown below, 15 out of the 36 metrics measured do show a gain on their respective period last year which is an improvement on the 7 we reported on in October's newsletter.

Overall

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

October 2016 August 2016 to October 2016 November 2015 to October 2016
Lots Offered 3,133 (3,266) 4.1% 7,873 (7,977) 1.3% 33,652 (32,968) 2.1%
Lots Sold 2,327 (2,406) 3.3% 5,749 (5,863) 1.9% 25,537 (25,147) 1.6%
Percent Sold 74.3% (73.7%) 0.8% 73.0% (73.5%) 0.7% 75.9% (76.3%) 0.5%
Total Raised £444M (£518M) 14.3% £914M (£998M) 8.5% £4,557M (£4,238M) 7.5%

Residential

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

October 2016 August 2016 to October 2016 November 2015 to October 2016
Lots Offered 2,300 (2,465) 6.7% 6,454 (6,573) 1.8% 27,754 (26,530) 4.6%
Lots Sold 1,679 (1,790) 6.2% 4,686 (4,824) 2.9% 20,943 (20,107) 4.2%
Percent Sold 73.0% (72.6%) 0.6% 72.6% (73.4%) 1.1% 75.5% (75.8%) 0.4%
Total Raised £233M (£295M) 20.9% £647M (£723M) 10.5% £3,204M (£2,972M) 7.8%

Commercial

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

October 2016 August 2016 to October 2016 November 2015 to October 2016
Lots Offered 833 (801) 4.0% 1,419 (1,404) 1.1% 5,898 (6,438) 8.4%
Lots Sold 648 (616) 5.2% 1,063 (1,039) 2.3% 4,594 (5,040) 8.8%
Percent Sold 77.8% (76.9%) 1.2% 74.9% (74.0%) 1.2% 77.9% (78.3%) 0.5%
Total Raised £210M (£222M) 5.5% £266M (£275M) 3.2% £1,352M (£1,266M) 6.8%

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

August 2016 to October 2016 Total Residential Commercial
Lots Offered 202 (193) 4.7% 131 (142) 7.7% 71 (51) 39.2%
Lots Sold 161 (142) 13.4% 103 (103) 0.0% 58 (39) 48.7%
Percent Sold 79.7% (73.6%) 8.3% 78.6% (72.5%) 8.4% 81.7% (76.5%) 6.8%
Total Raised £28M (£27M) 4.0% £15M (£14M) 0.9% £14M (£13M) 7.3%

East-MidlandsEast Midlands

August 2016 to October 2016 Total Residential Commercial
Lots Offered 697 (677) 3.0% 597 (559) 6.8% 100 (118) 15.3%
Lots Sold 545 (497) 9.7% 467 (400) 16.8% 78 (97) 19.6%
Percent Sold 78.2% (73.4%) 6.5% 78.2% (71.6%) 9.2% 78.0% (82.2%) 5.1%
Total Raised £65M (£62M) 4.9% £49M (£42M) 16.8% £15M (£19M) 21.0%

LondonLondon

August 2016 to October 2016 Total Residential Commercial
Lots Offered 473 (565) 16.3% 433 (512) 15.4% 40 (53) 24.5%
Lots Sold 342 (430) 20.5% 309 (381) 18.9% 33 (49) 32.7%
Percent Sold 72.3% (76.1%) 5.0% 71.4% (74.4%) 4.0% 82.5% (92.5%) 10.8%
Total Raised £150M (£194M) 22.6% £128M (£170M) 24.5% £22M (£24M) 9.1%

North-EastNorth-East

August 2016 to October 2016 Total Residential Commercial
Lots Offered 793 (714) 11.1% 724 (659) 9.9% 69 (55) 25.5%
Lots Sold 563 (478) 17.8% 516 (447) 15.4% 47 (31) 51.6%
Percent Sold 71.0% (66.9%) 6.1% 71.3% (67.8%) 5.2% 68.1% (56.4%) 20.7%
Total Raised £45M (£39M) 13.8% £38M (£33M) 12.4% £7M (£6M) 21.3%

North-WestNorth-West

August 2016 to October 2016 Total Residential Commercial
Lots Offered 1,246 (1,372) 9.2% 1,020 (1,112) 8.3% 226 (260) 13.1%
Lots Sold 900 (987) 8.8% 735 (805) 8.7% 165 (182) 9.3%
Percent Sold 72.2% (71.9%) 0.4% 72.1% (72.4%) 0.4% 73.0% (70.0%) 4.3%
Total Raised £91M (£93M) 1.9% £60M (£72M) 15.6% £31M (£21M) 44.1%

North-West-Home-CountiesNorth-West Home Counties

August 2016 to October 2016 Total Residential Commercial
Lots Offered 354 (301) 17.6% 264 (231) 14.3% 90 (70) 28.6%
Lots Sold 297 (246) 20.7% 219 (188) 16.5% 78 (58) 34.5%
Percent Sold 83.9% (81.7%) 2.7% 83.0% (81.4%) 2.0% 86.7% (82.9%) 4.6%
Total Raised £83M (£88M) 6.3% £51M (£59M) 13.0% £32M (£30M) 7.1%

Northern-IrelandNorthern Ireland

August 2016 to October 2016 Total Residential Commercial
Lots Offered 199 (190) 4.7% 180 (176) 2.3% 19 (14) 35.7%
Lots Sold 80 (81) 1.2% 74 (78) 5.1% 6 (3) 100.0%
Percent Sold 40.2% (42.6%) 5.6% 41.1% (44.3%) 7.2% 31.6% (21.4%) 47.7%
Total Raised £6M (£6M) 11.9% £6M (£5M) 4.3% £1M (£0M) 220.0%

ScotlandScotland

August 2016 to October 2016 Total Residential Commercial
Lots Offered 266 (251) 6.0% 225 (186) 21.0% 41 (65) 36.9%
Lots Sold 137 (168) 18.5% 108 (121) 10.7% 29 (47) 38.3%
Percent Sold 51.5% (66.9%) 23.0% 48.0% (65.1%) 26.3% 70.7% (72.3%) 2.2%
Total Raised £13M (£27M) 50.5% £6M (£14M) 53.7% £7M (£13M) 47.2%

South-East-Home-CountiesSouth-East Home Counties

August 2016 to October 2016 Total Residential Commercial
Lots Offered 831 (783) 6.1% 657 (634) 3.6% 174 (149) 16.8%
Lots Sold 646 (638) 1.3% 511 (523) 2.3% 135 (115) 17.4%
Percent Sold 77.7% (81.5%) 4.7% 77.8% (82.5%) 5.7% 77.6% (77.2%) 0.5%
Total Raised £155M (£171M) 9.3% £109M (£124M) 12.3% £46M (£47M) 1.5%

South-WestSouth-West

August 2016 to October 2016 Total Residential Commercial
Lots Offered 555 (545) 1.8% 368 (387) 4.9% 187 (158) 18.4%
Lots Sold 409 (400) 2.3% 266 (283) 6.0% 143 (117) 22.2%
Percent Sold 73.7% (73.4%) 0.4% 72.3% (73.1%) 1.1% 76.5% (74.1%) 3.2%
Total Raised £78M (£86M) 10.1% £49M (£56M) 12.5% £28M (£30M) 5.5%

WalesWales

August 2016 to October 2016 Total Residential Commercial
Lots Offered 585 (648) 9.7% 456 (518) 12.0% 129 (130) 0.8%
Lots Sold 424 (471) 10.0% 329 (383) 14.1% 95 (88) 8.0%
Percent Sold 72.5% (72.7%) 0.3% 72.1% (73.9%) 2.4% 73.6% (67.7%) 8.7%
Total Raised £40M (£41M) 4.1% £28M (£30M) 4.3% £11M (£12M) 3.5%

West-MidlandsWest Midlands

August 2016 to October 2016 Total Residential Commercial
Lots Offered 868 (938) 7.5% 728 (771) 5.6% 140 (167) 16.2%
Lots Sold 655 (723) 9.4% 554 (593) 6.6% 101 (130) 22.3%
Percent Sold 75.5% (77.1%) 2.1% 76.1% (76.9%) 1.0% 72.1% (77.8%) 7.3%
Total Raised £89M (£99M) 10.4% £61M (£61M) 0.2% £27M (£38M) 27.6%

Yorkshire-and-The-HumberYorkshire and The Humber

August 2016 to October 2016 Total Residential Commercial
Lots Offered 804 (800) 0.5% 671 (686) 2.2% 133 (114) 16.7%
Lots Sold 590 (602) 2.0% 495 (519) 4.6% 95 (83) 14.5%
Percent Sold 73.4% (75.3%) 2.5% 73.8% (75.7%) 2.5% 71.4% (72.8%) 1.9%
Total Raised £71M (£64M) 10.0% £46M (£42M) 8.9% £25M (£22M) 12.2%

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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