Essential Information Group

October 2016 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the October newsletter that looks back at auction activity in September and preceding periods. For whatever reason, the auction market continues to gently contract and this is evidenced by the red 'down' arrows that dominate the comparative figures shown below.

Lots offered and lots sold both fell by 6% and 8.5% respectively last month, whilst the overall amount raised fell by £36M (down 8.4%). When coupled with the falls witnessed in July, it is unsurprising to see that Q3 figures are also down on last year, with sales falling by 6% to 6,145 lots from 6,559 in Q3 15 and revenues down over 11% to £956M from £1.079bn.

It should be noted, however, that these falls are still dwarfed by the drops we saw back in 2008 and 2009, when double-digit decreases were evident almost every month. As ever I would welcome any feedback you have regarding the newsletter, or indeed the market in general.
Overall Statistics September 2016
Auctions Held in the UK 181
Total Lots Offered 3,647
Total Lots Sold 2,626
Percent Sold 72%
Total Realised £390,373,625

National Auction Analysis

Both sectors experienced falls in lots offered last month, with residential instructions dropping by 5.5% from 3,345 lots to 3,160 lots and commercial instructions dropping by 8.1% from 530 lots to 487 lots. Whilst falling by around 10% in September and Q3, the residential amount raised remains up over 8% for the rolling year (Oct 15 - Sep 16), and up 7.7% for the same period in the commercial market.

Total

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

September 2016 July 2016 to September 2016 October 2015 to September 2016
Lots Offered 3,647 (3,875) 5.9% 8,471 (8,722) 2.9% 33,737 (33,685) 0.2%
Lots Sold 2,626 (2,871) 8.5% 6,145 (6,559) 6.3% 25,636 (25,706) 0.3%
Percent Sold 72.0% (74.1%) 2.8% 72.5% (75.2%) 3.6% 76.0% (76.3%) 0.4%
Total Raised £390M (£426M) 8.4% £956M (£1,079M) 11.4% £4,656M (£4,313M) 8.0%

Residential

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

September 2016 July 2016 to September 2016 October 2015 to September 2016
Lots Offered 3,160 (3,345) 5.5% 7,090 (7,317) 3.1% 27,888 (27,138) 2.8%
Lots Sold 2,289 (2,495) 8.3% 5,127 (5,503) 6.8% 21,069 (20,571) 2.4%
Percent Sold 72.4% (74.6%) 2.9% 72.3% (75.2%) 3.9% 75.5% (75.8%) 0.4%
Total Raised £342M (£378M) 9.5% £736M (£818M) 10.0% £3,271M (£3,027M) 8.1%

Commercial

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

September 2016 July 2016 to September 2016 October 2015 to September 2016
Lots Offered 487 (530) 8.1% 1,381 (1,405) 1.7% 5,849 (6,547) 10.7%
Lots Sold 337 (376) 10.4% 1,018 (1,056) 3.6% 4,567 (5,135) 11.1%
Percent Sold 69.2% (70.9%) 2.4% 73.7% (75.2%) 2.0% 78.1% (78.4%) 0.4%
Total Raised £48M (£48M) 0.2% £220M (£261M) 15.9% £1,385M (£1,286M) 7.7%

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

July 2016 to September 2016 Total Residential Commercial
Lots Offered 211 (249) 15.3% 160 (194) 17.5% 51 (55) 7.3%
Lots Sold 167 (192) 13.0% 125 (144) 13.2% 42 (48) 12.5%
Percent Sold 79.1% (77.1%) 2.6% 78.1% (74.2%) 5.3% 82.4% (87.3%) 5.6%
Total Raised £24M (£29M) 16.6% £17M (£20M) 15.9% £7M (£9M) 18.3%

East-MidlandsEast Midlands

July 2016 to September 2016 Total Residential Commercial
Lots Offered 725 (743) 2.4% 616 (625) 1.4% 109 (118) 7.6%
Lots Sold 559 (547) 2.2% 471 (451) 4.4% 88 (96) 8.3%
Percent Sold 77.1% (73.6%) 4.8% 76.5% (72.2%) 6.0% 80.7% (81.4%) 0.9%
Total Raised £64M (£68M) 5.3% £48M (£49M) 3.2% £16M (£18M) 10.8%

LondonLondon

July 2016 to September 2016 Total Residential Commercial
Lots Offered 621 (698) 11.0% 582 (642) 9.3% 39 (56) 30.4%
Lots Sold 437 (559) 21.8% 408 (509) 19.8% 29 (50) 42.0%
Percent Sold 70.4% (80.1%) 12.1% 70.1% (79.3%) 11.6% 74.4% (89.3%) 16.7%
Total Raised £185M (£228M) 18.6% £169M (£196M) 14.0% £16M (£31M) 47.5%

North-EastNorth-East

July 2016 to September 2016 Total Residential Commercial
Lots Offered 771 (782) 1.4% 712 (730) 2.5% 59 (52) 13.5%
Lots Sold 534 (550) 2.9% 490 (507) 3.4% 44 (43) 2.3%
Percent Sold 69.3% (70.3%) 1.4% 68.8% (69.5%) 1.0% 74.6% (82.7%) 9.8%
Total Raised £41M (£46M) 10.9% £35M (£36M) 3.6% £7M (£11M) 35.8%

North-WestNorth-West

July 2016 to September 2016 Total Residential Commercial
Lots Offered 1,464 (1,435) 2.0% 1,211 (1,182) 2.5% 253 (253) 0.0%
Lots Sold 1,051 (1,061) 0.9% 858 (892) 3.8% 193 (169) 14.2%
Percent Sold 71.8% (73.9%) 2.8% 70.9% (75.5%) 6.1% 76.3% (66.8%) 14.2%
Total Raised £108M (£102M) 5.6% £70M (£75M) 5.9% £38M (£27M) 36.6%

North-West-Home-CountiesNorth-West Home Counties

July 2016 to September 2016 Total Residential Commercial
Lots Offered 374 (316) 18.4% 323 (265) 21.9% 51 (51) 0.0%
Lots Sold 300 (259) 15.8% 268 (224) 19.6% 32 (35) 8.6%
Percent Sold 80.2% (82.0%) 2.2% 83.0% (84.5%) 1.8% 62.7% (68.6%) 8.6%
Total Raised £75M (£83M) 9.1% £63M (£65M) 3.9% £13M (£18M) 28.0%

Northern-IrelandNorthern Ireland

July 2016 to September 2016 Total Residential Commercial
Lots Offered 148 (193) 23.3% 127 (178) 28.7% 21 (15) 40.0%
Lots Sold 76 (81) 6.2% 65 (78) 16.7% 11 (3) 266.7%
Percent Sold 51.4% (42.0%) 22.4% 51.2% (43.8%) 16.9% 52.4% (20.0%) 162.0%
Total Raised £6M (£5M) 4.0% £4M (£5M) 16.1% £1M (£0M) 700.3%

ScotlandScotland

July 2016 to September 2016 Total Residential Commercial
Lots Offered 259 (219) 18.3% 221 (167) 32.3% 38 (52) 26.9%
Lots Sold 129 (147) 12.2% 106 (106) 0.0% 23 (41) 43.9%
Percent Sold 49.8% (67.1%) 25.8% 48.0% (63.5%) 24.4% 60.5% (78.8%) 23.2%
Total Raised £9M (£21M) 59.0% £6M (£13M) 51.4% £2M (£8M) 71.1%

South-East-Home-CountiesSouth-East Home Counties

July 2016 to September 2016 Total Residential Commercial
Lots Offered 885 (988) 10.4% 735 (825) 10.9% 150 (163) 8.0%
Lots Sold 672 (811) 17.1% 567 (683) 17.0% 105 (128) 18.0%
Percent Sold 75.9% (82.1%) 7.6% 77.1% (82.8%) 6.9% 70.0% (78.5%) 10.8%
Total Raised £165M (£192M) 13.8% £125M (£144M) 13.4% £41M (£48M) 15.1%

South-WestSouth-West

July 2016 to September 2016 Total Residential Commercial
Lots Offered 666 (630) 5.7% 468 (494) 5.3% 198 (136) 45.6%
Lots Sold 474 (470) 0.9% 328 (363) 9.6% 146 (107) 36.4%
Percent Sold 71.2% (74.6%) 4.6% 70.1% (73.5%) 4.6% 73.7% (78.7%) 6.4%
Total Raised £79M (£96M) 17.7% £60M (£73M) 18.7% £20M (£23M) 14.3%

WalesWales

July 2016 to September 2016 Total Residential Commercial
Lots Offered 608 (663) 8.3% 487 (501) 2.8% 121 (162) 25.3%
Lots Sold 447 (495) 9.7% 355 (384) 7.6% 92 (111) 17.1%
Percent Sold 73.5% (74.7%) 1.6% 72.9% (76.6%) 4.8% 76.0% (68.5%) 10.9%
Total Raised £41M (£43M) 3.7% £28M (£31M) 10.8% £13M (£12M) 15.5%

West-MidlandsWest Midlands

July 2016 to September 2016 Total Residential Commercial
Lots Offered 954 (995) 4.1% 789 (827) 4.6% 165 (168) 1.8%
Lots Sold 720 (770) 6.5% 605 (646) 6.3% 115 (124) 7.3%
Percent Sold 75.5% (77.4%) 2.5% 76.7% (78.1%) 1.8% 69.7% (73.8%) 5.6%
Total Raised £95M (£93M) 1.3% £72M (£66M) 8.3% £23M (£27M) 15.8%

Yorkshire-and-The-HumberYorkshire and The Humber

July 2016 to September 2016 Total Residential Commercial
Lots Offered 785 (811) 3.2% 659 (687) 4.1% 126 (124) 1.6%
Lots Sold 579 (617) 6.2% 481 (516) 6.8% 98 (101) 3.0%
Percent Sold 73.8% (76.1%) 3.0% 73.0% (75.1%) 2.8% 77.8% (81.5%) 4.5%
Total Raised £64M (£73M) 13.2% £41M (£44M) 6.9% £23M (£29M) 22.6%

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.

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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