Essential Information Group

August 2017 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the August newsletter that looks back at auction activity in July and preceding periods. There were 144 auctions held across the UK last month - 24 fewer than last year, yet the numbers below indicate a steady if not positive marketplace.

Notwithstanding the small drop in lots offered - down 3% to 3,650, there were gains made in lots sold and total raised (up 0.5% and 7.3% respectively) whilst the sale rate jumped 3 percentage points to 75.7%. The rolling quarterly figures paint a similar picture, albeit with smaller margins, but the rolling yearly figures show small falls in each metric and reflect the challenging economic and political backdrop over the past 12-18 months.

I do hope that you are enjoying the 'Summer' period. As ever I would welcome any feedback you may have regarding the newsletter or the wider market in general.
Overall Statistics July 2017
Auctions Held in the UK 144
Total Lots Offered 3,657
Total Lots Sold 2,774
Percent Sold 75.9%
Total Realised £526,758,443

National Auction Analysis

Figures show a marginal decrease in the number of residential lots offered at auction last month - down 0.8% to 2,949 lots, yet encouragingly sale volumes rose 4% to 2,226 lots and residential revenues totalled £336M, up £10M on July 2016. The rolling quarterly figures also make for positive reading, with gains evident in each of the 4 metrics.

Commercial lots offered and sold were both down last month, by 12.7% and 11.5% respectively. Yet despite these falls the sector saw revenues increase by £26M - up almost 16% to £190M, indicating an increase in higher-value lot-sizes being sold at auction.

Overall

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

July 2017 May 2017 to July 2017 August 2016 to July 2017
Lots Offered 3,657 (3,775) 3.1% 9,487 (9,658) 1.8% 32,764 (33,746) 2.9%
Lots Sold 2,774 (2,749) 0.9% 7,189 (7,161) 0.4% 25,035 (25,799) 3.0%
Percent Sold 75.9% (72.8%) 4.3% 75.8% (74.1%) 2.3% 76.4% (76.5%) 0.1%
Total Raised £527M (£490M) 7.6% £1,344M (£1,336M) 0.6% £4,479M (£4,695M) 4.6%

Residential

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

July 2017 May 2017 to July 2017 August 2016 to July 2017
Lots Offered 2,954 (2,972) 0.6% 7,806 (7,718) 1.1% 27,163 (27,877) 2.6%
Lots Sold 2,234 (2,141) 4.3% 5,891 (5,672) 3.9% 20,619 (21,215) 2.8%
Percent Sold 75.6% (72.0%) 5.0% 75.5% (73.5%) 2.7% 75.9% (76.1%) 0.3%
Total Raised £337M (£326M) 3.4% £911M (£901M) 1.1% £3,111M (£3,309M) 6.0%

Commercial

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

July 2017 May 2017 to July 2017 August 2016 to July 2017
Lots Offered 703 (803) 12.5% 1,681 (1,940) 13.4% 5,601 (5,869) 4.6%
Lots Sold 540 (608) 11.2% 1,298 (1,489) 12.8% 4,416 (4,584) 3.7%
Percent Sold 76.8% (75.7%) 1.5% 77.2% (76.8%) 0.5% 78.8% (78.1%) 0.9%
Total Raised £190M (£164M) 15.8% £433M (£435M) 0.3% £1,369M (£1,387M) 1.3%

Regional Auction Analysis

The figures below show significant contrasts in results and activity across different parts of the UK. Notably, residential sales have increased in the Midlands, Yorkshire / Humber and the North of England, whilst the stats for London are quite the opposite and bear out what London auctioneers are saying about the current state of the market.

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

East-AngliaEast Anglia

May 2017 to July 2017 Total Residential Commercial
Lots Offered 267 (322) 17.1% 200 (227) 11.9% 67 (95) 29.5%
Lots Sold 224 (267) 16.1% 163 (181) 9.9% 61 (86) 29.1%
Percent Sold 83.9% (82.9%) 1.2% 81.5% (79.7%) 2.3% 91.0% (90.5%) 0.6%
Total Raised £44M (£46M) 4.3% £27M (£25M) 6.3% £17M (£21M) 17.2%

East-MidlandsEast Midlands

May 2017 to July 2017 Total Residential Commercial
Lots Offered 742 (685) 8.3% 618 (550) 12.4% 124 (135) 8.1%
Lots Sold 575 (517) 11.2% 482 (409) 17.8% 93 (108) 13.9%
Percent Sold 77.5% (75.5%) 2.6% 78.0% (74.4%) 4.8% 75.0% (80.0%) 6.3%
Total Raised £83M (£75M) 10.8% £54M (£45M) 21.1% £29M (£30M) 4.3%

LondonLondon

May 2017 to July 2017 Total Residential Commercial
Lots Offered 837 (870) 3.8% 748 (807) 7.3% 89 (63) 41.3%
Lots Sold 597 (636) 6.1% 521 (590) 11.7% 76 (46) 65.2%
Percent Sold 71.3% (73.1%) 2.5% 69.7% (73.1%) 4.7% 85.4% (73.0%) 17.0%
Total Raised £283M (£278M) 1.7% £216M (£249M) 13.2% £67M (£30M) 125.9%

North-EastNorth-East

May 2017 to July 2017 Total Residential Commercial
Lots Offered 786 (858) 8.4% 717 (777) 7.7% 69 (81) 14.8%
Lots Sold 623 (612) 1.8% 567 (552) 2.7% 56 (60) 6.7%
Percent Sold 79.3% (71.3%) 11.2% 79.1% (71.0%) 11.4% 81.2% (74.1%) 9.6%
Total Raised £54M (£51M) 5.6% £41M (£39M) 3.6% £14M (£12M) 12.2%

North-WestNorth-West

May 2017 to July 2017 Total Residential Commercial
Lots Offered 1,453 (1,485) 2.2% 1,201 (1,167) 2.9% 252 (318) 20.8%
Lots Sold 1,116 (1,073) 4.0% 932 (829) 12.4% 184 (244) 24.6%
Percent Sold 76.8% (72.3%) 6.2% 77.6% (71.0%) 9.3% 73.0% (76.7%) 4.8%
Total Raised £133M (£137M) 2.5% £87M (£70M) 23.7% £47M (£67M) 30.1%

North-West-Home-CountiesNorth-West Home Counties

May 2017 to July 2017 Total Residential Commercial
Lots Offered 459 (419) 9.5% 349 (332) 5.1% 110 (87) 26.4%
Lots Sold 362 (330) 9.7% 275 (269) 2.2% 87 (61) 42.6%
Percent Sold 78.9% (78.8%) 0.1% 78.8% (81.0%) 2.7% 79.1% (70.1%) 12.8%
Total Raised £123M (£101M) 22.1% £70M (£71M) 1.8% £54M (£30M) 78.8%

Northern-IrelandNorthern Ireland

May 2017 to July 2017 Total Residential Commercial
Lots Offered 233 (289) 19.4% 192 (242) 20.7% 41 (47) 12.8%
Lots Sold 119 (120) 0.8% 92 (94) 2.1% 27 (26) 3.8%
Percent Sold 51.1% (41.5%) 23.1% 47.9% (38.8%) 23.5% 65.9% (55.3%) 19.2%
Total Raised £15M (£9M) 67.8% £10M (£6M) 49.2% £6M (£3M) 113.0%

ScotlandScotland

May 2017 to July 2017 Total Residential Commercial
Lots Offered 234 (287) 18.5% 160 (211) 24.2% 74 (76) 2.6%
Lots Sold 146 (169) 13.6% 90 (117) 23.1% 56 (52) 7.7%
Percent Sold 62.4% (58.9%) 5.9% 56.3% (55.5%) 1.4% 75.7% (68.4%) 10.7%
Total Raised £18M (£14M) 31.0% £5M (£7M) 30.4% £13M (£6M) 99.1%

South-East-Home-CountiesSouth-East Home Counties

May 2017 to July 2017 Total Residential Commercial
Lots Offered 1,255 (1,190) 5.5% 1,007 (924) 9.0% 248 (266) 6.8%
Lots Sold 979 (926) 5.7% 772 (716) 7.8% 207 (210) 1.4%
Percent Sold 78.0% (77.8%) 0.3% 76.7% (77.5%) 1.0% 83.5% (78.9%) 5.8%
Total Raised £236M (£264M) 10.5% £164M (£167M) 1.8% £72M (£96M) 25.5%

South-WestSouth-West

May 2017 to July 2017 Total Residential Commercial
Lots Offered 597 (710) 15.9% 422 (493) 14.4% 175 (217) 19.4%
Lots Sold 445 (553) 19.5% 302 (376) 19.7% 143 (177) 19.2%
Percent Sold 74.5% (77.9%) 4.4% 71.6% (76.3%) 6.2% 81.7% (81.6%) 0.1%
Total Raised £98M (£108M) 9.8% £59M (£69M) 14.2% £39M (£40M) 2.2%

WalesWales

May 2017 to July 2017 Total Residential Commercial
Lots Offered 595 (632) 5.9% 463 (471) 1.7% 132 (161) 18.0%
Lots Sold 433 (470) 7.9% 347 (350) 0.9% 86 (120) 28.3%
Percent Sold 72.8% (74.4%) 2.2% 74.9% (74.3%) 0.8% 65.2% (74.5%) 12.5%
Total Raised £47M (£48M) 2.4% £31M (£27M) 12.2% £16M (£21M) 21.6%

West-MidlandsWest Midlands

May 2017 to July 2017 Total Residential Commercial
Lots Offered 1,096 (1,051) 4.3% 925 (830) 11.4% 171 (221) 22.6%
Lots Sold 850 (830) 2.4% 722 (665) 8.6% 128 (165) 22.4%
Percent Sold 77.6% (79.0%) 1.8% 78.1% (80.1%) 2.5% 74.9% (74.7%) 0.3%
Total Raised £116M (£124M) 6.3% £87M (£79M) 10.1% £29M (£45M) 35.2%

Yorkshire-and-The-HumberYorkshire and The Humber

May 2017 to July 2017 Total Residential Commercial
Lots Offered 933 (860) 8.5% 804 (687) 17.0% 129 (173) 25.4%
Lots Sold 720 (658) 9.4% 626 (524) 19.5% 94 (134) 29.9%
Percent Sold 77.2% (76.5%) 0.9% 77.9% (76.3%) 2.1% 72.9% (77.5%) 5.9%
Total Raised £92M (£80M) 15.2% £61M (£46M) 32.8% £31M (£34M) 8.5%

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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