Essential Information Group

February 2017 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the February newsletter that looks back at auction activity in January and preceding periods. As is usually the case at the turn of the year, January was a very quiet month with only 408 lots offered in 15 auctions held across the UK.

Whilst this was down 17% on last year, one cannot draw any meaningful conclusions due to the smaller-than-average sample set. Instead it will be all eyes on next month's publication to see if the industry can pick up where it left off in December when auction records were sent tumbling.

In the meantime I would, as ever, welcome any feedback or questions you may have about our newsletters or the wider market in general.
Overall Statistics January 2017
Auctions Held in the UK 15
Total Lots Offered 408
Total Lots Sold 315
Percent Sold 77.2%
Total Realised £31,006,177

National Auction Analysis

Only 15 out of the 408 lots offered last month were commercial lots (12 sold raising £1m), and none of these were offered by any of the London commercial auctioneers. The rolling quarterly and rolling yearly statistics show commercial sales were down 7.3% and 8.6% respectively, however the amount raised grew by 9% in both periods indicating that larger lot sizes have been on the rise.

Of the 393 residential lots that went under the hammer, 303 lots sold (77%) with a total value of £30m. The rolling quarterly and yearly figures remain largely positive, with lots offered up 4% in both periods and small increases in lots sold.

Overall

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

January 2017 November 2016 to January 2017 February 2016 to January 2017
Lots Offered 408 (492) 17.1% 6,376 (6,236) 2.2% 33,793 (33,228) 1.7%
Lots Sold 315 (354) 11.0% 4,807 (4,850) 0.9% 25,795 (25,957) 0.6%
Percent Sold 77.2% (72.0%) 7.2% 75.4% (77.8%) 3.1% 76.3% (78.1%) 2.3%
Total Raised £31M (£33M) 6.3% £858M (£846M) 1.4% £4,689M (£4,511M) 3.9%

Residential

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

January 2017 November 2016 to January 2017 February 2016 to January 2017
Lots Offered 393 (473) 16.9% 5,439 (5,238) 3.8% 27,940 (26,878) 4.0%
Lots Sold 303 (343) 11.7% 4,068 (4,054) 0.3% 21,158 (20,886) 1.3%
Percent Sold 77.1% (72.5%) 6.3% 74.8% (77.4%) 3.4% 75.7% (77.7%) 2.6%
Total Raised £30M (£32M) 6.3% £618M (£626M) 1.3% £3,238M (£3,181M) 1.8%

Commercial

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

January 2017 November 2016 to January 2017 February 2016 to January 2017
Lots Offered 15 (19) 21.1% 937 (998) 6.1% 5,853 (6,350) 7.8%
Lots Sold 12 (11) 9.1% 739 (796) 7.2% 4,637 (5,071) 8.6%
Percent Sold 80.0% (57.9%) 38.2% 78.9% (79.8%) 1.1% 79.2% (79.9%) 0.9%
Total Raised £1M (£1M) 6.0% £240M (£220M) 9.4% £1,450M (£1,330M) 9.0%

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

November 2016 to January 2017 Total Residential Commercial
Lots Offered 201 (177) 13.6% 161 (128) 25.8% 40 (49) 18.4%
Lots Sold 152 (145) 4.8% 120 (105) 14.3% 32 (40) 20.0%
Percent Sold 75.6% (81.9%) 7.7% 74.5% (82.0%) 9.1% 80.0% (81.6%) 2.0%
Total Raised £29M (£23M) 27.2% £18M (£14M) 28.6% £10M (£8M) 24.8%

East-MidlandsEast Midlands

November 2016 to January 2017 Total Residential Commercial
Lots Offered 477 (540) 11.7% 413 (460) 10.2% 64 (80) 20.0%
Lots Sold 349 (421) 17.1% 296 (359) 17.5% 53 (62) 14.5%
Percent Sold 73.2% (78.0%) 6.2% 71.7% (78.0%) 8.1% 82.8% (77.5%) 6.8%
Total Raised £48M (£64M) 24.8% £32M (£45M) 28.2% £16M (£19M) 16.9%

LondonLondon

November 2016 to January 2017 Total Residential Commercial
Lots Offered 627 (582) 7.7% 590 (527) 12.0% 37 (55) 32.7%
Lots Sold 441 (474) 7.0% 411 (423) 2.8% 30 (51) 41.2%
Percent Sold 70.3% (81.4%) 13.6% 69.7% (80.3%) 13.2% 81.1% (92.7%) 12.5%
Total Raised £216M (£218M) 1.3% £178M (£192M) 6.8% £37M (£27M) 38.8%

North-EastNorth-East

November 2016 to January 2017 Total Residential Commercial
Lots Offered 638 (721) 11.5% 595 (678) 12.2% 43 (43) 0.0%
Lots Sold 474 (551) 14.0% 444 (519) 14.5% 30 (32) 6.3%
Percent Sold 74.3% (76.4%) 2.7% 74.6% (76.5%) 2.5% 69.8% (74.4%) 6.2%
Total Raised £38M (£41M) 7.4% £31M (£37M) 15.6% £7M (£4M) 63.6%

North-WestNorth-West

November 2016 to January 2017 Total Residential Commercial
Lots Offered 983 (883) 11.3% 823 (737) 11.7% 160 (146) 9.6%
Lots Sold 744 (658) 13.1% 622 (544) 14.3% 122 (114) 7.0%
Percent Sold 75.7% (74.5%) 1.6% 75.6% (73.8%) 2.4% 76.3% (78.1%) 2.3%
Total Raised £79M (£70M) 13.5% £53M (£48M) 10.5% £26M (£22M) 20.1%

North-West-Home-CountiesNorth-West Home Counties

November 2016 to January 2017 Total Residential Commercial
Lots Offered 265 (189) 40.2% 217 (148) 46.6% 48 (41) 17.1%
Lots Sold 219 (159) 37.7% 175 (123) 42.3% 44 (36) 22.2%
Percent Sold 82.6% (84.1%) 1.8% 80.6% (83.1%) 3.0% 91.7% (87.8%) 4.4%
Total Raised £74M (£48M) 52.5% £51M (£33M) 53.8% £23M (£15M) 49.9%

Northern-IrelandNorthern Ireland

November 2016 to January 2017 Total Residential Commercial
Lots Offered 195 (225) 13.3% 153 (168) 8.9% 42 (57) 26.3%
Lots Sold 130 (157) 17.2% 95 (112) 15.2% 35 (45) 22.2%
Percent Sold 66.7% (69.8%) 4.4% 62.1% (66.7%) 6.9% 83.3% (78.9%) 5.6%
Total Raised £10M (£14M) 27.8% £7M (£10M) 33.7% £4M (£4M) 13.0%

ScotlandScotland

November 2016 to January 2017 Total Residential Commercial
Lots Offered 212 (219) 3.2% 146 (172) 15.1% 66 (47) 40.4%
Lots Sold 138 (140) 1.4% 84 (103) 18.4% 54 (37) 45.9%
Percent Sold 65.1% (63.9%) 1.9% 57.5% (59.9%) 4.0% 81.8% (78.7%) 3.9%
Total Raised £15M (£13M) 14.7% £5M (£7M) 30.1% £10M (£6M) 63.1%

South-East-Home-CountiesSouth-East Home Counties

November 2016 to January 2017 Total Residential Commercial
Lots Offered 697 (775) 10.1% 568 (646) 12.1% 129 (129) 0.0%
Lots Sold 539 (638) 15.5% 437 (525) 16.8% 102 (113) 9.7%
Percent Sold 77.3% (82.3%) 6.1% 76.9% (81.3%) 5.4% 79.1% (87.6%) 9.7%
Total Raised £140M (£165M) 15.1% £88M (£104M) 15.6% £52M (£60M) 14.3%

South-WestSouth-West

November 2016 to January 2017 Total Residential Commercial
Lots Offered 396 (417) 5.0% 307 (309) 0.6% 89 (108) 17.6%
Lots Sold 304 (309) 1.6% 240 (232) 3.4% 64 (77) 16.9%
Percent Sold 76.8% (74.1%) 3.6% 78.2% (75.1%) 4.1% 71.9% (71.3%) 0.8%
Total Raised £60M (£58M) 2.4% £46M (£42M) 9.5% £14M (£17M) 15.0%

WalesWales

November 2016 to January 2017 Total Residential Commercial
Lots Offered 311 (341) 8.8% 261 (266) 1.9% 50 (75) 33.3%
Lots Sold 234 (273) 14.3% 200 (209) 4.3% 34 (64) 46.9%
Percent Sold 75.2% (80.1%) 6.1% 76.6% (78.6%) 2.5% 68.0% (85.3%) 20.3%
Total Raised £21M (£20M) 8.9% £14M (£13M) 11.9% £7M (£7M) 3.2%

West-MidlandsWest Midlands

November 2016 to January 2017 Total Residential Commercial
Lots Offered 731 (594) 23.1% 634 (501) 26.5% 97 (93) 4.3%
Lots Sold 579 (485) 19.4% 502 (413) 21.5% 77 (72) 6.9%
Percent Sold 79.2% (81.6%) 2.9% 79.2% (82.4%) 3.9% 79.4% (77.4%) 2.6%
Total Raised £75M (£65M) 15.1% £56M (£47M) 18.8% £19M (£18M) 5.5%

Yorkshire-and-The-HumberYorkshire and The Humber

November 2016 to January 2017 Total Residential Commercial
Lots Offered 643 (573) 12.2% 571 (498) 14.7% 72 (75) 4.0%
Lots Sold 504 (440) 14.5% 442 (387) 14.2% 62 (53) 17.0%
Percent Sold 78.4% (76.8%) 2.1% 77.4% (77.7%) 0.4% 86.1% (70.7%) 21.8%
Total Raised £53M (£46M) 14.8% £39M (£35M) 10.7% £14M (£11M) 27.6%

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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