Essential Information Group

July 2017 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the July newsletter that looks back at auction activity in June and preceding periods. 126 auctions were held across the UK last month, 18 fewer than in June 2016, yet the market saw very little change in terms of overall performance. The number of lots offered increased by one solitary instruction, to 2,663 lots, whilst there were 14 fewer lots sold - down 0.7% to 1,947 lots. The total amount raised fell 3.7% to £267M, down £10M from June 2016.

The rolling quarterly and yearly figures show small falls in lots offered, lots sold and amount raised, but sale rates remain consistently healthy at around 76% indicating that demand remains high for keenly priced lots.

As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general.
Overall Statistics June 2017
Auctions Held in the UK 126
Total Lots Offered 2,663
Total Lots Sold 1,947
Percent Sold 73.1%
Total Realised £266,830,790

National Auction Analysis

The residential market saw a small increase in lots offered last month, up 1.5% to 2,317 lots, whilst lots sold fell by 0.6% to 1,684 lots. The rolling quarterly figures show minor fluctuations, but overall the sector's recent results have been largely comparable to those recorded last year.

In the commercial market, lots offered and sold fell by 9% and 1.5% respectively last month, whilst the amount raised dropped by £1M to £33M. However, none of the major commercial auctioneers held an auction in June so you can't read too much into these figures, as they will be predominantly made up of commercial lots offered by residential auctioneers.

Having witnessed commercial lot volumes increase throughout the first quarter of 2017, it is slightly surprising to see those trends reversed in the second quarter, with lots offered and sold down 10% on Q2 2016. One contributing factor could have been the furore surrounding the general election; from the unexpected announcement in April through to the extraordinary conclusion of a hung parliament on June 9th. Now the dust has settled one hopes that the market strengthens again through the second half of the year.

Overall

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

June 2017 April 2017 to June 2017 July 2016 to June 2017
Lots Offered 2,663 (2,662) 0.0% 8,122 (8,328) 2.5% 33,586 (33,965) 1.1%
Lots Sold 1,947 (1,961) 0.7% 6,177 (6,244) 1.1% 25,583 (26,215) 2.4%
Percent Sold 73.1% (73.7%) 0.8% 76.1% (75.0%) 1.5% 76.2% (77.2%) 1.3%
Total Raised £267M (£277M) 3.7% £1,050M (£1,086M) 3.3% £4,553M (£4,814M) 5.4%

Residential

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

June 2017 April 2017 to June 2017 July 2016 to June 2017
Lots Offered 2,317 (2,282) 1.5% 6,806 (6,858) 0.8% 27,775 (28,096) 1.1%
Lots Sold 1,684 (1,694) 0.6% 5,172 (5,129) 0.8% 21,011 (21,584) 2.7%
Percent Sold 72.7% (74.2%) 2.0% 76.0% (74.8%) 1.6% 75.6% (76.8%) 1.6%
Total Raised £234M (£243M) 3.8% £779M (£786M) 0.9% £3,176M (£3,368M) 5.7%

Commercial

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

June 2017 April 2017 to June 2017 July 2016 to June 2017
Lots Offered 346 (380) 8.9% 1,316 (1,470) 10.5% 5,811 (5,869) 1.0%
Lots Sold 263 (267) 1.5% 1,005 (1,115) 9.9% 4,572 (4,631) 1.3%
Percent Sold 76.0% (70.3%) 8.1% 76.4% (75.9%) 0.7% 78.7% (78.9%) 0.3%
Total Raised £33M (£34M) 2.7% £271M (£301M) 9.7% £1,377M (£1,446M) 4.7%

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

April 2017 to June 2017 Total Residential Commercial
Lots Offered 251 (276) 9.1% 199 (195) 2.1% 52 (81) 35.8%
Lots Sold 219 (223) 1.8% 170 (153) 11.1% 49 (70) 30.0%
Percent Sold 87.3% (80.8%) 8.0% 85.4% (78.5%) 8.8% 94.2% (86.4%) 9.0%
Total Raised £38M (£39M) 4.3% £27M (£23M) 17.8% £11M (£16M) 35.1%

East-MidlandsEast Midlands

April 2017 to June 2017 Total Residential Commercial
Lots Offered 671 (624) 7.5% 579 (526) 10.1% 92 (98) 6.1%
Lots Sold 519 (460) 12.8% 449 (380) 18.2% 70 (80) 12.5%
Percent Sold 77.3% (73.7%) 4.9% 77.5% (72.2%) 7.3% 76.1% (81.6%) 6.7%
Total Raised £71M (£65M) 9.0% £53M (£43M) 25.3% £18M (£23M) 21.6%

LondonLondon

April 2017 to June 2017 Total Residential Commercial
Lots Offered 618 (678) 8.8% 567 (643) 11.8% 51 (35) 45.7%
Lots Sold 447 (515) 13.2% 405 (489) 17.2% 42 (26) 61.5%
Percent Sold 72.3% (76.0%) 4.9% 71.4% (76.0%) 6.1% 82.4% (74.3%) 10.9%
Total Raised £206M (£217M) 5.3% £173M (£198M) 12.6% £32M (£19M) 71.7%

North-EastNorth-East

April 2017 to June 2017 Total Residential Commercial
Lots Offered 761 (874) 12.9% 708 (811) 12.7% 53 (63) 15.9%
Lots Sold 597 (645) 7.4% 555 (606) 8.4% 42 (39) 7.7%
Percent Sold 78.4% (73.8%) 6.2% 78.4% (74.7%) 5.0% 79.2% (61.9%) 27.9%
Total Raised £50M (£53M) 5.5% £40M (£45M) 10.6% £10M (£8M) 23.5%

North-WestNorth-West

April 2017 to June 2017 Total Residential Commercial
Lots Offered 1,152 (1,249) 7.8% 928 (991) 6.4% 224 (258) 13.2%
Lots Sold 900 (953) 5.6% 732 (754) 2.9% 168 (199) 15.6%
Percent Sold 78.1% (76.3%) 2.4% 78.9% (76.1%) 3.7% 75.0% (77.1%) 2.7%
Total Raised £105M (£107M) 1.5% £68M (£65M) 4.0% £38M (£42M) 10.0%

North-West-Home-CountiesNorth-West Home Counties

April 2017 to June 2017 Total Residential Commercial
Lots Offered 373 (319) 16.9% 322 (258) 24.8% 51 (61) 16.4%
Lots Sold 289 (265) 9.1% 249 (216) 15.3% 40 (49) 18.4%
Percent Sold 77.5% (83.1%) 6.7% 77.3% (83.7%) 7.6% 78.4% (80.3%) 2.4%
Total Raised £69M (£81M) 14.7% £51M (£57M) 9.9% £18M (£24M) 26.0%

Northern-IrelandNorthern Ireland

April 2017 to June 2017 Total Residential Commercial
Lots Offered 290 (262) 10.7% 237 (226) 4.9% 53 (36) 47.2%
Lots Sold 184 (96) 91.7% 148 (79) 87.3% 36 (17) 111.8%
Percent Sold 63.4% (36.6%) 73.2% 62.4% (35.0%) 78.3% 67.9% (47.2%) 43.9%
Total Raised £27M (£7M) 259.4% £20M (£6M) 246.2% £7M (£2M) 303.8%

ScotlandScotland

April 2017 to June 2017 Total Residential Commercial
Lots Offered 212 (206) 2.9% 160 (150) 6.7% 52 (56) 7.1%
Lots Sold 122 (122) 0.0% 85 (83) 2.4% 37 (39) 5.1%
Percent Sold 57.5% (59.2%) 2.9% 53.1% (55.3%) 4.0% 71.2% (69.6%) 2.3%
Total Raised £13M (£10M) 32.1% £5M (£5M) 1.6% £8M (£5M) 64.8%

South-East-Home-CountiesSouth-East Home Counties

April 2017 to June 2017 Total Residential Commercial
Lots Offered 944 (930) 1.5% 785 (747) 5.1% 159 (183) 13.1%
Lots Sold 741 (741) 0.0% 612 (594) 3.0% 129 (147) 12.2%
Percent Sold 78.5% (79.7%) 1.5% 78.0% (79.5%) 1.9% 81.1% (80.3%) 1.0%
Total Raised £172M (£203M) 15.3% £128M (£135M) 5.5% £44M (£68M) 34.8%

South-WestSouth-West

April 2017 to June 2017 Total Residential Commercial
Lots Offered 576 (636) 9.4% 430 (482) 10.8% 146 (154) 5.2%
Lots Sold 425 (502) 15.3% 314 (379) 17.2% 111 (123) 9.8%
Percent Sold 73.8% (78.9%) 6.5% 73.0% (78.6%) 7.1% 76.0% (79.9%) 4.9%
Total Raised £87M (£102M) 15.0% £60M (£72M) 16.7% £27M (£30M) 11.0%

WalesWales

April 2017 to June 2017 Total Residential Commercial
Lots Offered 560 (574) 2.4% 451 (425) 6.1% 109 (149) 26.8%
Lots Sold 412 (413) 0.2% 336 (310) 8.4% 76 (103) 26.2%
Percent Sold 73.6% (72.0%) 2.2% 74.5% (72.9%) 2.2% 69.7% (69.1%) 0.9%
Total Raised £41M (£40M) 0.5% £29M (£27M) 6.8% £12M (£13M) 12.2%

West-MidlandsWest Midlands

April 2017 to June 2017 Total Residential Commercial
Lots Offered 965 (875) 10.3% 802 (705) 13.8% 163 (170) 4.1%
Lots Sold 733 (702) 4.4% 614 (571) 7.5% 119 (131) 9.2%
Percent Sold 76.0% (80.2%) 5.2% 76.6% (81.0%) 5.4% 73.0% (77.1%) 5.3%
Total Raised £97M (£94M) 2.7% £74M (£63M) 18.3% £23M (£32M) 28.1%

Yorkshire-and-The-HumberYorkshire and The Humber

April 2017 to June 2017 Total Residential Commercial
Lots Offered 749 (825) 9.2% 638 (699) 8.7% 111 (126) 11.9%
Lots Sold 589 (607) 3.0% 503 (515) 2.3% 86 (92) 6.5%
Percent Sold 78.6% (73.6%) 6.8% 78.8% (73.7%) 6.9% 77.5% (73.0%) 6.2%
Total Raised £75M (£66M) 13.4% £51M (£47M) 6.9% £25M (£19M) 29.7%

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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