Essential Information Group

June 2017 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the June newsletter that looks back at auction activity in May and preceding periods. Whilst the UK wakes up to the unexpected news of a hung parliament and what will surely lead to turbulent times ahead for UK politics, I am pleased to report on a set of auction results that are largely strong and stable!

Remarkably only 1 fewer lot was offered last month when compared with May 2016, but lots sold increased 2% to 2,422 lots and effected a healthy 75.7% sale rate (up 2%). However this month it appears very much a tale of two sectors, with notable differences in the performance of residential and commercial lots - please read on below for more detailed analysis.

As ever I would welcome any comments or feedback you may have regarding the newsletter or indeed the wider market in general.
Overall Statistics May 2017
Auctions Held in the UK 130
Total Lots Offered 3,199
Total Lots Sold 2,422
Percent Sold 75.7%
Total Realised £517,003,228

National Auction Analysis

The residential sector performed amazingly well last month, with lots offered up almost 5% to 2,560 lots and lots sold up almost 10% to 1,945 lots. The amount realised from residential sales totalled £338M, up £27M (8.9%) from the £311M raised in May 2016.

The rolling quarterly figures, which had shown double-digit falls in last month's newsletter, now show only marginal falls in lots offered and sold and positive growth in both the sale rate - up 1.6% to 75%, and the amount raised - up 0.6% to £808M.

Conversely, the commercial sector endured a challenging month, with lots offered and sold falling by 15% and 20% respectively and the amount raised decreasing by 16% to £179M. One hopes that this was merely a blip in what has otherwise been a reasonably steady year to date for commercial auctions.

Overall

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

May 2017 March 2017 to May 2017 June 2016 to May 2017
Lots Offered 3,199 (3,200) 0.0% 8,395 (8,626) 2.7% 33,798 (34,262) 1.4%
Lots Sold 2,422 (2,374) 2.0% 6,294 (6,416) 1.9% 25,538 (26,377) 3.2%
Percent Sold 75.7% (74.2%) 2.0% 75.0% (74.4%) 0.8% 75.6% (77.0%) 1.8%
Total Raised £517M (£525M) 1.5% £1,156M (£1,210M) 4.4% £4,493M (£4,771M) 5.8%

Residential

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

May 2017 March 2017 to May 2017 June 2016 to May 2017
Lots Offered 2,560 (2,445) 4.7% 6,867 (7,033) 2.4% 27,901 (28,265) 1.3%
Lots Sold 1,945 (1,780) 9.3% 5,148 (5,187) 0.8% 20,964 (21,669) 3.3%
Percent Sold 76.0% (72.8%) 4.4% 75.0% (73.8%) 1.6% 75.1% (76.7%) 2.1%
Total Raised £338M (£311M) 8.9% £808M (£803M) 0.6% £3,182M (£3,385M) 6.0%

Commercial

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

May 2017 March 2017 to May 2017 June 2016 to May 2017
Lots Offered 639 (755) 15.4% 1,528 (1,593) 4.1% 5,897 (5,997) 1.7%
Lots Sold 477 (594) 19.7% 1,146 (1,229) 6.8% 4,574 (4,708) 2.8%
Percent Sold 74.6% (78.7%) 5.2% 75.0% (77.2%) 2.8% 77.6% (78.5%) 1.1%
Total Raised £179M (£214M) 16.5% £349M (£407M) 14.4% £1,311M (£1,386M) 5.5%

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

March 2017 to May 2017 Total Residential Commercial
Lots Offered 268 (261) 2.7% 209 (175) 19.4% 59 (86) 31.4%
Lots Sold 225 (201) 11.9% 176 (131) 34.4% 49 (70) 30.0%
Percent Sold 84.0% (77.0%) 9.1% 84.2% (74.9%) 12.4% 83.1% (81.4%) 2.1%
Total Raised £40M (£35M) 14.9% £28M (£18M) 49.6% £13M (£17M) 23.4%

East-MidlandsEast Midlands

March 2017 to May 2017 Total Residential Commercial
Lots Offered 601 (630) 4.6% 500 (510) 2.0% 101 (120) 15.8%
Lots Sold 455 (466) 2.4% 385 (365) 5.5% 70 (101) 30.7%
Percent Sold 75.7% (74.0%) 2.3% 77.0% (71.6%) 7.5% 69.3% (84.2%) 17.7%
Total Raised £70M (£74M) 5.7% £46M (£44M) 5.0% £24M (£31M) 20.7%

LondonLondon

March 2017 to May 2017 Total Residential Commercial
Lots Offered 659 (717) 8.1% 585 (668) 12.4% 74 (49) 51.0%
Lots Sold 485 (554) 12.5% 424 (513) 17.3% 61 (41) 48.8%
Percent Sold 73.6% (77.3%) 4.8% 72.5% (76.8%) 5.6% 82.4% (83.7%) 1.6%
Total Raised £229M (£261M) 12.2% £187M (£223M) 16.0% £42M (£38M) 10.6%

North-EastNorth-East

March 2017 to May 2017 Total Residential Commercial
Lots Offered 770 (896) 14.1% 702 (829) 15.3% 68 (67) 1.5%
Lots Sold 579 (646) 10.4% 529 (603) 12.3% 50 (43) 16.3%
Percent Sold 75.2% (72.1%) 4.3% 75.4% (72.7%) 3.7% 73.5% (64.2%) 14.5%
Total Raised £49M (£55M) 10.1% £37M (£44M) 16.3% £12M (£10M) 16.3%

North-WestNorth-West

March 2017 to May 2017 Total Residential Commercial
Lots Offered 1,277 (1,324) 3.5% 1,051 (1,080) 2.7% 226 (244) 7.4%
Lots Sold 948 (957) 0.9% 792 (777) 1.9% 156 (180) 13.3%
Percent Sold 74.2% (72.3%) 2.6% 75.4% (71.9%) 4.9% 69.0% (73.8%) 6.5%
Total Raised £109M (£106M) 2.2% £71M (£64M) 11.3% £38M (£42M) 11.4%

North-West-Home-CountiesNorth-West Home Counties

March 2017 to May 2017 Total Residential Commercial
Lots Offered 355 (321) 10.6% 288 (246) 17.1% 67 (75) 10.7%
Lots Sold 286 (265) 7.9% 234 (199) 17.6% 52 (66) 21.2%
Percent Sold 80.6% (82.6%) 2.4% 81.3% (80.9%) 0.5% 77.6% (88.0%) 11.8%
Total Raised £92M (£94M) 2.7% £63M (£54M) 16.7% £29M (£41M) 28.4%

Northern-IrelandNorthern Ireland

March 2017 to May 2017 Total Residential Commercial
Lots Offered 357 (303) 17.8% 293 (258) 13.6% 64 (45) 42.2%
Lots Sold 194 (157) 23.6% 155 (131) 18.3% 39 (26) 50.0%
Percent Sold 54.3% (51.8%) 4.8% 52.9% (50.8%) 4.1% 60.9% (57.8%) 5.4%
Total Raised £23M (£14M) 64.9% £17M (£10M) 66.7% £5M (£3M) 59.6%

ScotlandScotland

March 2017 to May 2017 Total Residential Commercial
Lots Offered 291 (278) 4.7% 186 (220) 15.5% 105 (58) 81.0%
Lots Sold 180 (177) 1.7% 97 (140) 30.7% 83 (37) 124.3%
Percent Sold 61.9% (63.7%) 2.8% 52.2% (63.6%) 17.9% 79.0% (63.8%) 23.8%
Total Raised £26M (£13M) 104.2% £5M (£8M) 31.7% £21M (£5M) 294.1%

South-East-Home-CountiesSouth-East Home Counties

March 2017 to May 2017 Total Residential Commercial
Lots Offered 996 (1,064) 6.4% 813 (829) 1.9% 183 (235) 22.1%
Lots Sold 803 (856) 6.2% 652 (658) 0.9% 151 (198) 23.7%
Percent Sold 80.6% (80.5%) 0.1% 80.2% (79.4%) 1.0% 82.5% (84.3%) 2.1%
Total Raised £200M (£244M) 18.1% £141M (£145M) 2.8% £60M (£100M) 40.3%

South-WestSouth-West

March 2017 to May 2017 Total Residential Commercial
Lots Offered 603 (545) 10.6% 427 (390) 9.5% 176 (155) 13.5%
Lots Sold 453 (423) 7.1% 316 (298) 6.0% 137 (125) 9.6%
Percent Sold 75.1% (77.6%) 3.2% 74.0% (76.4%) 3.1% 77.8% (80.6%) 3.5%
Total Raised £100M (£99M) 0.6% £64M (£59M) 9.3% £35M (£40M) 12.2%

WalesWales

March 2017 to May 2017 Total Residential Commercial
Lots Offered 553 (597) 7.4% 435 (440) 1.1% 118 (157) 24.8%
Lots Sold 405 (440) 8.0% 322 (325) 0.9% 83 (115) 27.8%
Percent Sold 73.2% (73.7%) 0.7% 74.0% (73.9%) 0.1% 70.3% (73.2%) 4.0%
Total Raised £38M (£43M) 12.6% £27M (£27M) 1.7% £11M (£16M) 31.4%

West-MidlandsWest Midlands

March 2017 to May 2017 Total Residential Commercial
Lots Offered 889 (881) 0.9% 733 (686) 6.9% 156 (195) 20.0%
Lots Sold 674 (684) 1.5% 559 (533) 4.9% 115 (151) 23.8%
Percent Sold 75.8% (77.6%) 2.3% 76.3% (77.7%) 1.8% 73.7% (77.4%) 4.8%
Total Raised £104M (£104M) 0.3% £71M (£61M) 17.7% £33M (£44M) 25.4%

Yorkshire-and-The-HumberYorkshire and The Humber

March 2017 to May 2017 Total Residential Commercial
Lots Offered 776 (809) 4.1% 645 (702) 8.1% 131 (107) 22.4%
Lots Sold 607 (590) 2.9% 507 (514) 1.4% 100 (76) 31.6%
Percent Sold 78.2% (72.9%) 7.3% 78.6% (73.2%) 7.4% 76.3% (71.0%) 7.5%
Total Raised £76M (£66M) 14.9% £51M (£46M) 9.0% £26M (£20M) 28.6%

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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