Essential Information Group

May 2017 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the May newsletter that looks back at auction activity in April and preceding periods. 111 property auctions were held across the UK last month, 28 fewer than in April 2016, so it is perhaps unsurprising to see falls in both lots offered and lots sold - down 9.5% and 8.6% respectively. The amount raised also decreased, from £242M in April 2016 to £215M in April 2017 - an 11.3% drop.

This decline in activity reflects what has been seen in the wider estate agency and lettings market, and with the current uncertainty surrounding the general election and Brexit, may continue in the immediate future.

As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general.
Overall Statistics April 2017
Auctions Held in the UK 111
Total Lots Offered 2,227
Total Lots Sold 1,647
Percent Sold 74%
Total Realised £214,755,965

National Auction Analysis

The residential auction market saw falls of around 10% in lots offered and lots sold, with similar double-digit falls also evident in the rolling quarterly figures. The commercial auction market was relatively unchanged last month, with 7 fewer lots offered compared to April 2016 (333 lots to 326 lots) and just 1 less sale.

Overall

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

April 2017 February 2017 to April 2017 May 2016 to April 2017
Lots Offered 2,227 (2,462) 9.5% 8,965 (9,874) 9.2% 32,965 (33,721) 2.2%
Lots Sold 1,647 (1,802) 8.6% 6,839 (7,510) 8.9% 24,975 (26,061) 4.2%
Percent Sold 74.0% (73.2%) 1.1% 76.3% (76.1%) 0.3% 75.8% (77.3%) 1.9%
Total Raised £215M (£242M) 11.3% £1,219M (£1,360M) 10.4% £4,458M (£4,689M) 4.9%

Residential

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

April 2017 February 2017 to April 2017 May 2016 to April 2017
Lots Offered 1,901 (2,129) 10.7% 7,419 (8,345) 11.1% 27,093 (27,817) 2.6%
Lots Sold 1,417 (1,571) 9.8% 5,620 (6,330) 11.2% 20,349 (21,407) 4.9%
Percent Sold 74.5% (73.8%) 0.9% 75.8% (75.9%) 0.1% 75.1% (77.0%) 2.5%
Total Raised £190M (£213M) 11.1% £878M (£979M) 10.3% £3,098M (£3,328M) 6.9%

Commercial

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

April 2017 February 2017 to April 2017 May 2016 to April 2017
Lots Offered 326 (333) 2.1% 1,546 (1,529) 1.1% 5,872 (5,904) 0.5%
Lots Sold 230 (231) 0.4% 1,219 (1,180) 3.3% 4,626 (4,654) 0.6%
Percent Sold 70.6% (69.4%) 1.7% 78.8% (77.2%) 2.1% 78.8% (78.8%) 0.0%
Total Raised £25M (£29M) 13.5% £341M (£381M) 10.7% £1,359M (£1,362M) 0.1%

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

February 2017 to April 2017 Total Residential Commercial
Lots Offered 277 (266) 4.1% 216 (199) 8.5% 61 (67) 9.0%
Lots Sold 229 (198) 15.7% 178 (150) 18.7% 51 (48) 6.3%
Percent Sold 82.7% (74.4%) 11.2% 82.4% (75.4%) 9.3% 83.6% (71.6%) 16.8%
Total Raised £39M (£31M) 26.2% £27M (£21M) 28.3% £13M (£10M) 21.7%

East-MidlandsEast Midlands

February 2017 to April 2017 Total Residential Commercial
Lots Offered 698 (788) 11.4% 602 (674) 10.7% 96 (114) 15.8%
Lots Sold 553 (595) 7.1% 481 (508) 5.3% 72 (87) 17.2%
Percent Sold 79.2% (75.5%) 4.9% 79.9% (75.4%) 6.0% 75.0% (76.3%) 1.7%
Total Raised £80M (£86M) 6.3% £55M (£58M) 5.4% £25M (£28M) 8.1%

LondonLondon

February 2017 to April 2017 Total Residential Commercial
Lots Offered 778 (871) 10.7% 705 (808) 12.7% 73 (63) 15.9%
Lots Sold 585 (716) 18.3% 524 (657) 20.2% 61 (59) 3.4%
Percent Sold 75.2% (82.2%) 8.5% 74.3% (81.3%) 8.6% 83.6% (93.7%) 10.8%
Total Raised £269M (£321M) 16.2% £237M (£280M) 15.4% £32M (£41M) 21.5%

North-EastNorth-East

February 2017 to April 2017 Total Residential Commercial
Lots Offered 832 (934) 10.9% 774 (863) 10.3% 58 (71) 18.3%
Lots Sold 626 (674) 7.1% 586 (629) 6.8% 40 (45) 11.1%
Percent Sold 75.2% (72.2%) 4.2% 75.7% (72.9%) 3.8% 69.0% (63.4%) 8.8%
Total Raised £48M (£57M) 15.4% £39M (£45M) 13.4% £9M (£11M) 23.5%

North-WestNorth-West

February 2017 to April 2017 Total Residential Commercial
Lots Offered 1,533 (1,741) 11.9% 1,253 (1,448) 13.5% 280 (293) 4.4%
Lots Sold 1,152 (1,280) 10.0% 941 (1,056) 10.9% 211 (224) 5.8%
Percent Sold 75.1% (73.5%) 2.2% 75.1% (72.9%) 3.0% 75.4% (76.5%) 1.4%
Total Raised £121M (£118M) 2.8% £78M (£84M) 7.2% £43M (£34M) 27.7%

North-West-Home-CountiesNorth-West Home Counties

February 2017 to April 2017 Total Residential Commercial
Lots Offered 388 (375) 3.5% 322 (299) 7.7% 66 (76) 13.2%
Lots Sold 307 (319) 3.8% 250 (250) 0.0% 57 (69) 17.4%
Percent Sold 79.1% (85.1%) 7.1% 77.6% (83.6%) 7.2% 86.4% (90.8%) 4.8%
Total Raised £102M (£121M) 15.2% £68M (£70M) 3.3% £35M (£51M) 31.5%

Northern-IrelandNorthern Ireland

February 2017 to April 2017 Total Residential Commercial
Lots Offered 230 (276) 16.7% 193 (233) 17.2% 37 (43) 14.0%
Lots Sold 118 (159) 25.8% 93 (135) 31.1% 25 (24) 4.2%
Percent Sold 51.3% (57.6%) 10.9% 48.2% (57.9%) 16.8% 67.6% (55.8%) 21.1%
Total Raised £9M (£14M) 31.3% £7M (£11M) 34.2% £2M (£3M) 20.4%

ScotlandScotland

February 2017 to April 2017 Total Residential Commercial
Lots Offered 284 (194) 46.4% 186 (148) 25.7% 98 (46) 113.0%
Lots Sold 194 (123) 57.7% 107 (92) 16.3% 87 (31) 180.6%
Percent Sold 68.3% (63.4%) 7.7% 57.5% (62.2%) 7.6% 88.8% (67.4%) 31.8%
Total Raised £27M (£10M) 163.1% £6M (£5M) 37.5% £21M (£6M) 261.2%

South-East-Home-CountiesSouth-East Home Counties

February 2017 to April 2017 Total Residential Commercial
Lots Offered 988 (1,202) 17.8% 824 (997) 17.4% 164 (205) 20.0%
Lots Sold 789 (987) 20.1% 656 (816) 19.6% 133 (171) 22.2%
Percent Sold 79.9% (82.1%) 2.7% 79.6% (81.8%) 2.7% 81.1% (83.4%) 2.8%
Total Raised £210M (£257M) 18.3% £149M (£174M) 14.2% £61M (£83M) 27.1%

South-WestSouth-West

February 2017 to April 2017 Total Residential Commercial
Lots Offered 588 (685) 14.2% 421 (545) 22.8% 167 (140) 19.3%
Lots Sold 448 (519) 13.7% 317 (410) 22.7% 131 (109) 20.2%
Percent Sold 76.2% (75.8%) 0.5% 75.3% (75.2%) 0.1% 78.4% (77.9%) 0.6%
Total Raised £100M (£107M) 6.4% £65M (£77M) 14.9% £35M (£30M) 15.5%

WalesWales

February 2017 to April 2017 Total Residential Commercial
Lots Offered 620 (596) 4.0% 494 (476) 3.8% 126 (120) 5.0%
Lots Sold 460 (442) 4.1% 366 (358) 2.2% 94 (84) 11.9%
Percent Sold 74.2% (74.2%) 0.0% 74.1% (75.2%) 1.5% 74.6% (70.0%) 6.6%
Total Raised £37M (£38M) 1.5% £27M (£27M) 0.6% £10M (£10M) 3.8%

West-MidlandsWest Midlands

February 2017 to April 2017 Total Residential Commercial
Lots Offered 905 (938) 3.5% 744 (766) 2.9% 161 (172) 6.4%
Lots Sold 705 (739) 4.6% 576 (597) 3.5% 129 (142) 9.2%
Percent Sold 77.9% (78.8%) 1.1% 77.4% (77.9%) 0.6% 80.1% (82.6%) 3.0%
Total Raised £105M (£114M) 7.8% £70M (£67M) 5.0% £35M (£47M) 25.9%

Yorkshire-and-The-HumberYorkshire and The Humber

February 2017 to April 2017 Total Residential Commercial
Lots Offered 844 (1,008) 16.3% 685 (889) 22.9% 159 (119) 33.6%
Lots Sold 673 (759) 11.3% 545 (672) 18.9% 128 (87) 47.1%
Percent Sold 79.7% (75.3%) 5.8% 79.6% (75.6%) 5.3% 80.5% (73.1%) 10.1%
Total Raised £70M (£88M) 19.9% £50M (£61M) 17.7% £20M (£27M) 24.7%

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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