Essential Information Group

November 2017 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the November newsletter that looks back at auction activity in October and preceding periods. Whilst the figures below are dominated by large double-digit rises - notably the 14% and 16% increases in lots offered and sold respectively and 30% rise in total revenues - it should be noted that several major residential auctioneers held their Autumn auction in October this year compared to November last year.

This has certainly attributed to the inflated numbers seen below, but that caveat aside our analysis still indicates a positive month with many auctioneers enjoying bumper auctions - more on this in the National Auction Analysis below.

Before I sign off, I am proud to announce that Essential Information Group recently won the Silver award for "Supplier of the Year: Technology" at this year's Negotiator Awards. We are honoured to receive the award, especially given the quality and number of other entrants, and I am delighted for the whole team who work tirelessly to deliver essential services to the auction industry.

EIG wins silver at the Negotiator Awards 2017

As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general.
Overall Statistics October 2017
Auctions Held in the UK 127
Total Lots Offered 3,642
Total Lots Sold 2,721
Percent Sold 74.7%
Total Realised £577,945,396

National Auction Analysis

As mentioned above, last month's figures are somewhat skewed because of the auction dates chosen by several major residential auctioneers. If we discount these auctions, and those held by 6 major auctioneers which held an auction in October last year and their corresponding auction in November this year, we can see that the overall amount raised climbed from £410M in October 2016 to £479M in October 2017 - a rise of 17%.

It is certainly encouraging and dispels any talk about there being a downcast market. With a busy winter schedule ahead one hopes that this trend continues!

Overall

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

October 2017 August 2017 to October 2017 November 2016 to October 2017
Lots Offered 3,642 (3,133) 16.2% 8,371 (7,873) 6.3% 33,242 (33,652) 1.2%
Lots Sold 2,721 (2,327) 16.9% 6,249 (5,749) 8.7% 25,448 (25,537) 0.3%
Percent Sold 74.7% (74.3%) 0.5% 74.7% (73.0%) 2.3% 76.6% (75.9%) 0.9%
Total Raised £578M (£444M) 30.3% £1,105M (£914M) 21.0% £4,623M (£4,557M) 1.5%

Residential

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

October 2017 August 2017 to October 2017 November 2016 to October 2017
Lots Offered 2,788 (2,300) 21.2% 6,996 (6,454) 8.4% 27,700 (27,754) 0.2%
Lots Sold 2,044 (1,679) 21.7% 5,196 (4,686) 10.9% 21,081 (20,943) 0.7%
Percent Sold 73.3% (73.0%) 0.4% 74.3% (72.6%) 2.3% 76.1% (75.5%) 0.8%
Total Raised £297M (£233M) 27.1% £772M (£647M) 19.2% £3,228M (£3,204M) 0.7%

Commercial

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

October 2017 August 2017 to October 2017 November 2016 to October 2017
Lots Offered 854 (833) 2.5% 1,375 (1,419) 3.1% 5,542 (5,898) 6.0%
Lots Sold 677 (648) 4.5% 1,053 (1,063) 0.9% 4,367 (4,594) 4.9%
Percent Sold 79.3% (77.8%) 1.9% 76.6% (74.9%) 2.3% 78.8% (77.9%) 1.2%
Total Raised £281M (£210M) 33.8% £334M (£266M) 25.4% £1,395M (£1,352M) 3.2%

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

August 2017 to October 2017 Total Residential Commercial
Lots Offered 309 (202) 53.0% 233 (131) 77.9% 76 (71) 7.0%
Lots Sold 227 (161) 41.0% 165 (103) 60.2% 62 (58) 6.9%
Percent Sold 73.5% (79.7%) 7.8% 70.8% (78.6%) 9.9% 81.6% (81.7%) 0.1%
Total Raised £52M (£28M) 81.8% £26M (£15M) 79.4% £25M (£14M) 84.4%

East-MidlandsEast Midlands

August 2017 to October 2017 Total Residential Commercial
Lots Offered 585 (697) 16.1% 483 (597) 19.1% 102 (100) 2.0%
Lots Sold 470 (545) 13.8% 387 (467) 17.1% 83 (78) 6.4%
Percent Sold 80.3% (78.2%) 2.7% 80.1% (78.2%) 2.4% 81.4% (78.0%) 4.4%
Total Raised £72M (£65M) 11.4% £48M (£49M) 2.4% £24M (£15M) 56.1%

LondonLondon

August 2017 to October 2017 Total Residential Commercial
Lots Offered 595 (473) 25.8% 532 (433) 22.9% 63 (40) 57.5%
Lots Sold 412 (342) 20.5% 363 (309) 17.5% 49 (33) 48.5%
Percent Sold 69.2% (72.3%) 4.3% 68.2% (71.4%) 4.5% 77.8% (82.5%) 5.7%
Total Raised £196M (£150M) 30.0% £164M (£128M) 27.4% £32M (£22M) 45.2%

North-EastNorth-East

August 2017 to October 2017 Total Residential Commercial
Lots Offered 746 (793) 5.9% 696 (724) 3.9% 50 (69) 27.5%
Lots Sold 562 (563) 0.2% 531 (516) 2.9% 31 (47) 34.0%
Percent Sold 75.3% (71.0%) 6.1% 76.3% (71.3%) 7.0% 62.0% (68.1%) 9.0%
Total Raised £40M (£45M) 10.8% £35M (£38M) 6.8% £5M (£7M) 31.6%

North-WestNorth-West

August 2017 to October 2017 Total Residential Commercial
Lots Offered 1,291 (1,246) 3.6% 1,098 (1,020) 7.6% 193 (226) 14.6%
Lots Sold 943 (900) 4.8% 797 (735) 8.4% 146 (165) 11.5%
Percent Sold 73.0% (72.2%) 1.1% 72.6% (72.1%) 0.7% 75.6% (73.0%) 3.6%
Total Raised £91M (£91M) 0.5% £64M (£60M) 5.8% £28M (£31M) 10.0%

North-West-Home-CountiesNorth-West Home Counties

August 2017 to October 2017 Total Residential Commercial
Lots Offered 331 (354) 6.5% 249 (264) 5.7% 82 (90) 8.9%
Lots Sold 241 (297) 18.9% 176 (219) 19.6% 65 (78) 16.7%
Percent Sold 72.8% (83.9%) 13.2% 70.7% (83.0%) 14.8% 79.3% (86.7%) 8.5%
Total Raised £112M (£83M) 35.1% £67M (£51M) 31.2% £45M (£32M) 41.5%

Northern-IrelandNorthern Ireland

August 2017 to October 2017 Total Residential Commercial
Lots Offered 304 (199) 52.8% 262 (180) 45.6% 42 (19) 121.1%
Lots Sold 167 (80) 108.8% 138 (74) 86.5% 29 (6) 383.3%
Percent Sold 54.9% (40.2%) 36.6% 52.7% (41.1%) 28.2% 69.0% (31.6%) 118.4%
Total Raised £14M (£6M) 123.1% £11M (£6M) 100.1% £3M (£1M) 328.5%

ScotlandScotland

August 2017 to October 2017 Total Residential Commercial
Lots Offered 237 (266) 10.9% 186 (225) 17.3% 51 (41) 24.4%
Lots Sold 154 (137) 12.4% 117 (108) 8.3% 37 (29) 27.6%
Percent Sold 65.0% (51.5%) 26.2% 62.9% (48.0%) 31.0% 72.5% (70.7%) 2.5%
Total Raised £15M (£13M) 13.7% £6M (£6M) 9.8% £9M (£7M) 35.5%

South-East-Home-CountiesSouth-East Home Counties

August 2017 to October 2017 Total Residential Commercial
Lots Offered 1,035 (831) 24.5% 854 (657) 30.0% 181 (174) 4.0%
Lots Sold 789 (646) 22.1% 643 (511) 25.8% 146 (135) 8.1%
Percent Sold 76.2% (77.7%) 1.9% 75.3% (77.8%) 3.2% 80.7% (77.6%) 4.0%
Total Raised £185M (£155M) 19.4% £127M (£109M) 16.8% £58M (£46M) 25.6%

South-WestSouth-West

August 2017 to October 2017 Total Residential Commercial
Lots Offered 517 (555) 6.8% 355 (368) 3.5% 162 (187) 13.4%
Lots Sold 377 (409) 7.8% 264 (266) 0.8% 113 (143) 21.0%
Percent Sold 72.9% (73.7%) 1.1% 74.4% (72.3%) 2.9% 69.8% (76.5%) 8.8%
Total Raised £77M (£78M) 0.5% £54M (£49M) 8.5% £24M (£28M) 16.4%

WalesWales

August 2017 to October 2017 Total Residential Commercial
Lots Offered 552 (585) 5.6% 450 (456) 1.3% 102 (129) 20.9%
Lots Sold 401 (424) 5.4% 331 (329) 0.6% 70 (95) 26.3%
Percent Sold 72.6% (72.5%) 0.1% 73.6% (72.1%) 2.1% 68.6% (73.6%) 6.8%
Total Raised £39M (£40M) 0.2% £28M (£28M) 1.6% £12M (£11M) 3.4%

West-MidlandsWest Midlands

August 2017 to October 2017 Total Residential Commercial
Lots Offered 1,024 (868) 18.0% 871 (728) 19.6% 153 (140) 9.3%
Lots Sold 825 (655) 26.0% 698 (554) 26.0% 127 (101) 25.7%
Percent Sold 80.6% (75.5%) 6.8% 80.1% (76.1%) 5.3% 83.0% (72.1%) 15.1%
Total Raised £132M (£89M) 48.5% £90M (£61M) 46.1% £42M (£27M) 53.8%

Yorkshire-and-The-HumberYorkshire and The Humber

August 2017 to October 2017 Total Residential Commercial
Lots Offered 845 (804) 5.1% 727 (671) 8.3% 118 (133) 11.3%
Lots Sold 681 (590) 15.4% 586 (495) 18.4% 95 (95) 0.0%
Percent Sold 80.6% (73.4%) 9.8% 80.6% (73.8%) 9.2% 80.5% (71.4%) 12.7%
Total Raised £80M (£71M) 13.0% £52M (£46M) 13.9% £28M (£25M) 11.4%

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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