Essential Information Group

October 2017 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the October newsletter that looks back at auction activity in September and preceding periods. I am pleased to report on a strong set of auction results, with 3,793 lots offered across 162 auctions (up 4% on September 16). The gavel fell on 2,857 lots, up almost 9% on last year, whilst total revenues exceeded £451M - up over 15% and the largest amount recorded in September since 2007.

Recent strong results have also helped push Q3 into largely positive territory, as despite a negligible fall in instructions (-1.6%) the volume of sales increased by 3% to 6,323 lots and amount raised by 11% to £1.06bn. It is certainly an encouraging start to the busy Autumn schedule, and one hopes that the market continues to gather pace.

As ever I would welcome any comments or feedback you have regarding the newsletter or the wider market.
Overall Statistics September 2017
Auctions Held in the UK 162
Total Lots Offered 3,793
Total Lots Sold 2,857
Percent Sold 75.3%
Total Realised £451,008,361

National Auction Analysis

The residential auction sector witnessed a bumper month, with lots offered up 6.7% to 3,371 lots and lots sold up 11% to 2,546 lots - the largest volume of September sales recorded since 2012. This helped push residential revenues up and over £403M; a £61M gain on last year and figures which are indicative of a competitive market with bidders seemingly not unnerved by talk of impending interest rate rises.

In the commercial sector, lots offered and sold were down 13% and 7.7% respectively on last year whilst the amount raised barely changed, however one shouldn't read too much into these figures as none of the major commercial London auction houses held an auction in September. We are simply seeing fluctuations in the volume of commercial lots offered by residential auctioneers across the regions - we'll get a much better gauge of progress next month.

Overall

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

September 2017 July 2017 to September 2017 October 2016 to September 2017
Lots Offered 3,793 (3,647) 4.0% 8,332 (8,471) 1.6% 32,694 (33,737) 3.1%
Lots Sold 2,857 (2,626) 8.8% 6,323 (6,145) 2.9% 25,098 (25,636) 2.1%
Percent Sold 75.3% (72.0%) 4.6% 75.9% (72.5%) 4.7% 76.8% (76.0%) 1.1%
Total Raised £451M (£390M) 15.5% £1,060M (£956M) 10.9% £4,529M (£4,656M) 2.7%

Residential

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

September 2017 July 2017 to September 2017 October 2016 to September 2017
Lots Offered 3,371 (3,160) 6.7% 7,131 (7,090) 0.6% 27,185 (27,888) 2.5%
Lots Sold 2,546 (2,289) 11.2% 5,407 (5,127) 5.5% 20,734 (21,069) 1.6%
Percent Sold 75.5% (72.4%) 4.3% 75.8% (72.3%) 4.8% 76.3% (75.5%) 1.1%
Total Raised £403M (£342M) 17.9% £817M (£736M) 10.9% £3,165M (£3,271M) 3.2%

Commercial

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

September 2017 July 2017 to September 2017 October 2016 to September 2017
Lots Offered 422 (487) 13.3% 1,201 (1,381) 13.0% 5,509 (5,849) 5.8%
Lots Sold 311 (337) 7.7% 916 (1,018) 10.0% 4,364 (4,567) 4.4%
Percent Sold 73.7% (69.2%) 6.5% 76.3% (73.7%) 3.5% 79.2% (78.1%) 1.4%
Total Raised £48M (£48M) 1.1% £244M (£220M) 10.8% £1,364M (£1,385M) 1.5%

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

July 2017 to September 2017 Total Residential Commercial
Lots Offered 241 (211) 14.2% 188 (160) 17.5% 53 (51) 3.9%
Lots Sold 185 (167) 10.8% 141 (125) 12.8% 44 (42) 4.8%
Percent Sold 76.8% (79.1%) 2.9% 75.0% (78.1%) 4.0% 83.0% (82.4%) 0.7%
Total Raised £37M (£24M) 55.1% £27M (£17M) 59.8% £11M (£7M) 44.5%

East-MidlandsEast Midlands

July 2017 to September 2017 Total Residential Commercial
Lots Offered 713 (725) 1.7% 606 (616) 1.6% 107 (109) 1.8%
Lots Sold 562 (559) 0.5% 479 (471) 1.7% 83 (88) 5.7%
Percent Sold 78.8% (77.1%) 2.2% 79.0% (76.5%) 3.3% 77.6% (80.7%) 3.8%
Total Raised £75M (£64M) 17.2% £54M (£48M) 14.1% £21M (£16M) 26.5%

LondonLondon

July 2017 to September 2017 Total Residential Commercial
Lots Offered 636 (621) 2.4% 583 (582) 0.2% 53 (39) 35.9%
Lots Sold 448 (437) 2.5% 403 (408) 1.2% 45 (29) 55.2%
Percent Sold 70.4% (70.4%) 0.0% 69.1% (70.1%) 1.4% 84.9% (74.4%) 14.1%
Total Raised £202M (£185M) 9.0% £165M (£169M) 2.5% £37M (£16M) 126.9%

North-EastNorth-East

July 2017 to September 2017 Total Residential Commercial
Lots Offered 791 (771) 2.6% 738 (712) 3.7% 53 (59) 10.2%
Lots Sold 620 (534) 16.1% 581 (490) 18.6% 39 (44) 11.4%
Percent Sold 78.4% (69.3%) 13.1% 78.7% (68.8%) 14.4% 73.6% (74.6%) 1.3%
Total Raised £45M (£41M) 9.4% £39M (£35M) 13.2% £6M (£7M) 9.9%

North-WestNorth-West

July 2017 to September 2017 Total Residential Commercial
Lots Offered 1,433 (1,464) 2.1% 1,240 (1,211) 2.4% 193 (253) 23.7%
Lots Sold 1,068 (1,051) 1.6% 929 (858) 8.3% 139 (193) 28.0%
Percent Sold 74.5% (71.8%) 3.8% 74.9% (70.9%) 5.6% 72.0% (76.3%) 5.6%
Total Raised £104M (£108M) 3.5% £81M (£70M) 14.7% £23M (£38M) 37.5%

North-West-Home-CountiesNorth-West Home Counties

July 2017 to September 2017 Total Residential Commercial
Lots Offered 342 (374) 8.6% 265 (323) 18.0% 77 (51) 51.0%
Lots Sold 269 (300) 10.3% 209 (268) 22.0% 60 (32) 87.5%
Percent Sold 78.7% (80.2%) 1.9% 78.9% (83.0%) 4.9% 77.9% (62.7%) 24.2%
Total Raised £120M (£75M) 59.0% £80M (£63M) 28.2% £40M (£13M) 207.7%

Northern-IrelandNorthern Ireland

July 2017 to September 2017 Total Residential Commercial
Lots Offered 136 (148) 8.1% 128 (127) 0.8% 8 (21) 61.9%
Lots Sold 63 (76) 17.1% 60 (65) 7.7% 3 (11) 72.7%
Percent Sold 46.3% (51.4%) 9.9% 46.9% (51.2%) 8.4% 37.5% (52.4%) 28.4%
Total Raised £6M (£6M) 9.8% £6M (£4M) 33.7% £0M (£1M) 76.9%

ScotlandScotland

July 2017 to September 2017 Total Residential Commercial
Lots Offered 154 (259) 40.5% 113 (221) 48.9% 41 (38) 7.9%
Lots Sold 99 (129) 23.3% 71 (106) 33.0% 28 (23) 21.7%
Percent Sold 64.3% (49.8%) 29.1% 62.8% (48.0%) 30.8% 68.3% (60.5%) 12.9%
Total Raised £9M (£9M) 5.8% £3M (£6M) 45.7% £6M (£2M) 143.6%

South-East-Home-CountiesSouth-East Home Counties

July 2017 to September 2017 Total Residential Commercial
Lots Offered 951 (885) 7.5% 803 (735) 9.3% 148 (150) 1.3%
Lots Sold 710 (672) 5.7% 592 (567) 4.4% 118 (105) 12.4%
Percent Sold 74.7% (75.9%) 1.6% 73.7% (77.1%) 4.4% 79.7% (70.0%) 13.9%
Total Raised £164M (£165M) 0.6% £127M (£125M) 1.8% £37M (£41M) 8.3%

South-WestSouth-West

July 2017 to September 2017 Total Residential Commercial
Lots Offered 508 (666) 23.7% 365 (468) 22.0% 143 (198) 27.8%
Lots Sold 389 (474) 17.9% 280 (328) 14.6% 109 (146) 25.3%
Percent Sold 76.6% (71.2%) 7.6% 76.7% (70.1%) 9.4% 76.2% (73.7%) 3.4%
Total Raised £82M (£79M) 3.9% £61M (£60M) 3.0% £21M (£20M) 6.7%

WalesWales

July 2017 to September 2017 Total Residential Commercial
Lots Offered 518 (608) 14.8% 414 (487) 15.0% 104 (121) 14.0%
Lots Sold 380 (447) 15.0% 309 (355) 13.0% 71 (92) 22.8%
Percent Sold 73.4% (73.5%) 0.1% 74.6% (72.9%) 2.3% 68.3% (76.0%) 10.1%
Total Raised £36M (£41M) 11.1% £27M (£28M) 4.0% £10M (£13M) 25.9%

West-MidlandsWest Midlands

July 2017 to September 2017 Total Residential Commercial
Lots Offered 1,011 (954) 6.0% 897 (789) 13.7% 114 (165) 30.9%
Lots Sold 823 (720) 14.3% 729 (605) 20.5% 94 (115) 18.3%
Percent Sold 81.4% (75.5%) 7.8% 81.3% (76.7%) 6.0% 82.5% (69.7%) 18.4%
Total Raised £106M (£95M) 12.6% £89M (£72M) 24.5% £17M (£23M) 25.1%

Yorkshire-and-The-HumberYorkshire and The Humber

July 2017 to September 2017 Total Residential Commercial
Lots Offered 898 (785) 14.4% 791 (659) 20.0% 107 (126) 15.1%
Lots Sold 707 (579) 22.1% 624 (481) 29.7% 83 (98) 15.3%
Percent Sold 78.7% (73.8%) 6.6% 78.9% (73.0%) 8.1% 77.6% (77.8%) 0.3%
Total Raised £72M (£64M) 13.1% £57M (£41M) 39.8% £15M (£23M) 35.1%

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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