Essential Information Group

September 2017 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the September newsletter that looks back at property auction activity in August and preceding periods. As always August was a quiet month for the auction industry, with only 47 auctions held across the UK. Slight falls in lots offered (down 8.8%) and lots sold (down 7.5%) were offset by a 10% rise in total revenues (up £7M to £69M), however one shouldn't read too much into the figures due to the small sample set available.

As ever I would welcome any comments or feedback you may have regarding the newsletter or indeed the wider market in general.
Overall Statistics August 2017
Auctions Held in the UK 47
Total Lots Offered 876
Total Lots Sold 620
Percent Sold 70.8%
Total Realised £68,585,598

National Auction Analysis

In the residential sector, the rolling quarterly figures show only marginal changes compared to last year - lots offered fell 1.5% to 6,061 lots but lots sold increased 0.4% to 4,507 lots. The sale rate jumped over 2 percentage points to 74.4% which remains comparable to the long-term average.

In the commercial auction market, the rolling quarterly figures show a double-digit fall in lots offered; down 12.2% to 1,118 lots, however lot values have seemingly increased as commercial revenues jumped 11% to £228M over the same period.

Overall

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

August 2017 June 2017 to August 2017 September 2016 to August 2017
Lots Offered 876 (960) 8.8% 7,179 (7,427) 3.3% 32,628 (33,902) 3.8%
Lots Sold 620 (670) 7.5% 5,369 (5,439) 1.3% 24,983 (25,936) 3.7%
Percent Sold 70.8% (69.8%) 1.4% 74.8% (73.2%) 2.2% 76.6% (76.5%) 0.1%
Total Raised £69M (£62M) 10.0% £868M (£838M) 3.6% £4,489M (£4,709M) 4.7%

Residential

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

August 2017 June 2017 to August 2017 September 2016 to August 2017
Lots Offered 801 (880) 9.0% 6,061 (6,153) 1.5% 27,031 (28,015) 3.5%
Lots Sold 568 (609) 6.7% 4,507 (4,488) 0.4% 20,565 (21,321) 3.5%
Percent Sold 70.9% (69.2%) 2.5% 74.4% (72.9%) 2.1% 76.1% (76.1%) 0.0%
Total Raised £64M (£57M) 12.9% £640M (£633M) 1.2% £3,120M (£3,320M) 6.0%

Commercial

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

August 2017 June 2017 to August 2017 September 2016 to August 2017
Lots Offered 75 (80) 6.3% 1,118 (1,274) 12.2% 5,597 (5,887) 4.9%
Lots Sold 52 (61) 14.8% 862 (951) 9.4% 4,418 (4,615) 4.3%
Percent Sold 69.3% (76.3%) 9.2% 77.1% (74.6%) 3.4% 78.9% (78.4%) 0.6%
Total Raised £4M (£6M) 19.9% £228M (£206M) 11.0% £1,369M (£1,390M) 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

June 2017 to August 2017 Total Residential Commercial
Lots Offered 232 (209) 11.0% 172 (162) 6.2% 60 (47) 27.7%
Lots Sold 186 (174) 6.9% 133 (131) 1.5% 53 (43) 23.3%
Percent Sold 80.2% (83.3%) 3.7% 77.3% (80.9%) 4.4% 88.3% (91.5%) 3.5%
Total Raised £36M (£24M) 47.1% £25M (£18M) 39.4% £11M (£7M) 67.1%

East-MidlandsEast Midlands

June 2017 to August 2017 Total Residential Commercial
Lots Offered 610 (571) 6.8% 518 (485) 6.8% 92 (86) 7.0%
Lots Sold 484 (432) 12.0% 411 (366) 12.3% 73 (66) 10.6%
Percent Sold 79.3% (75.7%) 4.8% 79.3% (75.5%) 5.0% 79.3% (76.7%) 3.4%
Total Raised £65M (£54M) 20.7% £47M (£38M) 23.6% £18M (£16M) 13.6%

LondonLondon

June 2017 to August 2017 Total Residential Commercial
Lots Offered 533 (535) 0.4% 483 (501) 3.6% 50 (34) 47.1%
Lots Sold 367 (383) 4.2% 325 (358) 9.2% 42 (25) 68.0%
Percent Sold 68.9% (71.6%) 3.8% 67.3% (71.5%) 5.9% 84.0% (73.5%) 14.3%
Total Raised £157M (£155M) 1.6% £122M (£141M) 13.5% £35M (£14M) 151.9%

North-EastNorth-East

June 2017 to August 2017 Total Residential Commercial
Lots Offered 714 (765) 6.7% 667 (707) 5.7% 47 (58) 19.0%
Lots Sold 562 (526) 6.8% 527 (487) 8.2% 35 (39) 10.3%
Percent Sold 78.7% (68.8%) 14.4% 79.0% (68.9%) 14.7% 74.5% (67.2%) 10.9%
Total Raised £46M (£41M) 10.6% £40M (£35M) 14.0% £6M (£6M) 8.0%

North-WestNorth-West

June 2017 to August 2017 Total Residential Commercial
Lots Offered 1,086 (1,216) 10.7% 917 (984) 6.8% 169 (232) 27.2%
Lots Sold 822 (885) 7.1% 698 (704) 0.9% 124 (181) 31.5%
Percent Sold 75.7% (72.8%) 4.0% 76.1% (71.5%) 6.4% 73.4% (78.0%) 5.9%
Total Raised £87M (£98M) 12.1% £65M (£60M) 9.0% £21M (£39M) 44.6%

North-West-Home-CountiesNorth-West Home Counties

June 2017 to August 2017 Total Residential Commercial
Lots Offered 317 (302) 5.0% 245 (249) 1.6% 72 (53) 35.8%
Lots Sold 241 (241) 0.0% 185 (208) 11.1% 56 (33) 69.7%
Percent Sold 76.0% (79.8%) 4.8% 75.5% (83.5%) 9.6% 77.8% (62.3%) 24.9%
Total Raised £80M (£58M) 37.6% £41M (£47M) 13.2% £39M (£11M) 259.0%

Northern-IrelandNorthern Ireland

June 2017 to August 2017 Total Residential Commercial
Lots Offered 228 (278) 18.0% 195 (234) 16.7% 33 (44) 25.0%
Lots Sold 117 (121) 3.3% 94 (96) 2.1% 23 (25) 8.0%
Percent Sold 51.3% (43.5%) 17.9% 48.2% (41.0%) 17.6% 69.7% (56.8%) 22.7%
Total Raised £13M (£9M) 46.2% £10M (£7M) 42.8% £4M (£2M) 56.3%

ScotlandScotland

June 2017 to August 2017 Total Residential Commercial
Lots Offered 202 (224) 9.8% 165 (178) 7.3% 37 (46) 19.6%
Lots Sold 125 (134) 6.7% 97 (103) 5.8% 28 (31) 9.7%
Percent Sold 61.9% (59.8%) 3.5% 58.8% (57.9%) 1.6% 75.7% (67.4%) 12.3%
Total Raised £11M (£10M) 12.8% £5M (£6M) 15.0% £5M (£3M) 70.0%

South-East-Home-CountiesSouth-East Home Counties

June 2017 to August 2017 Total Residential Commercial
Lots Offered 822 (771) 6.6% 675 (619) 9.0% 147 (152) 3.3%
Lots Sold 625 (593) 5.4% 503 (483) 4.1% 122 (110) 10.9%
Percent Sold 76.0% (76.9%) 1.2% 74.5% (78.0%) 4.5% 83.0% (72.4%) 14.6%
Total Raised £142M (£140M) 1.2% £107M (£105M) 2.4% £35M (£36M) 2.2%

South-WestSouth-West

June 2017 to August 2017 Total Residential Commercial
Lots Offered 418 (580) 27.9% 288 (406) 29.1% 130 (174) 25.3%
Lots Sold 304 (433) 29.8% 200 (300) 33.3% 104 (133) 21.8%
Percent Sold 72.7% (74.7%) 2.7% 69.4% (73.9%) 6.1% 80.0% (76.4%) 4.7%
Total Raised £61M (£72M) 15.2% £41M (£53M) 21.9% £20M (£19M) 3.8%

WalesWales

June 2017 to August 2017 Total Residential Commercial
Lots Offered 491 (467) 5.1% 400 (368) 8.7% 91 (99) 8.1%
Lots Sold 356 (342) 4.1% 296 (268) 10.4% 60 (74) 18.9%
Percent Sold 72.5% (73.2%) 1.0% 74.0% (72.8%) 1.6% 65.9% (74.7%) 11.8%
Total Raised £35M (£33M) 6.9% £26M (£21M) 23.2% £9M (£11M) 23.8%

West-MidlandsWest Midlands

June 2017 to August 2017 Total Residential Commercial
Lots Offered 834 (763) 9.3% 732 (637) 14.9% 102 (126) 19.0%
Lots Sold 642 (600) 7.0% 566 (507) 11.6% 76 (93) 18.3%
Percent Sold 77.0% (78.6%) 2.0% 77.3% (79.6%) 2.9% 74.5% (73.8%) 0.9%
Total Raised £79M (£79M) 0.9% £66M (£60M) 10.0% £12M (£19M) 35.3%

Yorkshire-and-The-HumberYorkshire and The Humber

June 2017 to August 2017 Total Residential Commercial
Lots Offered 692 (746) 7.2% 604 (623) 3.0% 88 (123) 28.5%
Lots Sold 538 (575) 6.4% 472 (477) 1.0% 66 (98) 32.7%
Percent Sold 77.7% (77.1%) 0.8% 78.1% (76.6%) 2.0% 75.0% (79.7%) 5.9%
Total Raised £56M (£64M) 11.8% £44M (£42M) 5.8% £12M (£22M) 44.6%

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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