Essential Information Group

April 2018 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the April newsletter that looks back at auction activity in March and preceding periods. For the second successive month the industry has enjoyed considerable growth in terms of volumes, with overall lots offered up 11.5% to 3,088 lots and lots sold up 10.6% to 2,283 lots.

Our records show that this is highest number of lots put under the hammer during March since 2008 (3,263 lots). A decade ago the economy was in the midst of a credit crunch and the auction market saw increasing numbers of repossessions and motivated vendors but fewer buyers; indeed, the sale rate was a lowly 62% compared to the far more sustainable 74% we see now.

As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general.

Please note the newsletter can also be viewed online.
Overall Statistics March 2018
Auctions Held in the UK 116
Total Lots Offered 3,088
Total Lots Sold 2,283
Percent Sold 73.9%
Total Realised £416,486,724

National Auction Analysis

The recent gains have also had a positive impact on the quarterly and yearly results. Over 500 more lots were offered in Q1 2018 than in Q1 2017 - a gain of 7.2%, whilst the rolling yearly figures show a 1.2% increase over the last 12 months to 33,495 lots.

The residential sector has certainly been the main contributor to these gains. Residential lots offered and sold were both up over 12% in March, to 2,511 lots and 1,847 lots respectively, whilst residential receipts jumped almost 15% to £301M. This is the highest number of residential sales ever recorded in March, surpassing the previous high of 1,846 lots sold in March 2007.

All the major London commercial auctioneers held an auction during March, so it is pleasing to see volumes up on last year - lots offered by 6.7% to 577 lots and lots sold by 4.3% to 436 lots. The amount raised did contract slightly though; down 17% to £116M, suggesting an increase of smaller-sized lots going under the hammer.

Overall

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

March 2018 January 2018 to March 2018 April 2017 to March 2018
Lots Offered 3,088 (2,769) 11.5% 7,586 (7,074) 7.2% 33,495 (33,091) 1.2%
Lots Sold 2,283 (2,064) 10.6% 5,708 (5,444) 4.8% 25,540 (25,109) 1.7%
Percent Sold 73.9% (74.5%) 0.8% 75.2% (77.0%) 2.3% 76.3% (75.9%) 0.5%
Total Raised £416M (£402M) 3.6% £1,012M (£1,026M) 1.4% £4,562M (£4,489M) 1.6%

Residential

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

March 2018 January 2018 to March 2018 April 2017 to March 2018
Lots Offered 2,511 (2,228) 12.7% 6,357 (5,845) 8.8% 28,005 (27,218) 2.9%
Lots Sold 1,847 (1,646) 12.2% 4,777 (4,451) 7.3% 21,273 (20,478) 3.9%
Percent Sold 73.6% (73.9%) 0.4% 75.1% (76.2%) 1.4% 76.0% (75.2%) 1.1%
Total Raised £301M (£262M) 14.6% £755M (£713M) 5.9% £3,219M (£3,127M) 2.9%

Commercial

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

March 2018 January 2018 to March 2018 April 2017 to March 2018
Lots Offered 577 (541) 6.7% 1,229 (1,229) 0.0% 5,490 (5,873) 6.5%
Lots Sold 436 (418) 4.3% 931 (993) 6.2% 4,267 (4,631) 7.9%
Percent Sold 75.6% (77.3%) 2.2% 75.8% (80.8%) 6.2% 77.7% (78.9%) 1.5%
Total Raised £116M (£140M) 17.1% £257M (£313M) 18.0% £1,343M (£1,362M) 1.4%

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

January 2018 to March 2018 Total Residential Commercial
Lots Offered 224 (195) 14.9% 176 (146) 20.5% 48 (49) 2.0%
Lots Sold 173 (160) 8.1% 138 (120) 15.0% 35 (40) 12.5%
Percent Sold 77.2% (82.1%) 6.0% 78.4% (82.2%) 4.6% 72.9% (81.6%) 10.7%
Total Raised £31M (£30M) 4.1% £21M (£19M) 9.6% £10M (£11M) 5.6%

East-MidlandsEast Midlands

January 2018 to March 2018 Total Residential Commercial
Lots Offered 484 (493) 1.8% 397 (411) 3.4% 87 (82) 6.1%
Lots Sold 367 (394) 6.9% 301 (333) 9.6% 66 (61) 8.2%
Percent Sold 75.8% (79.9%) 5.1% 75.8% (81.0%) 6.4% 75.9% (74.4%) 2.0%
Total Raised £54M (£59M) 9.1% £35M (£35M) 0.8% £19M (£24M) 21.2%

LondonLondon

January 2018 to March 2018 Total Residential Commercial
Lots Offered 647 (668) 3.1% 584 (602) 3.0% 63 (66) 4.5%
Lots Sold 472 (504) 6.3% 427 (447) 4.5% 45 (57) 21.1%
Percent Sold 73.0% (75.4%) 3.2% 73.1% (74.3%) 1.6% 71.4% (86.4%) 17.4%
Total Raised £230M (£238M) 3.5% £193M (£207M) 6.7% £37M (£32M) 17.3%

North-EastNorth-East

January 2018 to March 2018 Total Residential Commercial
Lots Offered 706 (690) 2.3% 665 (639) 4.1% 41 (51) 19.6%
Lots Sold 541 (534) 1.3% 511 (496) 3.0% 30 (38) 21.1%
Percent Sold 76.6% (77.4%) 1.0% 76.8% (77.6%) 1.0% 73.2% (74.5%) 1.7%
Total Raised £38M (£42M) 9.5% £34M (£33M) 1.7% £4M (£8M) 54.9%

North-WestNorth-West

January 2018 to March 2018 Total Residential Commercial
Lots Offered 1,216 (1,118) 8.8% 992 (922) 7.6% 224 (196) 14.3%
Lots Sold 929 (836) 11.1% 761 (685) 11.1% 168 (151) 11.3%
Percent Sold 76.4% (74.8%) 2.1% 76.7% (74.3%) 3.2% 75.0% (77.0%) 2.6%
Total Raised £90M (£91M) 1.6% £63M (£55M) 15.4% £27M (£37M) 26.8%

North-West-Home-CountiesNorth-West Home Counties

January 2018 to March 2018 Total Residential Commercial
Lots Offered 362 (296) 22.3% 300 (233) 28.8% 62 (63) 1.6%
Lots Sold 253 (234) 8.1% 208 (179) 16.2% 45 (55) 18.2%
Percent Sold 69.9% (79.1%) 11.6% 69.3% (76.8%) 9.8% 72.6% (87.3%) 16.8%
Total Raised £94M (£89M) 6.2% £71M (£57M) 24.6% £23M (£32M) 26.8%

Northern-IrelandNorthern Ireland

January 2018 to March 2018 Total Residential Commercial
Lots Offered 254 (234) 8.5% 218 (196) 11.2% 36 (38) 5.3%
Lots Sold 131 (120) 9.2% 109 (95) 14.7% 22 (25) 12.0%
Percent Sold 51.6% (51.3%) 0.6% 50.0% (48.5%) 3.1% 61.1% (65.8%) 7.1%
Total Raised £13M (£9M) 41.7% £11M (£7M) 51.0% £3M (£2M) 11.8%

ScotlandScotland

January 2018 to March 2018 Total Residential Commercial
Lots Offered 221 (272) 18.8% 153 (172) 11.0% 68 (100) 32.0%
Lots Sold 142 (198) 28.3% 90 (108) 16.7% 52 (90) 42.2%
Percent Sold 64.3% (72.8%) 11.7% 58.8% (62.8%) 6.4% 76.5% (90.0%) 15.0%
Total Raised £18M (£28M) 35.9% £6M (£7M) 4.0% £11M (£21M) 45.8%

South-East-Home-CountiesSouth-East Home Counties

January 2018 to March 2018 Total Residential Commercial
Lots Offered 1,014 (891) 13.8% 839 (741) 13.2% 175 (150) 16.7%
Lots Sold 772 (716) 7.8% 636 (592) 7.4% 136 (124) 9.7%
Percent Sold 76.1% (80.4%) 5.3% 75.8% (79.9%) 5.1% 77.7% (82.7%) 6.0%
Total Raised £182M (£195M) 6.7% £134M (£136M) 1.3% £48M (£59M) 18.9%

South-WestSouth-West

January 2018 to March 2018 Total Residential Commercial
Lots Offered 449 (383) 17.2% 318 (272) 16.9% 131 (111) 18.0%
Lots Sold 365 (300) 21.7% 251 (206) 21.8% 114 (94) 21.3%
Percent Sold 81.3% (78.3%) 3.8% 78.9% (75.7%) 4.2% 87.0% (84.7%) 2.7%
Total Raised £67M (£73M) 8.6% £48M (£42M) 14.2% £19M (£32M) 38.7%

WalesWales

January 2018 to March 2018 Total Residential Commercial
Lots Offered 405 (437) 7.3% 327 (346) 5.5% 78 (91) 14.3%
Lots Sold 292 (327) 10.7% 243 (260) 6.5% 49 (67) 26.9%
Percent Sold 72.1% (74.8%) 3.6% 74.3% (75.1%) 1.1% 62.8% (73.6%) 14.7%
Total Raised £27M (£28M) 3.6% £19M (£20M) 2.7% £8M (£8M) 5.8%

West-MidlandsWest Midlands

January 2018 to March 2018 Total Residential Commercial
Lots Offered 965 (698) 38.3% 858 (580) 47.9% 107 (118) 9.3%
Lots Sold 749 (559) 34.0% 668 (461) 44.9% 81 (98) 17.3%
Percent Sold 77.6% (80.1%) 3.1% 77.9% (79.5%) 2.0% 75.7% (83.1%) 8.9%
Total Raised £110M (£86M) 28.1% £82M (£54M) 52.1% £28M (£32M) 11.9%

Yorkshire-and-The-HumberYorkshire and The Humber

January 2018 to March 2018 Total Residential Commercial
Lots Offered 639 (699) 8.6% 530 (585) 9.4% 109 (114) 4.4%
Lots Sold 522 (562) 7.1% 434 (469) 7.5% 88 (93) 5.4%
Percent Sold 81.7% (80.4%) 1.6% 81.9% (80.2%) 2.1% 80.7% (81.6%) 1.1%
Total Raised £57M (£57M) 0.1% £38M (£42M) 9.6% £19M (£15M) 27.0%

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
davids@eigroup.co.uk

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