Essential Information Group

February 2018 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the February newsletter that looks back at auction activity in January and preceding periods. Just 9 auctions were held across the UK last month, offering 430 lots (up 5%), selling 316 lots and raising £26M (down 15%).

Given the very small sample set it is difficult to draw any meaningful conclusions from the results. However, the quietest month in the auction calendar is now behind us and we're currently in the midst of one of the busiest. Around 4,000 lots are expected to go under the hammer in February so do look out for next month's newsletter which will provide a far more accurate account of today's market.

As ever I would welcome any comments or feedback you may have regarding the newsletter or indeed the wider market in general.
Overall Statistics January 2018
Auctions Held in the UK 9
Total Lots Offered 430
Total Lots Sold 316
Percent Sold 73.5%
Total Realised £26,474,459

National Auction Analysis

409 residential lots were offered in January - a 4% increase on last year (393), but the amount raised dropped by £5M to £25M (down 16%). There were no major commercial auctions held in January, so the 21 commercial lots offered were by regional, predominantly residential auctioneers.

The rolling yearly figures show very marginal falls in the number of residential lots offered and sold, but the sale rate averaged a very healthy 76.5% over that period. The commercial sector has seen a more marked drop in lots offered and sold over the last 12 months - down 6% and 5.9% respectively, however the sale rate has remained strong at 79.3% and the amount raised largely comparable.

Overall

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

January 2018 November 2017 to January 2018 February 2017 to January 2018
Lots Offered 430 (408) 5.4% 6,089 (6,376) 4.5% 33,070 (33,793) 2.1%
Lots Sold 316 (315) 0.3% 4,560 (4,807) 5.1% 25,447 (25,795) 1.3%
Percent Sold 73.5% (77.2%) 4.8% 74.9% (75.4%) 0.7% 76.9% (76.3%) 0.8%
Total Raised £26M (£31M) 14.6% £768M (£858M) 10.5% £4,641M (£4,689M) 1.0%

Residential

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

January 2018 November 2017 to January 2018 February 2017 to January 2018
Lots Offered 409 (393) 4.1% 5,219 (5,439) 4.0% 27,566 (27,940) 1.3%
Lots Sold 300 (303) 1.0% 3,906 (4,068) 4.0% 21,083 (21,158) 0.4%
Percent Sold 73.3% (77.1%) 4.9% 74.8% (74.8%) 0.0% 76.5% (75.7%) 1.1%
Total Raised £25M (£30M) 15.5% £553M (£618M) 10.5% £3,196M (£3,238M) 1.3%

Commercial

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

January 2018 November 2017 to January 2018 February 2017 to January 2018
Lots Offered 21 (15) 40.0% 870 (937) 7.2% 5,504 (5,853) 6.0%
Lots Sold 16 (12) 33.3% 654 (739) 11.5% 4,364 (4,637) 5.9%
Percent Sold 76.2% (80.0%) 4.8% 75.2% (78.9%) 4.7% 79.3% (79.2%) 0.1%
Total Raised £1M (£1M) 8.8% £215M (£240M) 10.7% £1,445M (£1,450M) 0.4%

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

November 2017 to January 2018 Total Residential Commercial
Lots Offered 169 (201) 15.9% 132 (161) 18.0% 37 (40) 7.5%
Lots Sold 141 (152) 7.2% 107 (120) 10.8% 34 (32) 6.3%
Percent Sold 83.4% (75.6%) 10.3% 81.1% (74.5%) 8.9% 91.9% (80.0%) 14.9%
Total Raised £28M (£29M) 0.8% £16M (£18M) 15.2% £13M (£10M) 24.8%

East-MidlandsEast Midlands

November 2017 to January 2018 Total Residential Commercial
Lots Offered 464 (477) 2.7% 392 (413) 5.1% 72 (64) 12.5%
Lots Sold 367 (349) 5.2% 310 (296) 4.7% 57 (53) 7.5%
Percent Sold 79.1% (73.2%) 8.1% 79.1% (71.7%) 10.3% 79.2% (82.8%) 4.3%
Total Raised £54M (£48M) 12.4% £38M (£32M) 20.2% £15M (£16M) 3.2%

LondonLondon

November 2017 to January 2018 Total Residential Commercial
Lots Offered 476 (627) 24.1% 441 (590) 25.3% 35 (37) 5.4%
Lots Sold 340 (441) 22.9% 315 (411) 23.4% 25 (30) 16.7%
Percent Sold 71.4% (70.3%) 1.6% 71.4% (69.7%) 2.4% 71.4% (81.1%) 12.0%
Total Raised £141M (£216M) 34.5% £121M (£178M) 32.0% £20M (£37M) 46.6%

North-EastNorth-East

November 2017 to January 2018 Total Residential Commercial
Lots Offered 771 (638) 20.8% 732 (595) 23.0% 39 (43) 9.3%
Lots Sold 578 (474) 21.9% 550 (444) 23.9% 28 (30) 6.7%
Percent Sold 75.0% (74.3%) 0.9% 75.1% (74.6%) 0.7% 71.8% (69.8%) 2.9%
Total Raised £43M (£38M) 13.1% £40M (£31M) 27.0% £4M (£7M) 48.5%

North-WestNorth-West

November 2017 to January 2018 Total Residential Commercial
Lots Offered 1,024 (983) 4.2% 906 (823) 10.1% 118 (160) 26.3%
Lots Sold 728 (744) 2.2% 650 (622) 4.5% 78 (122) 36.1%
Percent Sold 71.1% (75.7%) 6.1% 71.7% (75.6%) 5.2% 66.1% (76.3%) 13.4%
Total Raised £68M (£79M) 13.8% £51M (£53M) 3.1% £17M (£26M) 35.5%

North-West-Home-CountiesNorth-West Home Counties

November 2017 to January 2018 Total Residential Commercial
Lots Offered 261 (265) 1.5% 216 (217) 0.5% 45 (48) 6.3%
Lots Sold 211 (219) 3.7% 173 (175) 1.1% 38 (44) 13.6%
Percent Sold 80.8% (82.6%) 2.2% 80.1% (80.6%) 0.6% 84.4% (91.7%) 8.0%
Total Raised £65M (£74M) 11.5% £41M (£51M) 19.3% £24M (£23M) 5.8%

Northern-IrelandNorthern Ireland

November 2017 to January 2018 Total Residential Commercial
Lots Offered 133 (195) 31.8% 119 (153) 22.2% 14 (42) 66.7%
Lots Sold 69 (130) 46.9% 65 (95) 31.6% 4 (35) 88.6%
Percent Sold 51.9% (66.7%) 22.2% 54.6% (62.1%) 12.1% 28.6% (83.3%) 65.7%
Total Raised £5M (£10M) 52.9% £5M (£7M) 29.7% £0M (£4M) 97.7%

ScotlandScotland

November 2017 to January 2018 Total Residential Commercial
Lots Offered 215 (212) 1.4% 144 (146) 1.4% 71 (66) 7.6%
Lots Sold 124 (138) 10.1% 74 (84) 11.9% 50 (54) 7.4%
Percent Sold 57.7% (65.1%) 11.4% 51.4% (57.5%) 10.6% 70.4% (81.8%) 13.9%
Total Raised £17M (£15M) 12.7% £4M (£5M) 19.9% £13M (£10M) 27.8%

South-East-Home-CountiesSouth-East Home Counties

November 2017 to January 2018 Total Residential Commercial
Lots Offered 733 (697) 5.2% 624 (568) 9.9% 109 (129) 15.5%
Lots Sold 558 (539) 3.5% 476 (437) 8.9% 82 (102) 19.6%
Percent Sold 76.1% (77.3%) 1.6% 76.3% (76.9%) 0.8% 75.2% (79.1%) 4.9%
Total Raised £136M (£140M) 2.7% £97M (£88M) 9.8% £39M (£52M) 24.0%

South-WestSouth-West

November 2017 to January 2018 Total Residential Commercial
Lots Offered 414 (396) 4.5% 303 (307) 1.3% 111 (89) 24.7%
Lots Sold 334 (304) 9.9% 241 (240) 0.4% 93 (64) 45.3%
Percent Sold 80.7% (76.8%) 5.1% 79.5% (78.2%) 1.7% 83.8% (71.9%) 16.6%
Total Raised £71M (£60M) 18.9% £49M (£46M) 7.6% £22M (£14M) 54.7%

WalesWales

November 2017 to January 2018 Total Residential Commercial
Lots Offered 318 (311) 2.3% 251 (261) 3.8% 67 (50) 34.0%
Lots Sold 238 (234) 1.7% 186 (200) 7.0% 52 (34) 52.9%
Percent Sold 74.8% (75.2%) 0.5% 74.1% (76.6%) 3.3% 77.6% (68.0%) 14.1%
Total Raised £28M (£21M) 31.2% £16M (£14M) 13.7% £12M (£7M) 66.2%

West-MidlandsWest Midlands

November 2017 to January 2018 Total Residential Commercial
Lots Offered 608 (731) 16.8% 541 (634) 14.7% 67 (97) 30.9%
Lots Sold 485 (579) 16.2% 432 (502) 13.9% 53 (77) 31.2%
Percent Sold 79.8% (79.2%) 0.8% 79.9% (79.2%) 0.9% 79.1% (79.4%) 0.4%
Total Raised £62M (£75M) 17.3% £45M (£56M) 18.4% £17M (£19M) 14.1%

Yorkshire-and-The-HumberYorkshire and The Humber

November 2017 to January 2018 Total Residential Commercial
Lots Offered 503 (643) 21.8% 418 (571) 26.8% 85 (72) 18.1%
Lots Sold 387 (504) 23.2% 327 (442) 26.0% 60 (62) 3.2%
Percent Sold 76.9% (78.4%) 1.9% 78.2% (77.4%) 1.0% 70.6% (86.1%) 18.0%
Total Raised £48M (£53M) 9.6% £29M (£39M) 23.8% £19M (£14M) 28.6%

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

Copyright © 2018 Essential Information Group