Essential Information Group

January 2018 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the first newsletter of 2018 that looks back at auction activity in December and preceding periods. 2017 was very much a year of two halves. In the first half auction sales fell by 5% and revenues by 7% when compared to H1 2016. This can be largely attributed to the huge, unprecedented spike in sales we witnessed in early 2016, when buyers rushed to beat the impending stamp duty changes that saw new surcharges introduced for buy-to-let and second home purchases.

In the second half of 2017 we saw the negatives turn into positives. Despite the marginal falls of 1% seen in lots offered, lots sold and amount raised in December, the quarterly figures show a 3% gain in amount raised to £1.351bn. Furthermore, our figures for the whole of H2 show an overall rise of 2.1% in lots sold and 6.2% in amount raised - all against a backdrop of Brexit uncertainty and political turmoil following the general election result!

As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general, and may I take this opportunity to wish you a happy and prosperous New Year!
Overall Statistics December 2017
Auctions Held in the UK 116
Total Lots Offered 3,698
Total Lots Sold 2,797
Percent Sold 75.6%
Total Realised £529,799,253

National Auction Analysis

There has been a stark contrast in recent results between the two sectors. Residential sales grew by 3.3% in December, to 3,338 lots, with a total sales value exceeding £340M (up 6.2% on December 2016).

Conversely, the number of commercial lots sold fell 19% in December, from 567 lots to 459 lots. Commercial revenue totalled £190M - down 12% on December 2016, but despite this fall the quarterly revenue total still increased by 8.5% to £529M - an indication of bigger lot sizes and the strong prices achieved during September and October.

Overall

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

December 2017 October 2017 to December 2017 January 2017 to December 2017
Lots Offered 3,698 (3,745) 1.3% 9,263 (9,115) 1.6% 32,987 (33,855) 2.6%
Lots Sold 2,797 (2,830) 1.2% 6,964 (6,874) 1.3% 25,376 (25,799) 1.6%
Percent Sold 75.6% (75.6%) 0.0% 75.2% (75.4%) 0.3% 76.9% (76.2%) 0.9%
Total Raised £530M (£537M) 1.3% £1,351M (£1,314M) 2.8% £4,633M (£4,685M) 1.1%

Residential

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

December 2017 October 2017 to December 2017 January 2017 to December 2017
Lots Offered 3,078 (3,030) 1.6% 7,560 (7,351) 2.8% 27,494 (28,002) 1.8%
Lots Sold 2,338 (2,263) 3.3% 5,632 (5,471) 2.9% 21,024 (21,173) 0.7%
Percent Sold 76.0% (74.7%) 1.7% 74.5% (74.4%) 0.1% 76.5% (75.6%) 1.2%
Total Raised £340M (£320M) 6.2% £822M (£826M) 0.5% £3,190M (£3,236M) 1.4%

Commercial

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

December 2017 October 2017 to December 2017 January 2017 to December 2017
Lots Offered 620 (715) 13.3% 1,703 (1,764) 3.5% 5,493 (5,853) 6.2%
Lots Sold 459 (567) 19.0% 1,332 (1,403) 5.1% 4,352 (4,626) 5.9%
Percent Sold 74.0% (79.3%) 6.7% 78.2% (79.5%) 1.6% 79.2% (79.0%) 0.3%
Total Raised £190M (£217M) 12.4% £529M (£488M) 8.5% £1,442M (£1,449M) 0.5%

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

October 2017 to December 2017 Total Residential Commercial
Lots Offered 333 (309) 7.8% 247 (222) 11.3% 86 (87) 1.1%
Lots Sold 259 (247) 4.9% 183 (173) 5.8% 76 (74) 2.7%
Percent Sold 77.8% (79.9%) 2.6% 74.1% (77.9%) 4.9% 88.4% (85.1%) 3.9%
Total Raised £64M (£51M) 24.4% £25M (£27M) 5.4% £38M (£24M) 57.4%

East-MidlandsEast Midlands

October 2017 to December 2017 Total Residential Commercial
Lots Offered 600 (709) 15.4% 488 (601) 18.8% 112 (108) 3.7%
Lots Sold 475 (532) 10.7% 385 (444) 13.3% 90 (88) 2.3%
Percent Sold 79.2% (75.0%) 5.6% 78.9% (73.9%) 6.8% 80.4% (81.5%) 1.3%
Total Raised £84M (£73M) 14.6% £51M (£47M) 8.1% £33M (£26M) 26.6%

LondonLondon

October 2017 to December 2017 Total Residential Commercial
Lots Offered 765 (801) 4.5% 675 (732) 7.8% 90 (69) 30.4%
Lots Sold 537 (574) 6.4% 468 (516) 9.3% 69 (58) 19.0%
Percent Sold 70.2% (71.7%) 2.1% 69.3% (70.5%) 1.7% 76.7% (84.1%) 8.8%
Total Raised £254M (£283M) 10.4% £194M (£223M) 13.1% £60M (£60M) 0.3%

North-EastNorth-East

October 2017 to December 2017 Total Residential Commercial
Lots Offered 772 (831) 7.1% 712 (746) 4.6% 60 (85) 29.4%
Lots Sold 569 (623) 8.7% 526 (560) 6.1% 43 (63) 31.7%
Percent Sold 73.7% (75.0%) 1.7% 73.9% (75.1%) 1.6% 71.7% (74.1%) 3.2%
Total Raised £49M (£54M) 10.8% £38M (£38M) 1.1% £11M (£16M) 33.4%

North-WestNorth-West

October 2017 to December 2017 Total Residential Commercial
Lots Offered 1,513 (1,379) 9.7% 1,287 (1,099) 17.1% 226 (280) 19.3%
Lots Sold 1,093 (1,015) 7.7% 929 (807) 15.1% 164 (208) 21.2%
Percent Sold 72.2% (73.6%) 1.9% 72.2% (73.4%) 1.6% 72.6% (74.3%) 2.3%
Total Raised £113M (£125M) 9.1% £73M (£67M) 8.6% £40M (£57M) 29.8%

North-West-Home-CountiesNorth-West Home Counties

October 2017 to December 2017 Total Residential Commercial
Lots Offered 427 (424) 0.7% 314 (302) 4.0% 113 (122) 7.4%
Lots Sold 327 (354) 7.6% 233 (242) 3.7% 94 (112) 16.1%
Percent Sold 76.6% (83.5%) 8.3% 74.2% (80.1%) 7.4% 83.2% (91.8%) 9.4%
Total Raised £127M (£120M) 5.6% £55M (£66M) 15.5% £71M (£54M) 31.1%

Northern-IrelandNorthern Ireland

October 2017 to December 2017 Total Residential Commercial
Lots Offered 309 (281) 10.0% 258 (231) 11.7% 51 (50) 2.0%
Lots Sold 180 (166) 8.4% 148 (129) 14.7% 32 (37) 13.5%
Percent Sold 58.3% (59.1%) 1.4% 57.4% (55.8%) 2.9% 62.7% (74.0%) 15.3%
Total Raised £15M (£14M) 12.4% £13M (£10M) 27.8% £3M (£4M) 27.3%

ScotlandScotland

October 2017 to December 2017 Total Residential Commercial
Lots Offered 310 (278) 11.5% 214 (190) 12.6% 96 (88) 9.1%
Lots Sold 196 (179) 9.5% 123 (108) 13.9% 73 (71) 2.8%
Percent Sold 63.2% (64.4%) 1.9% 57.5% (56.8%) 1.2% 76.0% (80.7%) 5.8%
Total Raised £28M (£23M) 18.1% £6M (£7M) 4.4% £21M (£17M) 27.2%

South-East-Home-CountiesSouth-East Home Counties

October 2017 to December 2017 Total Residential Commercial
Lots Offered 1,235 (1,078) 14.6% 988 (820) 20.5% 247 (258) 4.3%
Lots Sold 959 (831) 15.4% 762 (622) 22.5% 197 (209) 5.7%
Percent Sold 77.7% (77.1%) 0.8% 77.1% (75.9%) 1.6% 79.8% (81.0%) 1.5%
Total Raised £239M (£223M) 6.9% £146M (£128M) 13.8% £93M (£95M) 2.3%

South-WestSouth-West

October 2017 to December 2017 Total Residential Commercial
Lots Offered 598 (564) 6.0% 410 (384) 6.8% 188 (180) 4.4%
Lots Sold 476 (446) 6.7% 320 (302) 6.0% 156 (144) 8.3%
Percent Sold 79.6% (79.1%) 0.6% 78.0% (78.6%) 0.8% 83.0% (80.0%) 3.8%
Total Raised £105M (£101M) 4.2% £64M (£60M) 6.6% £41M (£41M) 0.6%

WalesWales

October 2017 to December 2017 Total Residential Commercial
Lots Offered 568 (535) 6.2% 445 (418) 6.5% 123 (117) 5.1%
Lots Sold 419 (396) 5.8% 330 (314) 5.1% 89 (82) 8.5%
Percent Sold 73.8% (74.0%) 0.3% 74.2% (75.1%) 1.2% 72.4% (70.1%) 3.3%
Total Raised £48M (£41M) 19.3% £27M (£25M) 9.3% £21M (£16M) 35.1%

West-MidlandsWest Midlands

October 2017 to December 2017 Total Residential Commercial
Lots Offered 1,006 (994) 1.2% 850 (817) 4.0% 156 (177) 11.9%
Lots Sold 819 (786) 4.2% 692 (643) 7.6% 127 (143) 11.2%
Percent Sold 81.4% (79.1%) 2.9% 81.4% (78.7%) 3.4% 81.4% (80.8%) 0.7%
Total Raised £135M (£118M) 14.4% £82M (£76M) 8.7% £52M (£42M) 24.6%

Yorkshire-and-The-HumberYorkshire and The Humber

October 2017 to December 2017 Total Residential Commercial
Lots Offered 827 (932) 11.3% 672 (789) 14.8% 155 (143) 8.4%
Lots Sold 655 (725) 9.7% 533 (611) 12.8% 122 (114) 7.0%
Percent Sold 79.2% (77.8%) 1.8% 79.3% (77.4%) 2.5% 78.7% (79.7%) 1.3%
Total Raised £92M (£88M) 4.0% £47M (£53M) 10.9% £45M (£35M) 26.3%

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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