Essential Information Group

June 2018 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the June newsletter that looks back at auction activity in May and preceding periods. In last month's newsletter I reported on a disappointing set of auction results in April, so I am pleased to see that the market bounced back in May and made gains of 7.5% and 5.8% in lots offered and lots sold respectively. The overall amount raised fell slightly, down 2% to £507M, but this was largely caused by a fall in commercial revenues - more on this below.

As ever I would welcome any comments or feedback you have regarding the newsletter or indeed the wider market in general.
Overall Statistics May 2018
Auctions Held in the UK 122
Total Lots Offered 3,440
Total Lots Sold 2,563
Percent Sold 74.5%
Total Realised £506,559,407

National Auction Analysis

The residential auction sector performed particularly strongly in May, with a 10% rise in lots offered (2,560 to 2,806) and a 6% rise in lots sold (1,945 to 2,070). Residential revenues increased 5.4%, to £357M, which is a welcome return following the 12% losses seen in April.

It was a very busy month for the commercial market, as every major commercial auction house held an auction in May. Overall the market fared reasonably well, as despite a marginal fall in lots offered (down 0.8% to 634 lots) the volume of sales actually increased - up 3.4% to 493 lots. As has been the case for the last 6 months, the amount raised from commercial sales contracted and was down 16% to £150M (£179M in May 2017) - an unwanted trend which indicates a shift in the lot sizes being put under the hammer.

Overall

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

May 2018 March 2018 to May 2018 June 2017 to May 2018
Lots Offered 3,440 (3,199) 7.5% 8,482 (8,395) 1.0% 33,482 (33,798) 0.9%
Lots Sold 2,563 (2,422) 5.8% 6,260 (6,294) 0.5% 25,311 (25,538) 0.9%
Percent Sold 74.5% (75.7%) 1.6% 73.8% (75.0%) 1.6% 75.6% (75.6%) 0.0%
Total Raised £507M (£517M) 2.0% £1,123M (£1,156M) 2.8% £4,483M (£4,493M) 0.2%

Residential

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

May 2018 March 2018 to May 2018 June 2017 to May 2018
Lots Offered 2,806 (2,560) 9.6% 7,018 (6,867) 2.2% 28,067 (27,901) 0.6%
Lots Sold 2,070 (1,945) 6.4% 5,144 (5,148) 0.1% 21,104 (20,964) 0.7%
Percent Sold 73.8% (76.0%) 2.9% 73.3% (75.0%) 2.3% 75.2% (75.1%) 0.1%
Total Raised £357M (£338M) 5.4% £829M (£808M) 2.6% £3,203M (£3,182M) 0.7%

Commercial

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

May 2018 March 2018 to May 2018 June 2017 to May 2018
Lots Offered 634 (639) 0.8% 1,464 (1,528) 4.2% 5,415 (5,897) 8.2%
Lots Sold 493 (477) 3.4% 1,116 (1,146) 2.6% 4,207 (4,574) 8.0%
Percent Sold 77.8% (74.6%) 4.3% 76.2% (75.0%) 1.6% 77.7% (77.6%) 0.1%
Total Raised £150M (£179M) 16.1% £294M (£349M) 15.6% £1,280M (£1,311M) 2.3%

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

March 2018 to May 2018 Total Residential Commercial
Lots Offered 246 (268) 8.2% 200 (209) 4.3% 46 (59) 22.0%
Lots Sold 189 (225) 16.0% 148 (176) 15.9% 41 (49) 16.3%
Percent Sold 76.8% (84.0%) 8.6% 74.0% (84.2%) 12.1% 89.1% (83.1%) 7.2%
Total Raised £35M (£40M) 13.0% £24M (£28M) 12.8% £11M (£13M) 15.9%

East-MidlandsEast Midlands

March 2018 to May 2018 Total Residential Commercial
Lots Offered 600 (601) 0.2% 512 (500) 2.4% 88 (101) 12.9%
Lots Sold 454 (455) 0.2% 388 (385) 0.8% 66 (70) 5.7%
Percent Sold 75.7% (75.7%) 0.0% 75.8% (77.0%) 1.6% 75.0% (69.3%) 8.2%
Total Raised £68M (£70M) 2.7% £50M (£46M) 9.7% £18M (£24M) 26.1%

LondonLondon

March 2018 to May 2018 Total Residential Commercial
Lots Offered 625 (659) 5.2% 572 (585) 2.2% 53 (74) 28.4%
Lots Sold 444 (485) 8.5% 404 (424) 4.7% 40 (61) 34.4%
Percent Sold 71.0% (73.6%) 3.5% 70.6% (72.5%) 2.6% 75.5% (82.4%) 8.4%
Total Raised £245M (£229M) 6.9% £209M (£187M) 11.4% £36M (£42M) 13.6%

North-EastNorth-East

March 2018 to May 2018 Total Residential Commercial
Lots Offered 740 (770) 3.9% 687 (702) 2.1% 53 (68) 22.1%
Lots Sold 540 (579) 6.7% 505 (529) 4.5% 35 (50) 30.0%
Percent Sold 73.0% (75.2%) 2.9% 73.5% (75.4%) 2.5% 66.0% (73.5%) 10.2%
Total Raised £42M (£49M) 14.1% £36M (£37M) 3.3% £6M (£12M) 47.7%

North-WestNorth-West

March 2018 to May 2018 Total Residential Commercial
Lots Offered 1,393 (1,277) 9.1% 1,151 (1,051) 9.5% 242 (226) 7.1%
Lots Sold 1,012 (948) 6.8% 820 (792) 3.5% 192 (156) 23.1%
Percent Sold 72.6% (74.2%) 2.2% 71.2% (75.4%) 5.6% 79.3% (69.0%) 14.9%
Total Raised £110M (£109M) 0.5% £76M (£71M) 7.2% £33M (£38M) 11.9%

North-West-Home-CountiesNorth-West Home Counties

March 2018 to May 2018 Total Residential Commercial
Lots Offered 399 (355) 12.4% 326 (288) 13.2% 73 (67) 9.0%
Lots Sold 297 (286) 3.8% 241 (234) 3.0% 56 (52) 7.7%
Percent Sold 74.4% (80.6%) 7.7% 73.9% (81.3%) 9.1% 76.7% (77.6%) 1.2%
Total Raised £83M (£92M) 9.6% £61M (£63M) 3.0% £22M (£29M) 23.3%

Northern-IrelandNorthern Ireland

March 2018 to May 2018 Total Residential Commercial
Lots Offered 264 (241) 9.5% 230 (293) 21.5% 34 (64) 46.9%
Lots Sold 128 (116) 10.3% 109 (155) 29.7% 19 (39) 51.3%
Percent Sold 48.5% (48.1%) 0.8% 47.4% (52.9%) 10.4% 55.9% (60.9%) 8.2%
Total Raised £13M (£11M) 14.6% £11M (£17M) 37.2% £2M (£5M) 57.2%

ScotlandScotland

March 2018 to May 2018 Total Residential Commercial
Lots Offered 257 (291) 11.7% 164 (186) 11.8% 93 (105) 11.4%
Lots Sold 173 (180) 3.9% 105 (97) 8.2% 68 (83) 18.1%
Percent Sold 67.3% (61.9%) 8.7% 64.0% (52.2%) 22.6% 73.1% (79.0%) 7.5%
Total Raised £20M (£26M) 22.7% £8M (£5M) 58.8% £12M (£21M) 43.9%

South-East-Home-CountiesSouth-East Home Counties

March 2018 to May 2018 Total Residential Commercial
Lots Offered 1,089 (996) 9.3% 897 (813) 10.3% 192 (183) 4.9%
Lots Sold 807 (803) 0.5% 666 (652) 2.1% 141 (151) 6.6%
Percent Sold 74.1% (80.6%) 8.1% 74.2% (80.2%) 7.5% 73.4% (82.5%) 11.0%
Total Raised £197M (£200M) 1.7% £138M (£141M) 2.0% £59M (£60M) 1.2%

South-WestSouth-West

March 2018 to May 2018 Total Residential Commercial
Lots Offered 598 (603) 0.8% 398 (427) 6.8% 200 (176) 13.6%
Lots Sold 474 (453) 4.6% 306 (316) 3.2% 168 (137) 22.6%
Percent Sold 79.3% (71.5%) 10.9% 76.9% (74.0%) 3.9% 84.0% (77.8%) 8.0%
Total Raised £83M (£100M) 17.0% £57M (£64M) 11.2% £26M (£35M) 26.7%

WalesWales

March 2018 to May 2018 Total Residential Commercial
Lots Offered 475 (553) 14.1% 365 (435) 16.1% 110 (118) 6.8%
Lots Sold 354 (405) 12.6% 272 (322) 15.5% 82 (83) 1.2%
Percent Sold 74.5% (73.2%) 1.8% 74.5% (74.0%) 0.7% 74.5% (70.3%) 6.0%
Total Raised £34M (£38M) 10.4% £24M (£27M) 11.3% £10M (£11M) 7.0%

West-MidlandsWest Midlands

March 2018 to May 2018 Total Residential Commercial
Lots Offered 1,100 (889) 23.7% 935 (733) 27.6% 165 (156) 5.8%
Lots Sold 852 (674) 26.4% 728 (559) 30.2% 124 (115) 7.8%
Percent Sold 77.5% (75.8%) 2.2% 77.9% (76.3%) 2.1% 75.2% (73.7%) 2.0%
Total Raised £129M (£104M) 24.2% £93M (£71M) 29.7% £37M (£33M) 12.3%

Yorkshire-and-The-HumberYorkshire and The Humber

March 2018 to May 2018 Total Residential Commercial
Lots Offered 696 (776) 10.3% 581 (645) 9.9% 115 (131) 12.2%
Lots Sold 536 (607) 11.7% 452 (507) 10.8% 84 (100) 16.0%
Percent Sold 77.0% (78.2%) 1.5% 77.8% (78.6%) 1.0% 73.0% (76.3%) 4.3%
Total Raised £65M (£76M) 15.0% £43M (£51M) 15.1% £22M (£26M) 15.6%

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
davids@eigroup.co.uk

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