Essential Information Group

May 2018 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the May newsletter that looks back at auction activity in April and preceding periods. After an encouraging start to 2018, it appears that the market has just cooled slightly, as the monthly figures below show falls across every measurable metric.

Lots offered and lots sold were both down by 12% and 17% respectively, whilst the total raised fell £23M to £192M (-11%). Whether it's just seasonal variance, or increasing hesitation amongst buyers due to speculation around interest rate rises or the wider economic climate, one hopes that the falls are just an anomaly and do not become a trend.

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 April 2018
Auctions Held in the UK 109
Total Lots Offered 1,951
Total Lots Sold 1,373
Percent Sold 70.4%
Total Realised £191,569,177

National Auction Analysis

Notwithstanding the double-digit falls seen last month, the residential market has enjoyed relatively steady growth over the last 6-12 months, as illustrated by the 3% gains shown in lots offered, lots sold and amount raised in the rolling yearly figures.

In contrast, the commercial market has seen volumes reduce over the last 12 months; lots offered has decreased by 8% to 5,413 lots and lots sold by 9% to 4,207 lots. April's results continued that trend, although it should be noted that the sharp falls can be wholly attributed to variations seen in the catalogues of residential, regional auction houses, as none of the major commercial auctioneers held an auction last month.

Overall

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

April 2018 February 2018 to April 2018 May 2017 to April 2018
Lots Offered 1,951 (2,227) 12.4% 9,099 (8,965) 1.5% 33,216 (32,965) 0.8%
Lots Sold 1,373 (1,647) 16.6% 6,786 (6,839) 0.8% 25,224 (24,975) 1.0%
Percent Sold 70.4% (74.0%) 4.9% 74.6% (76.3%) 2.2% 75.9% (75.8%) 0.1%
Total Raised £192M (£215M) 10.8% £1,183M (£1,219M) 3.0% £4,535M (£4,458M) 1.7%

Residential

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

April 2018 February 2018 to April 2018 May 2017 to April 2018
Lots Offered 1,705 (1,901) 10.3% 7,645 (7,419) 3.0% 27,803 (27,093) 2.6%
Lots Sold 1,202 (1,417) 15.2% 5,693 (5,620) 1.3% 21,017 (20,349) 3.3%
Percent Sold 70.5% (74.5%) 5.4% 74.5% (75.8%) 1.7% 75.6% (75.1%) 0.7%
Total Raised £167M (£190M) 11.9% £900M (£878M) 2.5% £3,192M (£3,098M) 3.0%

Commercial

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

April 2018 February 2018 to April 2018 May 2017 to April 2018
Lots Offered 246 (326) 24.5% 1,454 (1,546) 6.0% 5,413 (5,872) 7.8%
Lots Sold 171 (230) 25.7% 1,093 (1,219) 10.3% 4,207 (4,626) 9.1%
Percent Sold 69.5% (70.6%) 1.6% 75.2% (78.8%) 4.6% 77.7% (78.8%) 1.4%
Total Raised £24M (£25M) 2.5% £282M (£341M) 17.1% £1,343M (£1,359M) 1.2%

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

February 2018 to April 2018 Total Residential Commercial
Lots Offered 321 (277) 15.9% 263 (216) 21.8% 58 (61) 4.9%
Lots Sold 242 (229) 5.7% 196 (178) 10.1% 46 (51) 9.8%
Percent Sold 75.4% (82.7%) 8.8% 74.5% (82.4%) 9.6% 79.3% (83.6%) 5.1%
Total Raised £40M (£39M) 1.7% £29M (£27M) 6.8% £11M (£13M) 9.3%

East-MidlandsEast Midlands

February 2018 to April 2018 Total Residential Commercial
Lots Offered 657 (698) 5.9% 561 (602) 6.8% 96 (96) 0.0%
Lots Sold 500 (553) 9.6% 428 (481) 11.0% 72 (72) 0.0%
Percent Sold 76.1% (79.2%) 3.9% 76.3% (79.9%) 4.5% 75.0% (75.0%) 0.0%
Total Raised £74M (£80M) 8.4% £53M (£55M) 4.1% £21M (£25M) 17.8%

LondonLondon

February 2018 to April 2018 Total Residential Commercial
Lots Offered 762 (778) 2.1% 697 (705) 1.1% 65 (73) 11.0%
Lots Sold 551 (585) 5.8% 504 (524) 3.8% 47 (61) 23.0%
Percent Sold 72.3% (75.2%) 3.9% 72.3% (74.3%) 2.7% 72.3% (83.6%) 13.5%
Total Raised £259M (£269M) 3.9% £221M (£237M) 6.9% £38M (£32M) 18.2%

North-EastNorth-East

February 2018 to April 2018 Total Residential Commercial
Lots Offered 693 (832) 16.7% 646 (774) 16.5% 47 (58) 19.0%
Lots Sold 515 (626) 17.7% 482 (586) 17.7% 33 (40) 17.5%
Percent Sold 74.3% (75.2%) 1.2% 74.6% (75.7%) 1.5% 70.2% (69.0%) 1.7%
Total Raised £36M (£48M) 24.1% £32M (£39M) 18.4% £4M (£9M) 50.2%

North-WestNorth-West

February 2018 to April 2018 Total Residential Commercial
Lots Offered 1,594 (1,533) 4.0% 1,307 (1,253) 4.3% 287 (280) 2.5%
Lots Sold 1,172 (1,152) 1.7% 965 (941) 2.6% 207 (211) 1.9%
Percent Sold 73.5% (75.1%) 2.1% 73.8% (75.1%) 1.7% 72.1% (75.4%) 4.4%
Total Raised £117M (£121M) 2.9% £84M (£78M) 7.6% £33M (£43M) 22.0%

North-West-Home-CountiesNorth-West Home Counties

February 2018 to April 2018 Total Residential Commercial
Lots Offered 455 (388) 17.3% 386 (322) 19.9% 69 (66) 4.5%
Lots Sold 320 (307) 4.2% 271 (250) 8.4% 49 (57) 14.0%
Percent Sold 70.3% (79.1%) 11.1% 70.2% (77.6%) 9.5% 71.0% (86.4%) 17.8%
Total Raised £108M (£102M) 5.2% £84M (£68M) 23.6% £24M (£35M) 30.6%

Northern-IrelandNorthern Ireland

February 2018 to April 2018 Total Residential Commercial
Lots Offered 255 (230) 10.9% 219 (193) 13.5% 36 (37) 2.7%
Lots Sold 127 (118) 7.6% 106 (93) 14.0% 21 (25) 16.0%
Percent Sold 49.8% (51.3%) 2.9% 48.4% (48.2%) 0.4% 58.3% (67.6%) 13.8%
Total Raised £13M (£9M) 38.6% £11M (£7M) 47.8% £2M (£2M) 9.8%

ScotlandScotland

February 2018 to April 2018 Total Residential Commercial
Lots Offered 227 (284) 20.1% 157 (186) 15.6% 70 (98) 28.6%
Lots Sold 146 (194) 24.7% 94 (107) 12.1% 52 (87) 40.2%
Percent Sold 64.3% (68.3%) 5.9% 59.9% (57.5%) 4.2% 74.3% (88.8%) 16.3%
Total Raised £19M (£27M) 32.4% £7M (£6M) 8.1% £12M (£21M) 44.4%

South-East-Home-CountiesSouth-East Home Counties

February 2018 to April 2018 Total Residential Commercial
Lots Offered 1,139 (988) 15.3% 951 (824) 15.4% 188 (164) 14.6%
Lots Sold 861 (789) 9.1% 715 (656) 9.0% 146 (133) 9.8%
Percent Sold 75.6% (79.9%) 5.4% 75.2% (79.6%) 5.5% 77.7% (81.1%) 4.2%
Total Raised £202M (£210M) 3.8% £149M (£149M) 0.2% £52M (£61M) 13.6%

South-WestSouth-West

February 2018 to April 2018 Total Residential Commercial
Lots Offered 609 (588) 3.6% 437 (421) 3.8% 172 (167) 3.0%
Lots Sold 497 (448) 10.9% 345 (317) 8.8% 152 (131) 16.0%
Percent Sold 81.6% (76.2%) 7.1% 78.9% (75.3%) 4.8% 88.4% (78.4%) 12.8%
Total Raised £91M (£100M) 9.2% £67M (£65M) 2.3% £24M (£35M) 30.8%

WalesWales

February 2018 to April 2018 Total Residential Commercial
Lots Offered 530 (620) 14.5% 420 (494) 15.0% 110 (126) 12.7%
Lots Sold 384 (460) 16.5% 312 (366) 14.8% 72 (94) 23.4%
Percent Sold 72.5% (74.2%) 2.3% 74.3% (74.1%) 0.3% 65.5% (74.6%) 12.2%
Total Raised £36M (£37M) 3.7% £26M (£27M) 2.2% £9M (£10M) 7.6%

West-MidlandsWest Midlands

February 2018 to April 2018 Total Residential Commercial
Lots Offered 1,088 (905) 20.2% 959 (744) 28.9% 129 (161) 19.9%
Lots Sold 857 (705) 21.6% 757 (576) 31.4% 100 (129) 22.5%
Percent Sold 78.8% (77.9%) 1.2% 78.9% (77.4%) 1.9% 77.5% (80.1%) 3.2%
Total Raised £124M (£105M) 18.4% £94M (£70M) 33.9% £31M (£35M) 12.6%

Yorkshire-and-The-HumberYorkshire and The Humber

February 2018 to April 2018 Total Residential Commercial
Lots Offered 769 (844) 8.9% 642 (685) 6.3% 127 (159) 20.1%
Lots Sold 614 (673) 8.8% 518 (545) 5.0% 96 (128) 25.0%
Percent Sold 79.8% (79.7%) 0.1% 80.7% (79.6%) 1.4% 75.6% (80.5%) 6.1%
Total Raised £65M (£70M) 7.6% £45M (£50M) 9.2% £20M (£20M) 3.9%

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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