Essential Information Group

November 2018 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the November newsletter that looks back at auction activity in October and preceding periods. Once again we see numbers down on last year, with lots offered down 5.6% in October to 3,437 lots and lots sold down 8.6% to 2,487 lots. The total amount raised has also been declining in recent times, with recorded falls of £97M, £167M and £477M in the last month, 3 months and 12 months respectively.

A glance through the regional results shows that all but 1 of the 13 regions has seen a fall in auction sales in the last 3 months, when compared to the same period last year. Whilst most auctioneers are still maintaining sale rates between 70-75%, there is no denying that the entire property market is feeling the squeeze, as reading press reports it would suggest that the private treaty market is in the same place.

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 October 2018
Auctions Held in the UK 117
Total Lots Offered 3,437
Total Lots Sold 2,487
Percent Sold 72.4%
Total Realised £481,252,178

National Auction Analysis

The residential market saw lots offered fall from 2,788 lots in October 17 to 2,687 lots in October 18, a 3.6% drop, whilst total residential revenues fell by 7.3% to £275.1M. In the same period the commercial market saw a 12.2% drop in lots offered, from 854 lots to 750 lots, but commercial revenues fell by an alarming 26.6%, to £206.2M.

Overall

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

October 2018 August 2018 to October 2018 November 2017 to October 2018
Lots Offered 3,437 (3,642) 5.6% 7,901 (8,371) 5.6% 31,818 (33,242) 4.3%
Lots Sold 2,487 (2,721) 8.6% 5,670 (6,249) 9.3% 23,515 (25,448) 7.6%
Percent Sold 72.4% (74.7%) 3.1% 71.8% (74.7%) 3.9% 73.9% (76.6%) 3.5%
Total Raised £481.3M (£577.9M) 16.7% £938.9M (£1,105.4M) 15.1% £4,146.7M (£4,623.3M) 10.3%

Residential

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

October 2018 August 2018 to October 2018 November 2017 to October 2018
Lots Offered 2,687 (2,788) 3.6% 6,650 (6,996) 4.9% 26,529 (27,700) 4.2%
Lots Sold 1,927 (2,044) 5.7% 4,775 (5,196) 8.1% 19,531 (21,081) 7.4%
Percent Sold 71.7% (73.3%) 2.2% 71.8% (74.3%) 3.4% 73.6% (76.1%) 3.3%
Total Raised £275.1M (£296.9M) 7.3% £691.4M (£771.6M) 10.4% £2,983.6M (£3,227.9M) 7.6%

Commercial

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

October 2018 August 2018 to October 2018 November 2017 to October 2018
Lots Offered 750 (854) 12.2% 1,251 (1,375) 9.0% 5,289 (5,542) 4.6%
Lots Sold 560 (677) 17.3% 895 (1,053) 15.0% 3,984 (4,367) 8.8%
Percent Sold 74.7% (79.3%) 5.8% 71.5% (76.6%) 6.7% 75.3% (78.8%) 4.4%
Total Raised £206.2M (£281.1M) 26.6% £247.6M (£333.8M) 25.8% £1,163.1M (£1,395.4M) 16.6%

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

August 2018 to October 2018 Total Residential Commercial
Lots Offered 307 (309) 0.6% 256 (233) 9.9% 51 (76) 32.9%
Lots Sold 223 (227) 1.8% 180 (165) 9.1% 43 (62) 30.6%
Percent Sold 72.6% (73.5%) 1.2% 70.3% (70.8%) 0.7% 84.3% (81.6%) 3.3%
Total Raised £36.2M (£51.6M) 29.8% £27.1M (£26.1M) 3.8% £9.1M (£25.5M) 64.3%

East-MidlandsEast Midlands

August 2018 to October 2018 Total Residential Commercial
Lots Offered 577 (585) 1.4% 480 (483) 0.6% 97 (102) 4.9%
Lots Sold 432 (470) 8.1% 373 (387) 3.6% 59 (83) 28.9%
Percent Sold 74.9% (80.3%) 6.7% 77.7% (80.1%) 3.0% 60.8% (81.4%) 25.3%
Total Raised £63.6M (£72.2M) 11.9% £47.0M (£48.3M) 2.7% £16.6M (£23.8M) 30.5%

LondonLondon

August 2018 to October 2018 Total Residential Commercial
Lots Offered 428 (595) 28.1% 391 (532) 26.5% 37 (63) 41.3%
Lots Sold 303 (412) 26.5% 278 (363) 23.4% 25 (49) 49.0%
Percent Sold 70.8% (69.2%) 2.3% 71.1% (68.2%) 4.3% 67.6% (77.8%) 13.1%
Total Raised £146.7M (£195.7M) 25.1% £131.2M (£163.6M) 19.8% £15.4M (£32.1M) 51.8%

North-EastNorth-East

August 2018 to October 2018 Total Residential Commercial
Lots Offered 779 (746) 4.4% 721 (696) 3.6% 58 (50) 16.0%
Lots Sold 550 (562) 2.1% 513 (531) 3.4% 37 (31) 19.4%
Percent Sold 70.6% (75.3%) 6.2% 71.2% (76.3%) 6.7% 63.8% (62.0%) 2.9%
Total Raised £45.5M (£40.0M) 13.9% £34.3M (£35.0M) 2.1% £11.2M (£5.0M) 126.4%

North-WestNorth-West

August 2018 to October 2018 Total Residential Commercial
Lots Offered 1,285 (1,291) 0.5% 1,061 (1,098) 3.4% 224 (193) 16.1%
Lots Sold 906 (943) 3.9% 754 (797) 5.4% 152 (146) 4.1%
Percent Sold 70.5% (73.0%) 3.4% 71.1% (72.6%) 2.1% 67.9% (75.6%) 10.2%
Total Raised £92.0M (£91.5M) 0.6% £65.5M (£63.9M) 2.6% £26.5M (£27.6M) 3.9%

North-West-Home-CountiesNorth-West Home Counties

August 2018 to October 2018 Total Residential Commercial
Lots Offered 317 (331) 4.2% 268 (249) 7.6% 49 (82) 40.2%
Lots Sold 222 (241) 7.9% 184 (176) 4.5% 38 (65) 41.5%
Percent Sold 70.0% (72.8%) 3.8% 68.7% (70.7%) 2.8% 77.6% (79.3%) 2.1%
Total Raised £65.5M (£111.9M) 41.5% £44.2M (£67.1M) 34.1% £21.3M (£44.9M) 52.4%

Northern-IrelandNorthern Ireland

August 2018 to October 2018 Total Residential Commercial
Lots Offered 121 (304) 60.2% 114 (262) 56.5% 7 (42) 83.3%
Lots Sold 57 (167) 65.9% 56 (138) 59.4% 1 (29) 96.6%
Percent Sold 47.1% (54.9%) 14.2% 49.1% (52.7%) 6.8% 14.3% (69.0%) 79.3%
Total Raised £4.2M (£14.1M) 70.3% £4.2M (£11.4M) 63.3% £0.0M (£2.7M) 99.2%

ScotlandScotland

August 2018 to October 2018 Total Residential Commercial
Lots Offered 210 (237) 11.4% 152 (186) 18.3% 58 (51) 13.7%
Lots Sold 147 (154) 4.5% 100 (117) 14.5% 47 (37) 27.0%
Percent Sold 70.0% (65.0%) 7.7% 65.8% (62.9%) 4.6% 81.0% (72.5%) 11.7%
Total Raised £15.8M (£15.2M) 3.8% £7.3M (£5.8M) 25.8% £8.5M (£9.4M) 9.7%

South-East-Home-CountiesSouth-East Home Counties

August 2018 to October 2018 Total Residential Commercial
Lots Offered 908 (1,035) 12.3% 751 (854) 12.1% 157 (181) 13.3%
Lots Sold 635 (789) 19.5% 522 (643) 18.8% 113 (146) 22.6%
Percent Sold 69.9% (76.2%) 8.3% 69.5% (75.3%) 7.7% 72.0% (80.7%) 10.8%
Total Raised £149.8M (£185.2M) 19.1% £105.6M (£127.2M) 17.0% £44.3M (£58.0M) 23.7%

South-WestSouth-West

August 2018 to October 2018 Total Residential Commercial
Lots Offered 524 (517) 1.4% 360 (355) 1.4% 164 (162) 1.2%
Lots Sold 378 (377) 0.3% 249 (264) 5.7% 129 (113) 14.2%
Percent Sold 72.1% (72.9%) 1.1% 69.2% (74.4%) 7.0% 78.7% (69.8%) 12.8%
Total Raised £86.7M (£77.2M) 12.3% £53.2M (£53.6M) 0.9% £33.6M (£23.6M) 42.0%

WalesWales

August 2018 to October 2018 Total Residential Commercial
Lots Offered 576 (552) 4.3% 475 (450) 5.6% 101 (102) 1.0%
Lots Sold 395 (401) 1.5% 335 (331) 1.2% 60 (70) 14.3%
Percent Sold 68.6% (72.6%) 5.5% 70.5% (73.6%) 4.2% 59.4% (68.6%) 13.4%
Total Raised £40.6M (£39.5M) 2.8% £29.3M (£27.8M) 5.4% £11.3M (£11.7M) 3.4%

West-MidlandsWest Midlands

August 2018 to October 2018 Total Residential Commercial
Lots Offered 1,111 (1,024) 8.5% 970 (871) 11.4% 141 (153) 7.8%
Lots Sold 821 (825) 0.5% 715 (698) 2.4% 106 (127) 16.5%
Percent Sold 73.9% (80.6%) 8.3% 73.7% (80.1%) 8.0% 75.2% (83.0%) 9.4%
Total Raised £129.0M (£131.5M) 1.9% £93.6M (£89.6M) 4.4% £35.5M (£41.9M) 15.3%

Yorkshire-and-The-HumberYorkshire and The Humber

August 2018 to October 2018 Total Residential Commercial
Lots Offered 758 (845) 10.3% 651 (727) 10.5% 107 (118) 9.3%
Lots Sold 601 (681) 11.7% 516 (586) 11.9% 85 (95) 10.5%
Percent Sold 79.3% (80.6%) 1.6% 79.3% (80.6%) 1.6% 79.4% (80.5%) 1.4%
Total Raised £63.3M (£79.9M) 20.7% £49.0M (£52.2M) 6.2% £14.3M (£27.7M) 48.2%

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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