Essential Information Group

October 2018 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the October newsletter that looks back at auction activity in September and preceding periods. In what is usually the busiest period in the auction calendar, last month saw only 144 auctions held across the UK - the fewest number recorded in September since 2006 (142).

This had an obvious and marked effect on the overall monthly results - lots offered were down 11% on September 2017 to 3,378 lots whilst lots sold saw an even larger drop - down 17% to 2,382 lots. Total auction revenues fell by almost 18% - an £80M drop in monetary terms and a stark realisation of the uncertain economic and political climate that the market is currently operating in.

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 September 2018
Auctions Held in the UK 144
Total Lots Offered 3,378
Total Lots Sold 2,382
Percent Sold 70.5%
Total Realised £371,148,571

National Auction Analysis

Residential lots offered and sold fell by 13% and 18% respectively last month, with residential revenues shrinking by over 17% to £334M. The notable monthly falls had a significant impact on the figures for Q3, with lots sold down 9% and amount raised down 11% on the same quarter last year.

The commercial sector saw a marginal increase in lots offered, from 422 to 437 lots, but 20 fewer lots sold resulting in a 67% sale rate. Commercial revenues also saw a major drop - down 21% to £37M, but as all the major London commercial auctioneers don’t hold their first Autumn auction until this month (October) we’ll get a more accurate account of the sector in next month’s newsletter.

Overall

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

September 2018 July 2018 to September 2018 October 2017 to September 2018
Lots Offered 3,378 (3,793) 10.9% 7,999 (8,332) 4.0% 32,417 (32,694) 0.8%
Lots Sold 2,382 (2,857) 16.6% 5,769 (6,323) 8.8% 24,212 (25,098) 3.5%
Percent Sold 70.5% (75.3%) 6.4% 72.1% (75.9%) 5.0% 74.7% (76.8%) 2.7%
Total Raised £371M (£451M) 17.7% £932M (£1,060M) 12.1% £4,326M (£4,529M) 4.5%

Residential

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

September 2018 July 2018 to September 2018 October 2017 to September 2018
Lots Offered 2,941 (3,371) 12.8% 6,756 (7,131) 5.3% 27,019 (27,185) 0.6%
Lots Sold 2,091 (2,546) 17.9% 4,905 (5,407) 9.3% 20,088 (20,734) 3.1%
Percent Sold 71.1% (75.5%) 5.8% 72.6% (75.8%) 4.2% 74.3% (76.3%) 2.6%
Total Raised £334M (£403M) 17.3% £726M (£817M) 11.1% £3,051M (£3,165M) 3.6%

Commercial

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

September 2018 July 2018 to September 2018 October 2017 to September 2018
Lots Offered 437 (422) 3.6% 1,243 (1,201) 3.5% 5,398 (5,509) 2.0%
Lots Sold 291 (311) 6.4% 864 (916) 5.7% 4,124 (4,364) 5.5%
Percent Sold 66.6% (73.7%) 9.6% 69.5% (76.3%) 8.9% 76.4% (79.2%) 3.5%
Total Raised £37M (£48M) 21.2% £206M (£244M) 15.5% £1,275M (£1,364M) 6.5%

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

July 2018 to September 2018 Total Residential Commercial
Lots Offered 268 (241) 11.2% 220 (188) 17.0% 48 (53) 9.4%
Lots Sold 196 (185) 5.9% 158 (141) 12.1% 38 (44) 13.6%
Percent Sold 73.1% (76.8%) 4.8% 71.8% (75.0%) 4.3% 79.2% (83.0%) 4.6%
Total Raised £34M (£37M) 10.2% £27M (£27M) 0.2% £7M (£11M) 35.6%

East-MidlandsEast Midlands

July 2018 to September 2018 Total Residential Commercial
Lots Offered 615 (713) 13.7% 525 (606) 13.4% 90 (107) 15.9%
Lots Sold 453 (562) 19.4% 397 (479) 17.1% 56 (83) 32.5%
Percent Sold 73.7% (78.8%) 6.5% 75.6% (79.0%) 4.3% 62.2% (77.6%) 19.8%
Total Raised £66M (£75M) 12.7% £53M (£54M) 3.1% £13M (£21M) 38.1%

LondonLondon

July 2018 to September 2018 Total Residential Commercial
Lots Offered 446 (636) 29.9% 404 (583) 30.7% 42 (53) 20.8%
Lots Sold 314 (448) 29.9% 281 (403) 30.3% 33 (45) 26.7%
Percent Sold 70.4% (70.4%) 0.0% 69.6% (69.1%) 0.7% 78.6% (84.9%) 7.4%
Total Raised £137M (£202M) 32.0% £122M (£165M) 25.6% £15M (£37M) 60.0%

North-EastNorth-East

July 2018 to September 2018 Total Residential Commercial
Lots Offered 768 (791) 2.9% 727 (738) 1.5% 41 (53) 22.6%
Lots Sold 526 (620) 15.2% 505 (581) 13.1% 21 (39) 46.2%
Percent Sold 68.5% (78.4%) 12.6% 69.5% (78.7%) 11.7% 51.2% (73.6%) 30.4%
Total Raised £39M (£45M) 14.3% £34M (£39M) 12.8% £5M (£6M) 24.0%

North-WestNorth-West

July 2018 to September 2018 Total Residential Commercial
Lots Offered 1,328 (1,433) 7.3% 1,108 (1,240) 10.6% 220 (193) 14.0%
Lots Sold 967 (1,068) 9.5% 815 (929) 12.3% 152 (139) 9.4%
Percent Sold 72.8% (74.5%) 2.3% 73.6% (74.9%) 1.7% 69.1% (72.0%) 4.0%
Total Raised £102M (£104M) 2.0% £77M (£81M) 4.3% £25M (£23M) 5.9%

North-West-Home-CountiesNorth-West Home Counties

July 2018 to September 2018 Total Residential Commercial
Lots Offered 303 (342) 11.4% 248 (265) 6.4% 55 (77) 28.6%
Lots Sold 213 (269) 20.8% 175 (209) 16.3% 38 (60) 36.7%
Percent Sold 70.3% (78.7%) 10.7% 70.6% (78.9%) 10.5% 69.1% (77.9%) 11.3%
Total Raised £67M (£120M) 44.6% £46M (£80M) 42.9% £21M (£40M) 47.8%

Northern-IrelandNorthern Ireland

July 2018 to September 2018 Total Residential Commercial
Lots Offered 126 (136) 7.4% 119 (128) 7.0% 7 (8) 12.5%
Lots Sold 62 (63) 1.6% 59 (60) 1.7% 3 (3) 0.0%
Percent Sold 49.2% (46.3%) 6.3% 49.6% (46.9%) 5.8% 42.9% (37.5%) 14.4%
Total Raised £5M (£6M) 20.8% £4M (£6M) 25.9% £1M (£0M) 86.1%

ScotlandScotland

July 2018 to September 2018 Total Residential Commercial
Lots Offered 133 (154) 13.6% 85 (113) 24.8% 48 (41) 17.1%
Lots Sold 85 (99) 14.1% 56 (71) 21.1% 29 (28) 3.6%
Percent Sold 63.9% (64.3%) 0.6% 65.9% (62.8%) 4.9% 60.4% (68.3%) 11.6%
Total Raised £11M (£9M) 15.4% £6M (£3M) 64.4% £5M (£6M) 13.9%

South-East-Home-CountiesSouth-East Home Counties

July 2018 to September 2018 Total Residential Commercial
Lots Offered 1,008 (951) 6.0% 843 (803) 5.0% 165 (148) 11.5%
Lots Sold 703 (710) 1.0% 595 (592) 0.5% 108 (118) 8.5%
Percent Sold 69.7% (74.7%) 6.7% 70.6% (73.7%) 4.2% 65.5% (79.7%) 17.8%
Total Raised £168M (£164M) 2.2% £125M (£127M) 2.0% £43M (£37M) 16.6%

South-WestSouth-West

July 2018 to September 2018 Total Residential Commercial
Lots Offered 651 (508) 28.1% 457 (365) 25.2% 194 (143) 35.7%
Lots Sold 471 (389) 21.1% 327 (280) 16.8% 144 (109) 32.1%
Percent Sold 72.4% (76.6%) 5.5% 71.6% (76.7%) 6.6% 74.2% (76.2%) 2.6%
Total Raised £98M (£82M) 19.6% £68M (£61M) 10.9% £30M (£21M) 44.9%

WalesWales

July 2018 to September 2018 Total Residential Commercial
Lots Offered 572 (518) 10.4% 451 (414) 8.9% 121 (104) 16.3%
Lots Sold 396 (380) 4.2% 316 (309) 2.3% 80 (71) 12.7%
Percent Sold 69.2% (73.4%) 5.7% 70.1% (74.6%) 6.0% 66.1% (68.3%) 3.2%
Total Raised £39M (£36M) 7.0% £27M (£27M) 1.7% £12M (£10M) 21.5%

West-MidlandsWest Midlands

July 2018 to September 2018 Total Residential Commercial
Lots Offered 992 (1,011) 1.9% 881 (897) 1.8% 111 (114) 2.6%
Lots Sold 755 (823) 8.3% 675 (729) 7.4% 80 (94) 14.9%
Percent Sold 76.1% (81.4%) 6.5% 76.6% (81.3%) 5.8% 72.1% (82.5%) 12.6%
Total Raised £105M (£106M) 1.5% £87M (£89M) 2.2% £17M (£17M) 2.2%

Yorkshire-and-The-HumberYorkshire and The Humber

July 2018 to September 2018 Total Residential Commercial
Lots Offered 789 (898) 12.1% 688 (791) 13.0% 101 (107) 5.6%
Lots Sold 628 (707) 11.2% 546 (624) 12.5% 82 (83) 1.2%
Percent Sold 79.6% (78.7%) 1.1% 79.4% (78.9%) 0.6% 81.2% (77.6%) 4.6%
Total Raised £63M (£72M) 12.7% £50M (£57M) 12.2% £13M (£15M) 14.4%

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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