Essential Information Group

September 2018 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the September newsletter that looks back at auction activity in August and preceding periods. As is usually the case, a large portion of the industry took a break in August, with only 51 auctions held across the UK. The auctioneers that were active enjoyed a broadly successful month, with overall lots offered and sold up 18% and 20% respectively, and total raised increasing by almost 12% to £77M.

That being said, one swallow doesn't make a summer, and the notable falls witnessed in June and July are still prevailing as evidenced in the rolling quarterly figures. Let's hope that the industry returns with renewed confidence for the busy Autumn schedule ahead.

As ever I would welcome any comments or feedback you may have regarding the newsletter or indeed the wider market in general.

Please note the newsletter can also be viewed online.

Overall Statistics August 2018
Auctions Held in the UK 51
Total Lots Offered 1,031
Total Lots Sold 742
Percent Sold 72%
Total Realised £76,511,646

National Auction Analysis

The vast majority of the 1,031 lots offered last month were residential lots, and these saw increases of 21% on last year - from 801 to 970 lots. Residential sales climbed 24%, from 568 lots to 703 lots, whilst residential market revenues gained £10M on last year - a rise of 15%.

Only a handful of commercial lots went under the hammer last month, so no meaningful conclusions can be drawn from the commercial results shown below.

Overall

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

August 2018 June 2018 to August 2018 September 2017 to August 2018
Lots Offered 1,031 (876) 17.7% 6,745 (7,179) 6.0% 32,966 (32,628) 1.0%
Lots Sold 742 (620) 19.7% 4,880 (5,369) 9.1% 24,883 (24,983) 0.4%
Percent Sold 72.0% (70.8%) 1.7% 72.3% (74.8%) 3.3% 75.5% (76.6%) 1.4%
Total Raised £77M (£69M) 11.6% £763M (£868M) 12.1% £4,424M (£4,489M) 1.4%

Residential

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

August 2018 June 2018 to August 2018 September 2017 to August 2018
Lots Offered 970 (801) 21.1% 5,624 (6,061) 7.2% 27,563 (27,031) 2.0%
Lots Sold 703 (568) 23.8% 4,086 (4,507) 9.3% 20,717 (20,565) 0.7%
Percent Sold 72.5% (70.9%) 2.3% 72.7% (74.4%) 2.3% 75.2% (76.1%) 1.2%
Total Raised £74M (£64M) 14.6% £568M (£640M) 11.2% £3,138M (£3,120M) 0.6%

Commercial

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

August 2018 June 2018 to August 2018 September 2017 to August 2018
Lots Offered 61 (75) 18.7% 1,121 (1,118) 0.3% 5,403 (5,597) 3.5%
Lots Sold 39 (52) 25.0% 794 (862) 7.9% 4,166 (4,418) 5.7%
Percent Sold 63.9% (69.3%) 7.8% 70.8% (77.1%) 8.2% 77.1% (78.9%) 2.3%
Total Raised £3M (£4M) 33.2% £195M (£228M) 14.5% £1,286M (£1,369M) 6.0%

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

June 2018 to August 2018 Total Residential Commercial
Lots Offered 304 (232) 31.0% 255 (172) 48.3% 49 (60) 18.3%
Lots Sold 226 (186) 21.5% 189 (133) 42.1% 37 (53) 30.2%
Percent Sold 74.3% (80.2%) 7.4% 74.1% (77.3%) 4.1% 75.5% (88.3%) 14.5%
Total Raised £38M (£36M) 4.9% £31M (£25M) 24.9% £7M (£11M) 38.4%

East-MidlandsEast Midlands

June 2018 to August 2018 Total Residential Commercial
Lots Offered 547 (610) 10.3% 479 (518) 7.5% 68 (92) 26.1%
Lots Sold 413 (484) 14.7% 361 (411) 12.2% 52 (73) 28.8%
Percent Sold 75.5% (79.3%) 4.8% 75.4% (79.3%) 4.9% 76.5% (79.3%) 3.5%
Total Raised £56M (£65M) 15.0% £46M (£47M) 3.0% £10M (£18M) 45.8%

LondonLondon

June 2018 to August 2018 Total Residential Commercial
Lots Offered 353 (533) 33.8% 316 (483) 34.6% 37 (50) 26.0%
Lots Sold 251 (367) 31.6% 219 (325) 32.6% 32 (42) 23.8%
Percent Sold 71.1% (68.9%) 3.2% 69.3% (67.3%) 3.0% 86.5% (84.0%) 3.0%
Total Raised £99M (£157M) 37.3% £83M (£122M) 32.1% £16M (£35M) 55.3%

North-EastNorth-East

June 2018 to August 2018 Total Residential Commercial
Lots Offered 714 (714) 0.0% 675 (667) 1.2% 39 (47) 17.0%
Lots Sold 502 (562) 10.7% 481 (527) 8.7% 21 (35) 40.0%
Percent Sold 70.3% (78.7%) 10.7% 71.3% (79.0%) 9.7% 53.8% (74.5%) 27.8%
Total Raised £37M (£46M) 19.5% £32M (£40M) 20.0% £5M (£6M) 16.6%

North-WestNorth-West

June 2018 to August 2018 Total Residential Commercial
Lots Offered 1,009 (1,086) 7.1% 795 (917) 13.3% 214 (169) 26.6%
Lots Sold 732 (822) 10.9% 579 (698) 17.0% 153 (124) 23.4%
Percent Sold 72.5% (75.7%) 4.2% 72.8% (76.1%) 4.3% 71.5% (73.4%) 2.6%
Total Raised £82M (£87M) 4.9% £58M (£65M) 11.4% £25M (£21M) 14.7%

North-West-Home-CountiesNorth-West Home Counties

June 2018 to August 2018 Total Residential Commercial
Lots Offered 273 (317) 13.9% 213 (245) 13.1% 60 (72) 16.7%
Lots Sold 192 (241) 20.3% 154 (185) 16.8% 38 (56) 32.1%
Percent Sold 70.3% (76.0%) 7.5% 72.3% (75.5%) 4.2% 63.3% (77.8%) 18.6%
Total Raised £51M (£80M) 35.9% £32M (£41M) 21.5% £19M (£39M) 51.2%

Northern-IrelandNorthern Ireland

June 2018 to August 2018 Total Residential Commercial
Lots Offered 185 (228) 18.9% 172 (195) 11.8% 13 (33) 60.6%
Lots Sold 82 (117) 29.9% 78 (94) 17.0% 4 (23) 82.6%
Percent Sold 44.3% (51.3%) 13.6% 45.3% (48.2%) 6.0% 30.8% (69.7%) 55.8%
Total Raised £7M (£13M) 48.8% £6M (£10M) 35.7% £1M (£4M) 83.6%

ScotlandScotland

June 2018 to August 2018 Total Residential Commercial
Lots Offered 172 (202) 14.9% 134 (165) 18.8% 38 (37) 2.7%
Lots Sold 106 (125) 15.2% 86 (97) 11.3% 20 (28) 28.6%
Percent Sold 61.6% (61.9%) 0.5% 64.2% (58.8%) 9.2% 52.6% (75.7%) 30.5%
Total Raised £10M (£11M) 7.0% £6M (£5M) 6.4% £4M (£5M) 20.7%

South-East-Home-CountiesSouth-East Home Counties

June 2018 to August 2018 Total Residential Commercial
Lots Offered 877 (822) 6.7% 721 (675) 6.8% 156 (147) 6.1%
Lots Sold 623 (625) 0.3% 511 (503) 1.6% 112 (122) 8.2%
Percent Sold 71.0% (76.0%) 6.6% 70.9% (74.5%) 4.8% 71.8% (83.0%) 13.5%
Total Raised £148M (£142M) 4.2% £104M (£107M) 3.2% £44M (£35M) 27.0%

South-WestSouth-West

June 2018 to August 2018 Total Residential Commercial
Lots Offered 517 (418) 23.7% 359 (288) 24.7% 158 (130) 21.5%
Lots Sold 393 (304) 29.3% 272 (200) 36.0% 121 (104) 16.3%
Percent Sold 76.0% (72.7%) 4.5% 75.8% (69.4%) 9.2% 76.6% (80.0%) 4.3%
Total Raised £78M (£61M) 28.5% £52M (£41M) 26.0% £26M (£20M) 33.7%

WalesWales

June 2018 to August 2018 Total Residential Commercial
Lots Offered 519 (491) 5.7% 407 (400) 1.8% 112 (91) 23.1%
Lots Sold 379 (356) 6.5% 298 (296) 0.7% 81 (60) 35.0%
Percent Sold 73.0% (72.5%) 0.7% 73.2% (74.0%) 1.1% 72.3% (65.9%) 9.7%
Total Raised £38M (£35M) 9.8% £26M (£26M) 2.2% £13M (£9M) 46.4%

West-MidlandsWest Midlands

June 2018 to August 2018 Total Residential Commercial
Lots Offered 682 (834) 18.2% 583 (732) 20.4% 99 (102) 2.9%
Lots Sold 519 (642) 19.2% 451 (566) 20.3% 68 (76) 10.5%
Percent Sold 76.1% (77.0%) 1.2% 77.4% (77.3%) 0.1% 68.7% (74.5%) 7.8%
Total Raised £71M (£79M) 10.1% £56M (£66M) 16.1% £15M (£12M) 22.3%

Yorkshire-and-The-HumberYorkshire and The Humber

June 2018 to August 2018 Total Residential Commercial
Lots Offered 593 (692) 14.3% 515 (604) 14.7% 78 (88) 11.4%
Lots Sold 462 (538) 14.1% 407 (472) 13.8% 55 (66) 16.7%
Percent Sold 77.9% (77.7%) 0.3% 79.0% (78.1%) 1.2% 70.5% (75.0%) 6.0%
Total Raised £49M (£56M) 13.7% £38M (£44M) 14.2% £11M (£12M) 11.8%

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

Copyright © 2018 Essential Information Group