Essential Information Group

April 2019 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the April newsletter that looks back at auction activity in March and preceding periods. Only 79 auctions were held across the UK last month, 37 fewer than the 116 auctions held in March 2018. This helps to account for the notable fall seen in lots offered and lots sold last month - both down 28% on last year, whilst the overall amount raised shrunk by a third - £137M in monetary terms.

As another Brexit delay looms over us all, it's likely that the entire property market, through no fault of its own, will remain under pressure for some time to come.

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 March 2019
Auctions Held in the UK 82
Total Lots Offered 2,236
Total Lots Sold 1,636
Percent Sold 73.2%
Total Realised £279,217,788

National Auction Analysis

The number of residential lots offered and sold dropped by 22% in March, whilst residential auction receipts were down almost £90M (-30%). The commercial market seemingly fared worse still; fewer than half the number of lots were offered and sold in March when compared with last year, whilst commercial receipts dropped by over 41% to £68.3M.

In both sectors, however, there were several major auctioneers that choose to hold their Spring auction in April this year compared to March last year. Whilst this doesn't fully account for the large falls witnessed below, it's certainly an attributing factor.

Overall

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

March 2019 January 2019 to March 2019 April 2018 to March 2019
Lots Offered 2,236 (3,088) 27.6% 6,286 (7,586) 17.1% 30,762 (33,495) 8.2%
Lots Sold 1,636 (2,283) 28.3% 4,699 (5,708) 17.7% 22,726 (25,540) 11.0%
Percent Sold 73.2% (73.9%) 0.9% 74.8% (75.2%) 0.5% 73.9% (76.3%) 3.1%
Total Raised £279.2M (£416.5M) 33.0% £816.1M (£1,011.6M) 19.3% £3,923.5M (£4,561.7M) 14.0%

Residential

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

March 2019 January 2019 to March 2019 April 2018 to March 2019
Lots Offered 1,960 (2,511) 21.9% 5,466 (6,357) 14.0% 25,965 (28,005) 7.3%
Lots Sold 1,438 (1,847) 22.1% 4,080 (4,777) 14.6% 19,098 (21,273) 10.2%
Percent Sold 73.4% (73.6%) 0.3% 74.6% (75.1%) 0.7% 73.6% (76.0%) 3.2%
Total Raised £210.9M (£300.6M) 29.8% £591.8M (£754.7M) 21.6% £2,836.8M (£3,218.6M) 11.9%

Commercial

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

March 2019 January 2019 to March 2019 April 2018 to March 2019
Lots Offered 276 (577) 52.2% 820 (1,229) 33.3% 4,797 (5,490) 12.6%
Lots Sold 198 (436) 54.6% 619 (931) 33.5% 3,628 (4,267) 15.0%
Percent Sold 71.7% (75.6%) 5.2% 75.5% (75.8%) 0.4% 75.6% (77.7%) 2.7%
Total Raised £68.3M (£115.9M) 41.1% £224.3M (£256.9M) 12.7% £1,086.6M (£1,343.2M) 19.1%

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

January 2019 to March 2019 Total Residential Commercial
Lots Offered 205 (224) 8.5% 162 (176) 8.0% 43 (48) 10.4%
Lots Sold 143 (173) 17.3% 109 (138) 21.0% 34 (35) 2.9%
Percent Sold 69.8% (77.2%) 9.6% 67.3% (78.4%) 14.2% 79.1% (72.9%) 8.5%
Total Raised £25.1M (£31.5M) 20.3% £17.9M (£21.2M) 15.5% £7.2M (£10.3M) 30.1%

East-MidlandsEast Midlands

January 2019 to March 2019 Total Residential Commercial
Lots Offered 368 (484) 24.0% 304 (397) 23.4% 64 (87) 26.4%
Lots Sold 280 (367) 23.7% 233 (301) 22.6% 47 (66) 28.8%
Percent Sold 76.1% (75.8%) 0.4% 76.6% (75.8%) 1.1% 73.4% (75.9%) 3.3%
Total Raised £44.4M (£54.0M) 17.8% £28.1M (£35.0M) 19.6% £16.2M (£19.0M) 14.4%

LondonLondon

January 2019 to March 2019 Total Residential Commercial
Lots Offered 520 (647) 19.6% 462 (584) 20.9% 58 (63) 7.9%
Lots Sold 385 (472) 18.4% 340 (427) 20.4% 45 (45) 0.0%
Percent Sold 74.0% (73.0%) 1.4% 73.6% (73.1%) 0.7% 77.6% (71.4%) 8.7%
Total Raised £188.4M (£230.1M) 18.1% £141.6M (£192.9M) 26.6% £46.7M (£37.2M) 25.6%

North-EastNorth-East

January 2019 to March 2019 Total Residential Commercial
Lots Offered 781 (706) 10.6% 740 (665) 11.3% 41 (41) 0.0%
Lots Sold 584 (541) 7.9% 557 (511) 9.0% 27 (30) 10.0%
Percent Sold 74.8% (76.6%) 2.3% 75.3% (76.8%) 2.0% 65.9% (73.2%) 10.0%
Total Raised £44.7M (£37.6M) 19.0% £37.6M (£33.8M) 11.2% £7.0M (£3.7M) 89.0%

North-WestNorth-West

January 2019 to March 2019 Total Residential Commercial
Lots Offered 961 (1,216) 21.0% 815 (992) 17.8% 146 (224) 34.8%
Lots Sold 715 (929) 23.0% 612 (761) 19.6% 103 (168) 38.7%
Percent Sold 74.4% (76.4%) 2.6% 75.1% (76.7%) 2.1% 70.5% (75.0%) 6.0%
Total Raised £68.7M (£90.0M) 23.6% £50.8M (£62.9M) 19.2% £17.9M (£27.1M) 33.9%

North-West-Home-CountiesNorth-West Home Counties

January 2019 to March 2019 Total Residential Commercial
Lots Offered 301 (362) 16.9% 269 (300) 10.3% 32 (62) 48.4%
Lots Sold 232 (253) 8.3% 205 (208) 1.4% 27 (45) 40.0%
Percent Sold 77.1% (69.9%) 10.3% 76.2% (69.3%) 10.0% 84.4% (72.6%) 16.3%
Total Raised £62.6M (£94.4M) 33.7% £52.0M (£71.1M) 26.9% £10.6M (£23.3M) 54.4%

Northern-IrelandNorthern Ireland

January 2019 to March 2019 Total Residential Commercial
Lots Offered 112 (254) 55.9% 102 (218) 53.2% 10 (36) 72.2%
Lots Sold 53 (131) 59.5% 49 (109) 55.0% 4 (22) 81.8%
Percent Sold 47.3% (51.6%) 8.3% 48.0% (50.0%) 4.0% 40.0% (61.1%) 34.5%
Total Raised £3.6M (£13.4M) 73.3% £3.4M (£10.9M) 68.8% £0.2M (£2.5M) 92.9%

ScotlandScotland

January 2019 to March 2019 Total Residential Commercial
Lots Offered 144 (221) 34.8% 120 (153) 21.6% 24 (68) 64.7%
Lots Sold 99 (142) 30.3% 77 (90) 14.4% 22 (52) 57.7%
Percent Sold 68.8% (64.3%) 7.0% 64.2% (58.8%) 9.2% 91.7% (76.5%) 19.9%
Total Raised £7.7M (£17.8M) 56.7% £3.4M (£6.3M) 46.0% £4.3M (£11.5M) 62.6%

South-East-Home-CountiesSouth-East Home Counties

January 2019 to March 2019 Total Residential Commercial
Lots Offered 884 (1,014) 12.8% 757 (839) 9.8% 127 (175) 27.4%
Lots Sold 660 (772) 14.5% 564 (636) 11.3% 96 (136) 29.4%
Percent Sold 74.7% (76.1%) 1.8% 74.5% (75.8%) 1.7% 75.6% (77.7%) 2.7%
Total Raised £158.3M (£181.6M) 12.8% £108.7M (£133.8M) 18.7% £49.6M (£47.8M) 3.8%

South-WestSouth-West

January 2019 to March 2019 Total Residential Commercial
Lots Offered 351 (449) 21.8% 282 (318) 11.3% 69 (131) 47.3%
Lots Sold 274 (365) 24.9% 216 (251) 13.9% 58 (114) 49.1%
Percent Sold 78.1% (81.3%) 3.9% 76.6% (78.9%) 2.9% 84.1% (87.0%) 3.3%
Total Raised £53.4M (£67.1M) 20.4% £33.3M (£47.7M) 30.1% £20.1M (£19.4M) 3.7%

WalesWales

January 2019 to March 2019 Total Residential Commercial
Lots Offered 370 (405) 8.6% 309 (327) 5.5% 61 (78) 21.8%
Lots Sold 273 (292) 6.5% 230 (243) 5.3% 43 (49) 12.2%
Percent Sold 73.8% (72.1%) 2.4% 74.4% (74.3%) 0.1% 70.5% (62.8%) 12.3%
Total Raised £26.9M (£26.9M) 0.2% £17.5M (£19.2M) 8.6% £9.4M (£7.7M) 22.2%

West-MidlandsWest Midlands

January 2019 to March 2019 Total Residential Commercial
Lots Offered 760 (965) 21.2% 684 (858) 20.3% 76 (107) 29.0%
Lots Sold 564 (749) 24.7% 508 (668) 24.0% 56 (81) 30.9%
Percent Sold 74.2% (77.6%) 4.4% 74.3% (77.9%) 4.6% 73.7% (75.7%) 2.6%
Total Raised £77.2M (£110.2M) 30.0% £59.6M (£81.8M) 27.2% £17.6M (£28.4M) 38.1%

Yorkshire-and-The-HumberYorkshire and The Humber

January 2019 to March 2019 Total Residential Commercial
Lots Offered 529 (639) 17.2% 460 (530) 13.2% 69 (109) 36.7%
Lots Sold 437 (522) 16.3% 380 (434) 12.4% 57 (88) 35.2%
Percent Sold 82.6% (81.7%) 1.1% 82.6% (81.9%) 0.9% 82.6% (80.7%) 2.4%
Total Raised £55.1M (£57.1M) 3.6% £37.7M (£38.0M) 0.8% £17.4M (£19.1M) 9.1%

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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