Essential Information Group

January 2019 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the first newsletter of 2019 that looks back at auction activity in December and preceding periods. December's figures epitomise the results seen through much of 2018, with double-digit falls in lots offered (down 10%), lots sold (down 12%) and total raised (down 14%).

The ongoing Brexit turmoil leaves an outlook that remains uncertain, at least in the short term. The entire property market, private treaty included, is seemingly on tenterhooks whilst parliament continue to try and negotiate a way out of the mire.

As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general, and may I take this opportunity to wish you a happy and prosperous New Year!

Please note the newsletter can also be viewed online.

Overall Statistics December 2018
Auctions Held in the UK 100
Total Lots Offered 3,324
Total Lots Sold 2,461
Percent Sold 74%
Total Realised £453,696,181

National Auction Analysis

The residential market saw lots offered fall by almost 11% last month, from 3,078 lots to 2,752 lots. Sales dropped 14%, to 2,016 lots, whilst the amount raised fell 12.5% to £297.6M.

In the commercial market the falls were less exaggerated, with lots offered down 7.7% to 572 lots and lots sold down 3.1% to 445 lots. The amount raised decreased by over £33M to £156.1M (down 17.7%), but one notable positive was a 5% increase in the sale rate to almost 78%.

Overall

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

December 2018 October 2018 to December 2018 January 2018 to December 2018
Lots Offered 3,324 (3,698) 10.1% 8,608 (9,263) 7.1% 31,490 (32,987) 4.5%
Lots Sold 2,461 (2,797) 12.0% 6,332 (6,964) 9.1% 23,577 (25,376) 7.1%
Percent Sold 74.0% (75.6%) 2.1% 73.6% (75.2%) 2.1% 74.9% (76.9%) 2.6%
Total Raised £453.7M (£529.8M) 14.4% £1,137.0M (£1,351.1M) 15.9% £4,156.5M (£4,632.8M) 10.3%

Residential

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

December 2018 October 2018 to December 2018 January 2018 to December 2018
Lots Offered 2,752 (3,078) 10.6% 7,102 (7,560) 6.1% 26,279 (27,494) 4.4%
Lots Sold 2,016 (2,338) 13.8% 5,179 (5,632) 8.0% 19,595 (21,024) 6.8%
Percent Sold 73.3% (76.0%) 3.6% 72.9% (74.5%) 2.1% 74.6% (76.5%) 2.5%
Total Raised £297.6M (£340.1M) 12.5% £746.9M (£821.8M) 9.1% £2,989.4M (£3,190.4M) 6.3%

Commercial

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

December 2018 October 2018 to December 2018 January 2018 to December 2018
Lots Offered 572 (620) 7.7% 1,506 (1,703) 11.6% 5,211 (5,493) 5.1%
Lots Sold 445 (459) 3.1% 1,153 (1,332) 13.4% 3,982 (4,352) 8.5%
Percent Sold 77.8% (74.0%) 5.1% 76.6% (78.2%) 2.0% 76.4% (79.2%) 3.5%
Total Raised £156.1M (£189.7M) 17.7% £390.0M (£529.3M) 26.3% £1,167.1M (£1,442.4M) 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

October 2018 to December 2018 Total Residential Commercial
Lots Offered 318 (333) 4.5% 244 (247) 1.2% 74 (86) 14.0%
Lots Sold 240 (259) 7.3% 176 (183) 3.8% 64 (76) 15.8%
Percent Sold 75.5% (77.8%) 3.0% 72.1% (74.1%) 2.7% 86.5% (88.4%) 2.1%
Total Raised £40.4M (£63.5M) 36.3% £25.2M (£25.5M) 1.2% £15.3M (£38.1M) 59.8%

East-MidlandsEast Midlands

October 2018 to December 2018 Total Residential Commercial
Lots Offered 560 (600) 6.7% 454 (488) 7.0% 106 (112) 5.4%
Lots Sold 409 (475) 13.9% 328 (385) 14.8% 81 (90) 10.0%
Percent Sold 73.0% (79.2%) 7.8% 72.2% (78.9%) 8.5% 76.4% (80.4%) 5.0%
Total Raised £63.4M (£83.7M) 24.2% £39.0M (£51.2M) 23.7% £24.4M (£32.5M) 25.0%

LondonLondon

October 2018 to December 2018 Total Residential Commercial
Lots Offered 551 (765) 28.0% 490 (675) 27.4% 61 (90) 32.2%
Lots Sold 403 (537) 25.0% 354 (468) 24.4% 49 (69) 29.0%
Percent Sold 73.1% (70.2%) 4.1% 72.2% (69.3%) 4.2% 80.3% (76.7%) 4.7%
Total Raised £194.7M (£253.5M) 23.2% £160.1M (£193.6M) 17.3% £34.6M (£59.9M) 42.3%

North-EastNorth-East

October 2018 to December 2018 Total Residential Commercial
Lots Offered 853 (772) 10.5% 770 (712) 8.1% 83 (60) 38.3%
Lots Sold 604 (569) 6.2% 551 (526) 4.8% 53 (43) 23.3%
Percent Sold 70.8% (73.7%) 3.9% 71.6% (73.9%) 3.1% 63.9% (71.7%) 10.9%
Total Raised £51.7M (£48.6M) 6.4% £36.9M (£37.7M) 2.0% £14.7M (£10.9M) 35.4%

North-WestNorth-West

October 2018 to December 2018 Total Residential Commercial
Lots Offered 1,424 (1,513) 5.9% 1,182 (1,287) 8.2% 242 (226) 7.1%
Lots Sold 1,021 (1,093) 6.6% 850 (929) 8.5% 171 (164) 4.3%
Percent Sold 71.7% (72.2%) 0.7% 71.9% (72.2%) 0.4% 70.7% (72.6%) 2.6%
Total Raised £104.9M (£113.3M) 7.4% £70.5M (£73.1M) 3.5% £34.4M (£40.2M) 14.5%

North-West-Home-CountiesNorth-West Home Counties

October 2018 to December 2018 Total Residential Commercial
Lots Offered 398 (427) 6.8% 331 (314) 5.4% 67 (113) 40.7%
Lots Sold 301 (327) 8.0% 249 (233) 6.9% 52 (94) 44.7%
Percent Sold 75.6% (76.6%) 1.3% 75.2% (74.2%) 1.3% 77.6% (83.2%) 6.7%
Total Raised £84.2M (£126.5M) 33.4% £53.1M (£55.4M) 4.3% £31.2M (£71.1M) 56.1%

Northern-IrelandNorthern Ireland

October 2018 to December 2018 Total Residential Commercial
Lots Offered 165 (309) 46.6% 141 (258) 45.3% 24 (51) 52.9%
Lots Sold 64 (180) 64.4% 56 (148) 62.2% 8 (32) 75.0%
Percent Sold 38.8% (58.3%) 33.4% 39.7% (57.4%) 30.8% 33.3% (62.7%) 46.9%
Total Raised £5.5M (£15.4M) 63.9% £5.0M (£12.6M) 60.2% £0.5M (£2.8M) 80.8%

ScotlandScotland

October 2018 to December 2018 Total Residential Commercial
Lots Offered 261 (310) 15.8% 211 (214) 1.4% 50 (96) 47.9%
Lots Sold 177 (196) 9.7% 133 (123) 8.1% 44 (73) 39.7%
Percent Sold 67.8% (63.2%) 7.3% 63.0% (57.5%) 9.6% 88.0% (76.0%) 15.8%
Total Raised £18.7M (£27.6M) 32.4% £8.8M (£6.4M) 36.8% £9.8M (£21.1M) 53.5%

South-East-Home-CountiesSouth-East Home Counties

October 2018 to December 2018 Total Residential Commercial
Lots Offered 1,096 (1,235) 11.3% 872 (988) 11.7% 224 (247) 9.3%
Lots Sold 795 (959) 17.1% 620 (762) 18.6% 175 (197) 11.2%
Percent Sold 72.5% (77.7%) 6.7% 71.1% (77.1%) 7.8% 78.1% (79.8%) 2.1%
Total Raised £217.7M (£238.5M) 8.7% £132.6M (£145.6M) 8.9% £85.1M (£92.9M) 8.4%

South-WestSouth-West

October 2018 to December 2018 Total Residential Commercial
Lots Offered 584 (598) 2.3% 417 (410) 1.7% 167 (188) 11.2%
Lots Sold 473 (476) 0.6% 327 (320) 2.2% 146 (156) 6.4%
Percent Sold 81.0% (79.6%) 1.8% 78.4% (78.0%) 0.5% 87.4% (83.0%) 5.3%
Total Raised £108.8M (£105.5M) 3.2% £62.1M (£64.0M) 3.0% £46.7M (£41.5M) 12.7%

WalesWales

October 2018 to December 2018 Total Residential Commercial
Lots Offered 593 (568) 4.4% 480 (445) 7.9% 113 (123) 8.1%
Lots Sold 442 (419) 5.5% 361 (330) 9.4% 81 (89) 9.0%
Percent Sold 74.5% (73.8%) 0.9% 75.2% (74.2%) 1.3% 71.7% (72.4%) 1.0%
Total Raised £52.1M (£48.4M) 7.7% £31.1M (£27.2M) 14.4% £21.0M (£21.2M) 0.8%

West-MidlandsWest Midlands

October 2018 to December 2018 Total Residential Commercial
Lots Offered 1,015 (1,006) 0.9% 854 (850) 0.5% 161 (156) 3.2%
Lots Sold 767 (819) 6.3% 642 (692) 7.2% 125 (127) 1.6%
Percent Sold 75.6% (81.4%) 7.1% 75.2% (81.4%) 7.6% 77.6% (81.4%) 4.7%
Total Raised £118.4M (£134.7M) 12.1% £73.8M (£82.4M) 10.5% £44.6M (£52.2M) 14.7%

Yorkshire-and-The-HumberYorkshire and The Humber

October 2018 to December 2018 Total Residential Commercial
Lots Offered 790 (827) 4.5% 656 (672) 2.4% 134 (155) 13.5%
Lots Sold 636 (655) 2.9% 532 (533) 0.2% 104 (122) 14.8%
Percent Sold 80.5% (79.2%) 1.6% 81.1% (79.3%) 2.3% 77.6% (78.7%) 1.4%
Total Raised £76.4M (£92.0M) 17.0% £48.8M (£47.2M) 3.3% £27.6M (£44.8M) 38.4%

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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