Essential Information Group

June 2019 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the June newsletter that looks back at auction activity in May and preceding periods. Following a positive set of results in April, the market came back down to Earth last month with overall lots offered and lots sold both down 15% to 2,932 and 2,181 lots respectively. The total raised dropped by 24% to £383.4M, and double-digit falls are also prevalent through the rolling quarterly and yearly figures.

Whilst we have been seeing decreasing volumes and smaller lot sizes for some time now, it is important to point out that the sale rate has consistently reached the mid-seventies throughout this period. The relative stability in the overall sale rate demonstrates that sensibly price stock will sell in the current market conditions and that auctioneers are being selective in what they take to ensure this.

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 May 2019
Auctions Held in the UK 104
Total Lots Offered 2,932
Total Lots Sold 2,181
Percent Sold 74.4%
Total Realised £383,405,668

National Auction Analysis

The residential sector saw 342 fewer lots offered last month compared with May 2018 - down 12% to 2,464 lots, whilst the total value of residential sales dropped by 23% to £274.2M - down £82M on last year. As mentioned above, the residential sale rate remains strong and stable and indeed we see a 2% increase on last year, to 75.2%.

Commercial lots offered fell by 26% to 468 lots, with lots sold down 34% to 327 lots. Commercial receipts totalled £109.2M, down 27% from £149.9M raised in May 2018.

Overall

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

May 2019 March 2019 to May 2019 June 2018 to May 2019
Lots Offered 2,932 (3,440) 14.8% 7,483 (8,482) 11.8% 30,474 (33,482) 9.0%
Lots Sold 2,181 (2,563) 14.9% 5,551 (6,260) 11.3% 22,554 (25,311) 10.9%
Percent Sold 74.4% (74.5%) 0.1% 74.2% (73.8%) 0.5% 74.0% (75.6%) 2.1%
Total Raised £383.4M (£506.6M) 24.3% £927.3M (£1,123.1M) 17.4% £3,818.6M (£4,483.3M) 14.8%

Residential

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

May 2019 March 2019 to May 2019 June 2018 to May 2019
Lots Offered 2,464 (2,806) 12.2% 6,436 (7,018) 8.3% 25,814 (28,067) 8.0%
Lots Sold 1,854 (2,070) 10.4% 4,802 (5,144) 6.6% 19,078 (21,104) 9.6%
Percent Sold 75.2% (73.8%) 1.9% 74.6% (73.3%) 1.8% 73.9% (75.2%) 1.7%
Total Raised £274.2M (£356.7M) 23.1% £685.5M (£829.0M) 17.3% £2,766.3M (£3,203.0M) 13.6%

Commercial

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

May 2019 March 2019 to May 2019 June 2018 to May 2019
Lots Offered 468 (634) 26.2% 1,047 (1,464) 28.5% 4,660 (5,415) 13.9%
Lots Sold 327 (493) 33.7% 749 (1,116) 32.9% 3,476 (4,207) 17.4%
Percent Sold 69.9% (77.8%) 10.2% 71.5% (76.2%) 6.2% 74.6% (77.7%) 4.0%
Total Raised £109.2M (£149.9M) 27.1% £241.8M (£294.1M) 17.8% £1,052.3M (£1,280.4M) 17.8%

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

March 2019 to May 2019 Total Residential Commercial
Lots Offered 219 (246) 11.0% 173 (200) 13.5% 46 (46) 0.0%
Lots Sold 156 (189) 17.5% 120 (148) 18.9% 36 (41) 12.2%
Percent Sold 71.2% (76.8%) 7.3% 69.4% (74.0%) 6.2% 78.3% (89.1%) 12.1%
Total Raised £29.6M (£34.8M) 15.0% £18.6M (£24.0M) 22.5% £11.0M (£10.8M) 1.8%

East-MidlandsEast Midlands

March 2019 to May 2019 Total Residential Commercial
Lots Offered 512 (600) 14.7% 421 (512) 17.8% 91 (88) 3.4%
Lots Sold 383 (454) 15.6% 324 (388) 16.5% 59 (66) 10.6%
Percent Sold 74.8% (75.7%) 1.2% 77.0% (75.8%) 1.6% 64.8% (75.0%) 13.6%
Total Raised £59.5M (£68.1M) 12.7% £40.6M (£50.2M) 19.0% £18.8M (£18.0M) 4.8%

LondonLondon

March 2019 to May 2019 Total Residential Commercial
Lots Offered 563 (625) 9.9% 509 (572) 11.0% 54 (53) 1.9%
Lots Sold 391 (444) 11.9% 357 (404) 11.6% 34 (40) 15.0%
Percent Sold 69.4% (71.0%) 2.3% 70.1% (70.6%) 0.7% 63.0% (75.5%) 16.6%
Total Raised £184.9M (£244.7M) 24.4% £149.9M (£208.6M) 28.1% £35.0M (£36.1M) 3.0%

North-EastNorth-East

March 2019 to May 2019 Total Residential Commercial
Lots Offered 752 (740) 1.6% 712 (687) 3.6% 40 (53) 24.5%
Lots Sold 575 (540) 6.5% 550 (505) 8.9% 25 (35) 28.6%
Percent Sold 76.5% (73.0%) 4.8% 77.2% (73.5%) 5.0% 62.5% (66.0%) 5.3%
Total Raised £45.2M (£42.1M) 7.5% £37.3M (£35.8M) 4.3% £7.9M (£6.3M) 25.6%

North-WestNorth-West

March 2019 to May 2019 Total Residential Commercial
Lots Offered 1,148 (1,393) 17.6% 997 (1,151) 13.4% 151 (242) 37.6%
Lots Sold 834 (1,012) 17.6% 741 (820) 9.6% 93 (192) 51.6%
Percent Sold 72.6% (72.6%) 0.0% 74.3% (71.2%) 4.4% 61.6% (79.3%) 22.3%
Total Raised £83.0M (£109.5M) 24.2% £59.5M (£76.3M) 22.1% £23.5M (£33.2M) 29.1%

North-West-Home-CountiesNorth-West Home Counties

March 2019 to May 2019 Total Residential Commercial
Lots Offered 413 (399) 3.5% 371 (326) 13.8% 42 (73) 42.5%
Lots Sold 331 (297) 11.4% 294 (241) 22.0% 37 (56) 33.9%
Percent Sold 80.1% (74.4%) 7.7% 79.2% (73.9%) 7.2% 88.1% (76.7%) 14.9%
Total Raised £83.7M (£83.2M) 0.7% £63.5M (£60.8M) 4.4% £20.2M (£22.4M) 9.5%

Northern-IrelandNorthern Ireland

March 2019 to May 2019 Total Residential Commercial
Lots Offered 99 (264) 62.5% 82 (230) 64.3% 17 (34) 50.0%
Lots Sold 48 (128) 62.5% 45 (109) 58.7% 3 (19) 84.2%
Percent Sold 48.5% (48.5%) 0.0% 54.9% (47.4%) 15.8% 17.6% (55.9%) 68.5%
Total Raised £4.3M (£13.1M) 67.0% £4.1M (£10.8M) 61.8% £0.2M (£2.3M) 91.0%

ScotlandScotland

March 2019 to May 2019 Total Residential Commercial
Lots Offered 192 (257) 25.3% 152 (164) 7.3% 40 (93) 57.0%
Lots Sold 123 (173) 28.9% 93 (105) 11.4% 30 (68) 55.9%
Percent Sold 64.1% (67.3%) 4.8% 61.2% (64.0%) 4.4% 75.0% (73.1%) 2.6%
Total Raised £12.3M (£20.1M) 39.0% £4.8M (£8.2M) 41.7% £7.5M (£11.9M) 37.1%

South-East-Home-CountiesSouth-East Home Counties

March 2019 to May 2019 Total Residential Commercial
Lots Offered 1,067 (1,089) 2.0% 928 (897) 3.5% 139 (192) 27.6%
Lots Sold 788 (807) 2.4% 688 (666) 3.3% 100 (141) 29.1%
Percent Sold 73.9% (74.1%) 0.3% 74.1% (74.2%) 0.1% 71.9% (73.4%) 2.0%
Total Raised £166.8M (£196.6M) 15.2% £124.4M (£137.8M) 9.7% £42.3M (£58.8M) 28.0%

South-WestSouth-West

March 2019 to May 2019 Total Residential Commercial
Lots Offered 491 (598) 17.9% 371 (398) 6.8% 120 (200) 40.0%
Lots Sold 373 (474) 21.3% 272 (306) 11.1% 101 (168) 39.9%
Percent Sold 76.0% (79.3%) 4.2% 73.3% (76.9%) 4.7% 84.2% (84.0%) 0.2%
Total Raised £61.8M (£83.0M) 25.6% £43.0M (£57.1M) 24.7% £18.8M (£25.9M) 27.7%

WalesWales

March 2019 to May 2019 Total Residential Commercial
Lots Offered 484 (475) 1.9% 386 (365) 5.8% 98 (110) 10.9%
Lots Sold 340 (354) 4.0% 275 (272) 1.1% 65 (82) 20.7%
Percent Sold 70.2% (74.5%) 5.8% 71.2% (74.5%) 4.4% 66.3% (74.5%) 11.0%
Total Raised £38.8M (£34.1M) 13.8% £25.0M (£23.9M) 4.8% £13.7M (£10.2M) 35.1%

West-MidlandsWest Midlands

March 2019 to May 2019 Total Residential Commercial
Lots Offered 948 (1,100) 13.8% 836 (935) 10.6% 112 (165) 32.1%
Lots Sold 726 (852) 14.8% 639 (728) 12.2% 87 (124) 29.8%
Percent Sold 76.6% (77.5%) 1.2% 76.4% (77.9%) 1.9% 77.7% (75.2%) 3.3%
Total Raised £101.5M (£129.2M) 21.4% £77.1M (£92.6M) 16.7% £24.4M (£36.6M) 33.4%

Yorkshire-and-The-HumberYorkshire and The Humber

March 2019 to May 2019 Total Residential Commercial
Lots Offered 595 (696) 14.5% 498 (581) 14.3% 97 (115) 15.7%
Lots Sold 483 (536) 9.9% 404 (452) 10.6% 79 (84) 6.0%
Percent Sold 81.2% (77.0%) 5.5% 81.1% (77.8%) 4.2% 81.4% (73.0%) 11.5%
Total Raised £56.0M (£64.6M) 13.4% £37.6M (£43.0M) 12.6% £18.4M (£21.6M) 14.8%

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

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