Essential Information Group

March 2019 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the March 2019 newsletter that looks back on auction activity in February and preceding periods. There were 3,394 lots offered and 2,569 lots sold across the UK last month, both down 17% on February 2018, whilst the amount raised dropped by 13% to £492M.

The subdued auction results are reflective of the private treaty market, which continues to remain sluggish. Several recent press reports confirm that like-for-like sales are down in many areas of the UK, with buyers hesitant to commit against a cloud of political uncertainty.

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 February 2019
Auctions Held in the UK 115
Total Lots Offered 3,394
Total Lots Sold 2,569
Percent Sold 75.7%
Total Realised £491,972,032

National Auction Analysis

Both sectors of the UK auction market experienced notable falls between 16% and 18% in lots offered and lots sold last month. That being said, commercial receipts saw a surprising increase - up 10% from £139.2M to £153.6M, suggesting a rise in the average values of commercial property going under the hammer.

Overall

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

February 2019 December 2018 to February 2019 March 2018 to February 2019
Lots Offered 3,394 (4,068) 16.6% 7,278 (8,259) 11.9% 31,508 (33,257) 5.3%
Lots Sold 2,569 (3,096) 17.0% 5,455 (6,283) 13.2% 23,364 (25,422) 8.1%
Percent Sold 75.7% (76.1%) 0.5% 75.0% (76.1%) 1.4% 74.2% (76.4%) 2.9%
Total Raised £492.0M (£565.1M) 12.9% £985.9M (£1,131.7M) 12.9% £4,094.1M (£4,595.3M) 10.9%

Residential

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

February 2019 December 2018 to February 2019 March 2018 to February 2019
Lots Offered 2,876 (3,437) 16.3% 6,170 (6,982) 11.6% 26,413 (27,800) 5.0%
Lots Sold 2,173 (2,620) 17.1% 4,594 (5,324) 13.7% 19,468 (21,157) 8.0%
Percent Sold 75.6% (76.2%) 0.8% 74.5% (76.3%) 2.4% 73.7% (76.1%) 3.2%
Total Raised £338.4M (£425.9M) 20.5% £674.2M (£799.3M) 15.7% £2,931.8M (£3,189.8M) 8.1%

Commercial

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

February 2019 December 2018 to February 2019 March 2018 to February 2019
Lots Offered 518 (631) 17.9% 1,108 (1,277) 13.2% 5,095 (5,457) 6.6%
Lots Sold 396 (476) 16.8% 861 (959) 10.2% 3,896 (4,265) 8.7%
Percent Sold 76.4% (75.4%) 1.3% 77.7% (75.1%) 3.5% 76.5% (78.2%) 2.2%
Total Raised £153.6M (£139.2M) 10.3% £311.7M (£332.4M) 6.2% £1,162.3M (£1,405.5M) 17.3%

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

December 2018 to February 2019 Total Residential Commercial
Lots Offered 297 (283) 4.9% 232 (222) 4.5% 65 (61) 6.6%
Lots Sold 212 (230) 7.8% 160 (180) 11.1% 52 (50) 4.0%
Percent Sold 71.4% (81.3%) 12.2% 69.0% (81.1%) 14.9% 80.0% (82.0%) 2.4%
Total Raised £35.5M (£39.9M) 11.1% £23.4M (£23.8M) 1.9% £12.1M (£16.1M) 24.6%

East-MidlandsEast Midlands

December 2018 to February 2019 Total Residential Commercial
Lots Offered 424 (566) 25.1% 353 (463) 23.8% 71 (103) 31.1%
Lots Sold 332 (455) 27.0% 275 (374) 26.5% 57 (81) 29.6%
Percent Sold 78.3% (80.4%) 2.6% 77.9% (80.8%) 3.6% 80.3% (78.6%) 2.2%
Total Raised £46.7M (£69.7M) 33.1% £30.4M (£44.4M) 31.6% £16.3M (£25.3M) 35.6%

LondonLondon

December 2018 to February 2019 Total Residential Commercial
Lots Offered 580 (746) 22.3% 508 (675) 24.7% 72 (71) 1.4%
Lots Sold 434 (559) 22.4% 373 (504) 26.0% 61 (55) 10.9%
Percent Sold 74.8% (74.9%) 0.1% 73.4% (74.7%) 1.7% 84.7% (77.5%) 9.3%
Total Raised £223.9M (£243.8M) 8.2% £166.3M (£198.5M) 16.2% £57.6M (£45.3M) 27.2%

North-EastNorth-East

December 2018 to February 2019 Total Residential Commercial
Lots Offered 760 (817) 7.0% 698 (769) 9.2% 62 (48) 29.2%
Lots Sold 542 (627) 13.6% 508 (593) 14.3% 34 (34) 0.0%
Percent Sold 71.3% (76.7%) 7.0% 72.8% (77.1%) 5.6% 54.8% (70.8%) 22.6%
Total Raised £43.2M (£45.1M) 4.1% £33.8M (£40.6M) 16.7% £9.4M (£4.5M) 110.2%

North-WestNorth-West

December 2018 to February 2019 Total Residential Commercial
Lots Offered 1,296 (1,499) 13.5% 1,095 (1,267) 13.6% 201 (232) 13.4%
Lots Sold 960 (1,114) 13.8% 816 (956) 14.6% 144 (158) 8.9%
Percent Sold 74.1% (74.3%) 0.3% 74.5% (75.5%) 1.3% 71.6% (68.1%) 5.1%
Total Raised £90.7M (£108.5M) 16.4% £66.7M (£76.6M) 12.9% £24.0M (£31.8M) 24.7%

North-West-Home-CountiesNorth-West Home Counties

December 2018 to February 2019 Total Residential Commercial
Lots Offered 359 (415) 13.5% 317 (341) 7.0% 42 (74) 43.2%
Lots Sold 280 (312) 10.3% 247 (252) 2.0% 33 (60) 45.0%
Percent Sold 78.0% (75.2%) 3.7% 77.9% (73.9%) 5.4% 78.6% (81.1%) 3.1%
Total Raised £73.9M (£118.1M) 37.4% £57.6M (£77.9M) 26.1% £16.3M (£40.2M) 59.4%

Northern-IrelandNorthern Ireland

December 2018 to February 2019 Total Residential Commercial
Lots Offered 160 (185) 13.5% 142 (167) 15.0% 18 (18) 0.0%
Lots Sold 75 (84) 10.7% 66 (78) 15.4% 9 (6) 50.0%
Percent Sold 46.9% (45.4%) 3.3% 46.5% (46.7%) 0.4% 50.0% (33.3%) 50.2%
Total Raised £6.3M (£6.6M) 4.4% £5.7M (£6.3M) 9.1% £0.5M (£0.3M) 110.5%

ScotlandScotland

December 2018 to February 2019 Total Residential Commercial
Lots Offered 142 (169) 16.0% 116 (113) 2.7% 26 (56) 53.6%
Lots Sold 97 (104) 6.7% 74 (65) 13.8% 23 (39) 41.0%
Percent Sold 68.3% (61.5%) 11.1% 63.8% (57.5%) 11.0% 88.5% (69.6%) 27.2%
Total Raised £10.8M (£16.7M) 35.1% £5.6M (£2.5M) 127.6% £5.2M (£14.2M) 63.2%

South-East-Home-CountiesSouth-East Home Counties

December 2018 to February 2019 Total Residential Commercial
Lots Offered 949 (1,065) 10.9% 776 (890) 12.8% 173 (175) 1.1%
Lots Sold 719 (824) 12.7% 579 (685) 15.5% 140 (139) 0.7%
Percent Sold 75.8% (77.4%) 2.1% 74.6% (77.0%) 3.1% 80.9% (79.4%) 1.9%
Total Raised £201.2M (£207.5M) 3.0% £123.2M (£148.9M) 17.2% £78.0M (£58.6M) 33.1%

South-WestSouth-West

December 2018 to February 2019 Total Residential Commercial
Lots Offered 434 (406) 6.9% 342 (316) 8.2% 92 (90) 2.2%
Lots Sold 356 (318) 11.9% 275 (244) 12.7% 81 (74) 9.5%
Percent Sold 82.0% (78.3%) 4.7% 80.4% (77.2%) 4.1% 88.0% (82.2%) 7.1%
Total Raised £73.5M (£72.5M) 1.5% £45.7M (£47.5M) 3.8% £27.9M (£25.0M) 11.4%

WalesWales

December 2018 to February 2019 Total Residential Commercial
Lots Offered 469 (492) 4.7% 394 (387) 1.8% 75 (105) 28.6%
Lots Sold 346 (361) 4.2% 292 (287) 1.7% 54 (74) 27.0%
Percent Sold 73.8% (73.4%) 0.5% 74.1% (74.2%) 0.1% 72.0% (70.5%) 2.1%
Total Raised £37.9M (£39.4M) 3.9% £22.5M (£23.6M) 4.6% £15.4M (£15.8M) 2.9%

West-MidlandsWest Midlands

December 2018 to February 2019 Total Residential Commercial
Lots Offered 686 (903) 24.0% 584 (793) 26.4% 102 (110) 7.3%
Lots Sold 513 (726) 29.3% 435 (640) 32.0% 78 (86) 9.3%
Percent Sold 74.8% (80.4%) 7.0% 74.5% (80.7%) 7.7% 76.5% (78.2%) 2.2%
Total Raised £70.5M (£96.8M) 27.2% £47.7M (£68.2M) 29.9% £22.8M (£28.7M) 20.6%

Yorkshire-and-The-HumberYorkshire and The Humber

December 2018 to February 2019 Total Residential Commercial
Lots Offered 722 (713) 1.3% 613 (579) 5.9% 109 (134) 18.7%
Lots Sold 589 (569) 3.5% 494 (466) 6.0% 95 (103) 7.8%
Percent Sold 81.6% (79.8%) 2.3% 80.6% (80.5%) 0.1% 87.2% (76.9%) 13.4%
Total Raised £71.9M (£67.3M) 6.9% £45.6M (£40.5M) 12.4% £26.3M (£26.7M) 1.6%

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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