Essential Information Group

January 2020 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to our first newsletter of 2020 that looks back at auction activity in December and preceding periods. An almost identical number of lots were offered last month when compared with December 2018 (3,323 vs 3,324), but encouragingly the number of sales increased by 3.5% to 2,547 lots.

It has undoubtedly been a challenging year for the industry. However, now that we have a majority government and a clearer path for Brexit, backed up by continued low interest rates, we would expect to see an improving market through 2020 with renewed confidence amongst buyers and sellers alike.

I do hope you all enjoyed a restful and relaxing break over the festive period. As ever I would welcome any feedback you may have regarding the newsletters or indeed the wider market in general.

Please note the newsletter can also be viewed online.

Overall Statistics December 2019
Auctions Held in the UK 98
Total Lots Offered 3,323
Total Lots Sold 2,547
Percent Sold 76.6%
Total Realised £425,714,381

National Auction Analysis

The residential sector enjoyed a largely positive month, with total sales up 6.7% to 2,151 lots and raising £307.7M in the process - up 3.4% on last year.

Conversely, the commercial sector saw double-digit falls in total sales and amount raised for a third consecutive month. The 396 commercial lots sold in December was 11% down on December 2018 (445), whilst the total amount raised fell 24.4% to £118M.

Although the falls witnessed across the past year are not insignificant, it must also be emphasised that the average sale rates have remained largely stable in the mid-seventies throughout.

Overall

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

December 2019 October 2019 to December 2019 January 2019 to December 2019
Lots Offered 3,323 (3,324) 0.0% 7,884 (8,608) 8.4% 28,938 (31,490) 8.1%
Lots Sold 2,547 (2,461) 3.5% 5,909 (6,332) 6.7% 21,899 (23,577) 7.1%
Percent Sold 76.6% (74.0%) 3.5% 74.9% (73.6%) 1.8% 75.7% (74.9%) 1.1%
Total Raised £425.7M (£453.7M) 6.2% £1,001.6M (£1,137.0M) 11.9% £3,643.8M (£4,156.5M) 12.3%

Residential

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

December 2019 October 2019 to December 2019 January 2019 to December 2019
Lots Offered 2,786 (2,752) 1.2% 6,591 (7,102) 7.2% 24,605 (26,279) 6.4%
Lots Sold 2,151 (2,016) 6.7% 4,953 (5,179) 4.4% 18,623 (19,595) 5.0%
Percent Sold 77.2% (73.3%) 5.3% 75.1% (72.9%) 3.0% 75.7% (74.6%) 1.5%
Total Raised £307.7M (£297.6M) 3.4% £704.7M (£746.9M) 5.7% £2,665.8M (£2,989.4M) 10.8%

Commercial

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

December 2019 October 2019 to December 2019 January 2019 to December 2019
Lots Offered 537 (572) 6.1% 1,293 (1,506) 14.1% 4,333 (5,211) 16.8%
Lots Sold 396 (445) 11.0% 956 (1,153) 17.1% 3,276 (3,982) 17.7%
Percent Sold 73.7% (77.8%) 5.3% 73.9% (76.6%) 3.5% 75.6% (76.4%) 1.0%
Total Raised £118.0M (£156.1M) 24.4% £296.9M (£390.0M) 23.9% £978.0M (£1,167.1M) 16.2%

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 2019 to December 2019 Total Residential Commercial
Lots Offered 322 (318) 1.3% 252 (244) 3.3% 70 (74) 5.4%
Lots Sold 231 (240) 3.8% 180 (176) 2.3% 51 (64) 20.3%
Percent Sold 71.7% (75.5%) 5.0% 71.4% (72.1%) 1.0% 72.9% (86.5%) 15.7%
Total Raised £39.9M (£40.4M) 1.4% £29.2M (£25.2M) 16.2% £10.7M (£15.3M) 30.3%

East-MidlandsEast Midlands

October 2019 to December 2019 Total Residential Commercial
Lots Offered 546 (560) 2.5% 452 (454) 0.4% 94 (106) 11.3%
Lots Sold 441 (409) 7.8% 365 (328) 11.3% 76 (81) 6.2%
Percent Sold 80.8% (73.0%) 10.7% 80.8% (72.2%) 11.9% 80.9% (76.4%) 5.9%
Total Raised £64.6M (£63.4M) 1.9% £42.7M (£39.0M) 9.4% £21.9M (£24.4M) 10.2%

LondonLondon

October 2019 to December 2019 Total Residential Commercial
Lots Offered 526 (551) 4.5% 452 (490) 7.8% 74 (61) 21.3%
Lots Sold 421 (403) 4.5% 359 (354) 1.4% 62 (49) 26.5%
Percent Sold 80.0% (73.1%) 9.4% 79.4% (72.2%) 10.0% 83.8% (80.3%) 4.4%
Total Raised £186.7M (£194.7M) 4.1% £145.2M (£160.1M) 9.3% £41.4M (£34.6M) 19.8%

North-EastNorth-East

October 2019 to December 2019 Total Residential Commercial
Lots Offered 849 (853) 0.5% 802 (770) 4.2% 47 (83) 43.4%
Lots Sold 585 (604) 3.1% 556 (551) 0.9% 29 (53) 45.3%
Percent Sold 68.9% (70.8%) 2.7% 69.3% (71.6%) 3.2% 61.7% (63.9%) 3.4%
Total Raised £41.5M (£51.7M) 19.7% £34.6M (£36.9M) 6.4% £6.9M (£14.7M) 53.1%

North-WestNorth-West

October 2019 to December 2019 Total Residential Commercial
Lots Offered 1,303 (1,424) 8.5% 1,091 (1,182) 7.7% 212 (242) 12.4%
Lots Sold 981 (1,021) 3.9% 837 (850) 1.5% 144 (171) 15.8%
Percent Sold 75.3% (71.7%) 5.0% 76.7% (71.9%) 6.7% 67.9% (70.7%) 4.0%
Total Raised £108.1M (£104.9M) 3.0% £77.0M (£70.5M) 9.2% £31.1M (£34.4M) 9.6%

North-West-Home-CountiesNorth-West Home Counties

October 2019 to December 2019 Total Residential Commercial
Lots Offered 390 (398) 2.0% 321 (331) 3.0% 69 (67) 3.0%
Lots Sold 304 (301) 1.0% 253 (249) 1.6% 51 (52) 1.9%
Percent Sold 77.9% (75.6%) 3.0% 78.8% (75.2%) 4.8% 73.9% (77.6%) 4.8%
Total Raised £79.6M (£84.2M) 5.5% £57.7M (£53.1M) 8.7% £21.9M (£31.2M) 29.7%

Northern-IrelandNorthern Ireland

October 2019 to December 2019 Total Residential Commercial
Lots Offered 158 (165) 4.2% 127 (141) 9.9% 31 (24) 29.2%
Lots Sold 69 (64) 7.8% 61 (56) 8.9% 8 (8) 0.0%
Percent Sold 43.7% (38.8%) 12.6% 48.0% (39.7%) 20.9% 25.8% (33.3%) 22.5%
Total Raised £5.5M (£5.5M) 1.3% £5.2M (£5.0M) 2.8% £0.3M (£0.5M) 40.4%

ScotlandScotland

October 2019 to December 2019 Total Residential Commercial
Lots Offered 198 (261) 24.1% 149 (211) 29.4% 49 (50) 2.0%
Lots Sold 139 (177) 21.5% 96 (133) 27.8% 43 (44) 2.3%
Percent Sold 70.2% (67.8%) 3.5% 64.4% (63.0%) 2.2% 87.8% (88.0%) 0.2%
Total Raised £17.4M (£18.7M) 6.9% £4.7M (£8.8M) 46.6% £12.7M (£9.8M) 28.7%

South-East-Home-CountiesSouth-East Home Counties

October 2019 to December 2019 Total Residential Commercial
Lots Offered 966 (1,096) 11.9% 802 (872) 8.0% 164 (224) 26.8%
Lots Sold 751 (795) 5.5% 619 (620) 0.2% 132 (175) 24.6%
Percent Sold 77.7% (72.5%) 7.2% 77.2% (71.1%) 8.6% 80.5% (78.1%) 3.1%
Total Raised £181.6M (£217.7M) 16.6% £118.5M (£132.6M) 10.7% £63.1M (£85.1M) 25.8%

South-WestSouth-West

October 2019 to December 2019 Total Residential Commercial
Lots Offered 526 (584) 9.9% 402 (417) 3.6% 124 (167) 25.7%
Lots Sold 417 (473) 11.8% 316 (327) 3.4% 101 (146) 30.8%
Percent Sold 79.3% (81.0%) 2.1% 78.6% (78.4%) 0.3% 81.5% (87.4%) 6.8%
Total Raised £77.1M (£108.8M) 29.1% £50.4M (£62.1M) 18.8% £26.8M (£46.7M) 42.8%

WalesWales

October 2019 to December 2019 Total Residential Commercial
Lots Offered 507 (593) 14.5% 397 (480) 17.3% 110 (113) 2.7%
Lots Sold 366 (442) 17.2% 300 (361) 16.9% 66 (81) 18.5%
Percent Sold 72.2% (74.5%) 3.1% 75.6% (75.2%) 0.5% 60.0% (71.7%) 16.3%
Total Raised £43.3M (£52.1M) 17.0% £30.0M (£31.1M) 3.7% £13.3M (£21.0M) 36.7%

West-MidlandsWest Midlands

October 2019 to December 2019 Total Residential Commercial
Lots Offered 879 (1,015) 13.4% 760 (854) 11.0% 119 (161) 26.1%
Lots Sold 671 (767) 12.5% 579 (642) 9.8% 92 (125) 26.4%
Percent Sold 76.3% (75.6%) 0.9% 76.2% (75.2%) 1.3% 77.3% (77.6%) 0.4%
Total Raised £96.8M (£118.4M) 18.2% £72.0M (£73.8M) 2.4% £24.7M (£44.6M) 44.5%

Yorkshire-and-The-HumberYorkshire and The Humber

October 2019 to December 2019 Total Residential Commercial
Lots Offered 714 (790) 9.6% 584 (656) 11.0% 130 (134) 3.0%
Lots Sold 533 (636) 16.2% 432 (532) 18.8% 101 (104) 2.9%
Percent Sold 74.6% (80.5%) 7.3% 74.0% (81.1%) 8.8% 77.7% (77.6%) 0.1%
Total Raised £59.7M (£76.4M) 21.8% £37.6M (£48.8M) 23.0% £22.1M (£27.6M) 19.8%

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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