Essential Information Group

July 2020 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the July newsletter that looks back at auction activity in June and preceding periods. Regular readers of our newsletter will recall that for the past three months the value of sold lots has been running at approximately 50% when compared with the same month last year. Whilst the industry felt a significant ‘uptick’ in activity for June, it came as a pleasant surprise when reviewing the ‘numbers’ that the value of sales raised by the industry in June was up on last year, by 0.8%.

Whilst the residential revenue slipped 3% the commercial revenue was up 24%. This was in some part due to Allsop Commercial holding a June sale in addition to the normal auction calendar. It is also interesting to note that whilst overall the number of lots offered fell by 29% the percent selling went up by 13.5% to 80.8%.

This growth was to be expected owing to the easing of viewings and inspections (though neither are back to the flexibility seen pre COVID-19), and I think we can look forward to similar numbers for the July sales.

As ever, I welcome any comments you may have.

Please note the newsletter can also be viewed online.

Overall Statistics June 2020
Auctions Held in the UK 43
Total Lots Offered 1,418
Total Lots Sold 1,146
Percent Sold 80.8%
Total Realised £199,017,266

National Auction Analysis

Overall

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

June 2020 April 2020 to June 2020 July 2019 to June 2020
Lots Offered 1,418 (1,993) 28.9% 3,860 (7,240) 46.7% 24,759 (30,184) 18.0%
Lots Sold 1,146 (1,420) 19.3% 2,938 (5,349) 45.1% 18,673 (22,373) 16.5%
Percent Sold 80.8% (71.2%) 13.5% 76.1% (73.9%) 3.0% 75.4% (74.1%) 1.8%
Total Raised £199.0M (£197.5M) 0.8% £503.5M (£861.5M) 41.6% £3,115.0M (£3,819.6M) 18.4%

Residential

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

June 2020 April 2020 to June 2020 July 2019 to June 2020
Lots Offered 1,258 (1,698) 25.9% 3,381 (6,174) 45.2% 21,069 (25,551) 17.5%
Lots Sold 1,026 (1,220) 15.9% 2,572 (4,590) 44.0% 15,897 (18,905) 15.9%
Percent Sold 81.6% (71.8%) 13.6% 76.1% (74.3%) 2.4% 75.5% (74.0%) 2.0%
Total Raised £165.1M (£170.1M) 3.0% £394.8M (£646.6M) 38.9% £2,315.9M (£2,740.0M) 15.5%

Commercial

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

June 2020 April 2020 to June 2020 July 2019 to June 2020
Lots Offered 160 (295) 45.8% 479 (1,066) 55.1% 3,690 (4,633) 20.4%
Lots Sold 120 (200) 40.0% 366 (759) 51.8% 2,776 (3,468) 20.0%
Percent Sold 75.0% (67.8%) 10.6% 76.4% (71.2%) 7.3% 75.2% (74.9%) 0.4%
Total Raised £33.9M (£27.4M) 24.0% £108.7M (£214.9M) 49.4% £799.1M (£1,079.6M) 26.0%

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

(Includes Cambridgeshire, Norfolk, Suffolk)

April 2020 to June 2020 Total Residential Commercial
Lots Offered 182 (294) 38.1% 154 (241) 36.1% 28 (53) 47.2%
Lots Sold 130 (189) 31.2% 107 (152) 29.6% 23 (37) 37.8%
Percent Sold 71.4% (64.3%) 11.0% 69.5% (63.1%) 10.1% 82.1% (69.8%) 17.6%
Total Raised £19.1M (£32.5M) 41.1% £14.8M (£23.2M) 36.0% £4.3M (£9.3M) 53.8%

East-MidlandsEast Midlands

(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)

April 2020 to June 2020 Total Residential Commercial
Lots Offered 277 (504) 45.0% 241 (426) 43.4% 36 (78) 53.8%
Lots Sold 215 (388) 44.6% 189 (338) 44.1% 26 (50) 48.0%
Percent Sold 77.6% (77.0%) 0.8% 78.4% (79.3%) 1.1% 72.2% (64.1%) 12.6%
Total Raised £30.8M (£57.1M) 46.0% £23.4M (£44.5M) 47.4% £7.4M (£12.5M) 40.8%

LondonLondon

April 2020 to June 2020 Total Residential Commercial
Lots Offered 378 (466) 18.9% 351 (420) 16.4% 27 (46) 41.3%
Lots Sold 293 (329) 10.9% 269 (298) 9.7% 24 (31) 22.6%
Percent Sold 77.5% (70.6%) 9.8% 76.6% (71.0%) 7.9% 88.9% (67.4%) 31.9%
Total Raised £135.1M (£155.1M) 12.8% £108.2M (£124.1M) 12.8% £27.0M (£31.0M) 13.0%

North-EastNorth-East

(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)

April 2020 to June 2020 Total Residential Commercial
Lots Offered 210 (693) 69.7% 200 (648) 69.1% 10 (45) 77.8%
Lots Sold 172 (523) 67.1% 164 (498) 67.1% 8 (25) 68.0%
Percent Sold 81.9% (75.5%) 8.5% 82.0% (76.9%) 6.6% 80.0% (55.6%) 43.9%
Total Raised £8.9M (£40.7M) 78.1% £7.9M (£32.7M) 75.8% £1.0M (£8.0M) 87.2%

North-WestNorth-West

(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)

April 2020 to June 2020 Total Residential Commercial
Lots Offered 807 (1,166) 30.8% 703 (994) 29.3% 104 (172) 39.5%
Lots Sold 577 (840) 31.3% 507 (737) 31.2% 70 (103) 32.0%
Percent Sold 71.5% (72.0%) 0.7% 72.1% (74.1%) 2.7% 67.3% (59.9%) 12.4%
Total Raised £54.8M (£84.3M) 35.0% £46.0M (£64.5M) 28.7% £8.8M (£19.8M) 55.4%

North-West-Home-CountiesNorth-West Home Counties

(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)

April 2020 to June 2020 Total Residential Commercial
Lots Offered 271 (421) 35.6% 251 (383) 34.5% 20 (38) 47.4%
Lots Sold 217 (332) 34.6% 201 (299) 32.8% 16 (33) 51.5%
Percent Sold 80.1% (78.9%) 1.5% 80.1% (78.1%) 2.6% 80.0% (86.8%) 7.8%
Total Raised £37.3M (£80.4M) 53.6% £30.9M (£62.2M) 50.3% £6.4M (£18.2M) 64.6%

Northern-IrelandNorthern Ireland

April 2020 to June 2020 Total Residential Commercial
Lots Offered 0 (133) 100.0% 0 (106) 100.0% 0 (27) 100.0%
Lots Sold 0 (68) 100.0% 0 (63) 100.0% 0 (5) 100.0%
Percent Sold 0.0% (51.1%) 100.0% 0.0% (59.4%) 100.0% 0.0% (18.5%) 100.0%
Total Raised £0.0M (£6.4M) 100.0% £0.0M (£5.9M) 100.0% £0.0M (£0.4M) 100.0%

ScotlandScotland

April 2020 to June 2020 Total Residential Commercial
Lots Offered 35 (241) 85.5% 12 (186) 93.5% 23 (55) 58.2%
Lots Sold 23 (170) 86.5% 9 (130) 93.1% 14 (40) 65.0%
Percent Sold 65.7% (70.5%) 6.8% 75.0% (69.9%) 7.3% 60.9% (72.7%) 16.2%
Total Raised £4.3M (£17.7M) 75.5% £0.5M (£7.5M) 93.6% £3.9M (£10.2M) 62.2%

South-East-Home-CountiesSouth-East Home Counties

(Includes East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex, Channel Islands)

April 2020 to June 2020 Total Residential Commercial
Lots Offered 595 (923) 35.5% 533 (802) 33.5% 62 (121) 48.8%
Lots Sold 455 (689) 34.0% 409 (592) 30.9% 46 (97) 52.6%
Percent Sold 76.5% (74.6%) 2.5% 76.7% (73.8%) 3.9% 74.2% (80.2%) 7.5%
Total Raised £89.8M (£146.7M) 38.8% £75.2M (£107.3M) 29.9% £14.5M (£39.3M) 63.1%

South-WestSouth-West

(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset, Wiltshire, Isles of Scilly)

April 2020 to June 2020 Total Residential Commercial
Lots Offered 272 (555) 51.0% 232 (433) 46.4% 40 (122) 67.2%
Lots Sold 213 (435) 51.0% 179 (331) 45.9% 34 (104) 67.3%
Percent Sold 78.3% (78.4%) 0.1% 77.2% (76.4%) 1.0% 85.0% (85.2%) 0.2%
Total Raised £35.4M (£72.9M) 51.4% £26.3M (£55.2M) 52.3% £9.1M (£17.7M) 48.6%

WalesWales

April 2020 to June 2020 Total Residential Commercial
Lots Offered 209 (522) 60.0% 168 (415) 59.5% 41 (107) 61.7%
Lots Sold 149 (356) 58.1% 119 (285) 58.2% 30 (71) 57.7%
Percent Sold 71.3% (68.2%) 4.5% 70.8% (68.7%) 3.1% 73.2% (66.4%) 10.2%
Total Raised £15.8M (£38.7M) 59.2% £10.4M (£26.5M) 60.5% £5.3M (£12.2M) 56.3%

West-MidlandsWest Midlands

(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)

April 2020 to June 2020 Total Residential Commercial
Lots Offered 399 (739) 46.0% 358 (633) 43.4% 41 (106) 61.3%
Lots Sold 311 (575) 45.9% 278 (492) 43.5% 33 (83) 60.2%
Percent Sold 77.9% (77.8%) 0.1% 77.7% (77.7%) 0.0% 80.5% (78.3%) 2.8%
Total Raised £49.9M (£81.8M) 39.1% £39.0M (£59.8M) 34.8% £10.8M (£22.0M) 50.7%

Yorkshire-and-The-HumberYorkshire and The Humber

(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)

April 2020 to June 2020 Total Residential Commercial
Lots Offered 225 (583) 61.4% 178 (487) 63.4% 47 (96) 51.0%
Lots Sold 183 (455) 59.8% 141 (375) 62.4% 42 (80) 47.5%
Percent Sold 81.3% (78.0%) 4.2% 79.2% (77.0%) 2.9% 89.4% (83.3%) 7.3%
Total Raised £22.2M (£47.4M) 53.2% £12.1M (£33.2M) 63.5% £10.1M (£14.2M) 29.2%

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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