Essential Auction News
Welcome to the June newsletter that looks back at auction activity in May and preceding periods. May was the second month in which the industry was under total lockdown and unlike some of the April auctions, there was very limited opportunity for auctioneers to both inspect the properties and arrange viewings. A difficult background from which to conduct auctions.
Notwithstanding this, you will see from the figures that not only did the percent sold rise to 78% overall (one of the highest we have seen for some while), but also the % drop on last year’s figure for total amount raised in May was less than 50% (the drop recorded for April’s auctions was 56%). You will also note that the sales rate for the commercial sector rose to 83%, and the amount raised was down ‘just’ 39.9% when compared with May last year.
Recently we saw restrictions on estate agents and auction easing so that inspections and viewings are now possible, subject to complying with Covid-19 regulations. This will in turn lead, I believe, to further recovery in June and the months following. Virtually every auctioneer has now held at least two auctions since lockdown and have found a robust and viable way of conducting room auctions online given that it may be some while before we can return to the room.
As always I welcome comments and your views on the market and I wish you well in these difficult times.
Please note the newsletter can also be viewed online. |
|
Overall Statistics May 2020 |
| Auctions Held in the UK |
32 |
| Total Lots Offered |
1,137 |
| Total Lots Sold |
894 |
| Percent Sold |
78.6% |
| Total Realised |
£192,592,156 |
|
|
National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
May 2020 |
March 2020 to May 2020 |
June 2019 to May 2020 |
| Lots Offered |
1,137 (2,932) |
▼ 61.2% |
4,094 (7,483) |
▼ 45.3% |
25,297 (30,474) |
▼ 17.0% |
| Lots Sold |
894 (2,181) |
▼ 59.0% |
2,927 (5,551) |
▼ 47.3% |
18,964 (22,554) |
▼ 15.9% |
| Percent Sold |
78.6% (74.4%) |
▲ 5.6% |
71.5% (74.2%) |
▼ 3.6% |
75.0% (74.0%) |
▲ 1.4% |
| Total Raised |
£192.6M (£383.4M) |
▼ 49.8% |
£490.9M (£927.3M) |
▼ 47.1% |
£3,113.6M (£3,818.6M) |
▼ 18.5% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
May 2020 |
March 2020 to May 2020 |
June 2019 to May 2020 |
| Lots Offered |
966 (2,464) |
▼ 60.8% |
3,524 (6,436) |
▼ 45.2% |
21,474 (25,814) |
▼ 16.8% |
| Lots Sold |
752 (1,854) |
▼ 59.4% |
2,513 (4,802) |
▼ 47.7% |
16,104 (19,078) |
▼ 15.6% |
| Percent Sold |
77.8% (75.2%) |
▲ 3.5% |
71.3% (74.6%) |
▼ 4.4% |
75.0% (73.9%) |
▲ 1.5% |
| Total Raised |
£126.9M (£274.2M) |
▼ 53.7% |
£367.6M (£685.5M) |
▼ 46.4% |
£2,321.2M (£2,766.3M) |
▼ 16.1% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
May 2020 |
March 2020 to May 2020 |
June 2019 to May 2020 |
| Lots Offered |
171 (468) |
▼ 63.5% |
570 (1,047) |
▼ 45.6% |
3,823 (4,660) |
▼ 18.0% |
| Lots Sold |
142 (327) |
▼ 56.6% |
414 (749) |
▼ 44.7% |
2,860 (3,476) |
▼ 17.7% |
| Percent Sold |
83.0% (69.9%) |
▲ 18.7% |
72.6% (71.5%) |
▲ 1.5% |
74.8% (74.6%) |
▲ 0.3% |
| Total Raised |
£65.7M (£109.2M) |
▼ 39.9% |
£123.3M (£241.8M) |
▼ 49.0% |
£792.4M (£1,052.3M) |
▼ 24.7% |
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 Anglia
(Includes Cambridgeshire, Norfolk, Suffolk)
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
160 (219) |
▼ 26.9% |
130 (173) |
▼ 24.9% |
30 (46) |
▼ 34.8% |
| Lots Sold |
110 (156) |
▼ 29.5% |
87 (120) |
▼ 27.5% |
23 (36) |
▼ 36.1% |
| Percent Sold |
68.8% (71.2%) |
▼ 3.4% |
66.9% (69.4%) |
▼ 3.6% |
76.7% (78.3%) |
▼ 2.0% |
| Total Raised |
£16.4M (£29.6M) |
▼ 44.6% |
£11.7M (£18.6M) |
▼ 36.9% |
£4.7M (£11.0M) |
▼ 57.5% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
278 (512) |
▼ 45.7% |
243 (421) |
▼ 42.3% |
35 (91) |
▼ 61.5% |
| Lots Sold |
209 (383) |
▼ 45.4% |
184 (324) |
▼ 43.2% |
25 (59) |
▼ 57.6% |
| Percent Sold |
75.2% (74.8%) |
▲ 0.5% |
75.7% (77.0%) |
▼ 1.7% |
71.4% (64.8%) |
▲ 10.2% |
| Total Raised |
£24.0M (£59.5M) |
▼ 59.7% |
£20.4M (£40.6M) |
▼ 49.8% |
£3.6M (£18.8M) |
▼ 81.0% |
 London
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
348 (563) |
▼ 38.2% |
322 (509) |
▼ 36.7% |
26 (54) |
▼ 51.9% |
| Lots Sold |
255 (391) |
▼ 34.8% |
234 (357) |
▼ 34.5% |
21 (34) |
▼ 38.2% |
| Percent Sold |
73.3% (69.4%) |
▲ 5.6% |
72.7% (70.1%) |
▲ 3.7% |
80.8% (63.0%) |
▲ 28.3% |
| Total Raised |
£128.6M (£184.9M) |
▼ 30.4% |
£102.0M (£149.9M) |
▼ 31.9% |
£26.6M (£35.0M) |
▼ 24.0% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
283 (752) |
▼ 62.4% |
269 (712) |
▼ 62.2% |
14 (40) |
▼ 65.0% |
| Lots Sold |
173 (575) |
▼ 69.9% |
166 (550) |
▼ 69.8% |
7 (25) |
▼ 72.0% |
| Percent Sold |
61.1% (76.5%) |
▼ 20.1% |
61.7% (77.2%) |
▼ 20.1% |
50.0% (62.5%) |
▼ 20.0% |
| Total Raised |
£10.8M (£45.2M) |
▼ 76.2% |
£9.6M (£37.3M) |
▼ 74.2% |
£1.1M (£7.9M) |
▼ 85.5% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
829 (1,148) |
▼ 27.8% |
711 (997) |
▼ 28.7% |
118 (151) |
▼ 21.9% |
| Lots Sold |
568 (834) |
▼ 31.9% |
494 (741) |
▼ 33.3% |
74 (93) |
▼ 20.4% |
| Percent Sold |
68.5% (72.6%) |
▼ 5.6% |
69.5% (74.3%) |
▼ 6.5% |
62.7% (61.6%) |
▲ 1.8% |
| Total Raised |
£53.9M (£83.0M) |
▼ 35.0% |
£40.6M (£59.5M) |
▼ 31.7% |
£13.3M (£23.5M) |
▼ 43.4% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
257 (413) |
▼ 37.8% |
230 (371) |
▼ 38.0% |
27 (42) |
▼ 35.7% |
| Lots Sold |
200 (331) |
▼ 39.6% |
180 (294) |
▼ 38.8% |
20 (37) |
▼ 45.9% |
| Percent Sold |
77.8% (80.1%) |
▼ 2.9% |
78.3% (79.2%) |
▼ 1.1% |
74.1% (88.1%) |
▼ 15.9% |
| Total Raised |
£36.4M (£83.7M) |
▼ 56.5% |
£27.4M (£63.5M) |
▼ 56.9% |
£9.1M (£20.2M) |
▼ 55.1% |
 Northern Ireland
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
0 (99) |
▼ 100.0% |
0 (82) |
▼ 100.0% |
0 (17) |
▼ 100.0% |
| Lots Sold |
0 (48) |
▼ 100.0% |
0 (45) |
▼ 100.0% |
0 (3) |
▼ 100.0% |
| Percent Sold |
0.0% (48.5%) |
▼ 100.0% |
0.0% (54.9%) |
▼ 100.0% |
0.0% (17.6%) |
▼ 100.0% |
| Total Raised |
£0.0M (£4.3M) |
▼ 100.0% |
£0.0M (£4.1M) |
▼ 100.0% |
£0.0M (£0.2M) |
▼ 100.0% |
 Scotland
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
44 (192) |
▼ 77.1% |
20 (152) |
▼ 86.8% |
24 (40) |
▼ 40.0% |
| Lots Sold |
32 (123) |
▼ 74.0% |
14 (93) |
▼ 84.9% |
18 (30) |
▼ 40.0% |
| Percent Sold |
72.7% (64.1%) |
▲ 13.4% |
70.0% (61.2%) |
▲ 14.4% |
75.0% (75.0%) |
▼ 0.0% |
| Total Raised |
£6.4M (£12.3M) |
▼ 48.1% |
£0.7M (£4.8M) |
▼ 85.7% |
£5.7M (£7.5M) |
▼ 24.1% |
 South-East Home Counties
(Includes East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex, Channel Islands)
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
662 (1,067) |
▼ 38.0% |
577 (928) |
▼ 37.8% |
85 (139) |
▼ 38.8% |
| Lots Sold |
472 (788) |
▼ 40.1% |
409 (688) |
▼ 40.6% |
63 (100) |
▼ 37.0% |
| Percent Sold |
71.3% (73.9%) |
▼ 3.5% |
70.9% (74.1%) |
▼ 4.3% |
74.1% (71.9%) |
▲ 3.1% |
| Total Raised |
£96.5M (£166.8M) |
▼ 42.1% |
£73.2M (£124.4M) |
▼ 41.1% |
£23.2M (£42.3M) |
▼ 45.1% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset, Wiltshire, Isles of Scilly)
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
259 (491) |
▼ 47.3% |
214 (371) |
▼ 42.3% |
45 (120) |
▼ 62.5% |
| Lots Sold |
195 (373) |
▼ 47.7% |
156 (272) |
▼ 42.6% |
39 (101) |
▼ 61.4% |
| Percent Sold |
75.3% (76.0%) |
▼ 0.9% |
72.9% (73.3%) |
▼ 0.5% |
86.7% (84.2%) |
▲ 3.0% |
| Total Raised |
£28.3M (£61.8M) |
▼ 54.2% |
£20.7M (£43.0M) |
▼ 51.8% |
£7.5M (£18.8M) |
▼ 59.8% |
 Wales
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
282 (484) |
▼ 41.7% |
221 (386) |
▼ 42.7% |
61 (98) |
▼ 37.8% |
| Lots Sold |
195 (340) |
▼ 42.6% |
153 (275) |
▼ 44.4% |
42 (65) |
▼ 35.4% |
| Percent Sold |
69.1% (70.2%) |
▼ 1.6% |
69.2% (71.2%) |
▼ 2.8% |
68.9% (66.3%) |
▲ 3.9% |
| Total Raised |
£23.4M (£38.8M) |
▼ 39.7% |
£14.5M (£25.0M) |
▼ 42.1% |
£8.9M (£13.7M) |
▼ 35.3% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
395 (948) |
▼ 58.3% |
348 (836) |
▼ 58.4% |
47 (112) |
▼ 58.0% |
| Lots Sold |
284 (726) |
▼ 60.9% |
248 (639) |
▼ 61.2% |
36 (87) |
▼ 58.6% |
| Percent Sold |
71.9% (76.6%) |
▼ 6.1% |
71.3% (76.4%) |
▼ 6.7% |
76.6% (77.7%) |
▼ 1.4% |
| Total Raised |
£38.1M (£101.5M) |
▼ 62.5% |
£29.6M (£77.1M) |
▼ 61.7% |
£8.5M (£24.4M) |
▼ 65.0% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| March 2020 to May 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
297 (595) |
▼ 50.1% |
239 (498) |
▼ 52.0% |
58 (97) |
▼ 40.2% |
| Lots Sold |
234 (483) |
▼ 51.6% |
188 (404) |
▼ 53.5% |
46 (79) |
▼ 41.8% |
| Percent Sold |
78.8% (81.2%) |
▼ 3.0% |
78.7% (81.1%) |
▼ 3.0% |
79.3% (81.4%) |
▼ 2.6% |
| Total Raised |
£28.3M (£56.0M) |
▼ 49.5% |
£17.2M (£37.6M) |
▼ 54.2% |
£11.1M (£18.4M) |
▼ 40.0% |
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
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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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