Essential Auction News
Welcome to the May newsletter that looks back at auction activity in April and preceding periods. Last month's newsletter (April’s reporting on March) reported on the transition from a completely open market to one where in the latter part of the month we were under lockdown and unable to continue business in the usual fashion without restriction.
Notwithstanding that, April saw a number of auctions held and indeed a great deal of stock sold. The number of lots offered was down 43% and amount raised down 56%. Against the backdrop of all the auction teams having to work from home, viewings virtually impossible or at the very least difficult, I feel the results are a credit to the industry. More importantly virtually every auction house now has at least one or two auctions behind them in the lockdown environment, and all are planning their future auctions which hopefully will take place under reduced lockdown restrictions.
Anecdotally, we are seeing the number of lots offered in the recent and upcoming auctions being an increase on the lots offered in the auctions which took place immediately after lockdown. Whilst I don't feel we will see an immediate return to pre Covid-19 numbers, I do feel the number lots offered and sold will gradually move up as committed vendors and buyers are able to trade in the open and practical property auction market using auctions that are either ‘live streamed’ from an auction room with all bids coming in remotely, or in a totally online auction environment.
As always I welcome comments and your views on the market, and I wish you and your colleagues well in these difficult times.
Please note the newsletter can also be viewed online. |
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Overall Statistics April 2020 |
| Auctions Held in the UK |
486 |
| Total Lots Offered |
1,305 |
| Total Lots Sold |
877 |
| Percent Sold |
67.2% |
| Total Realised |
£107,805,916 |
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National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
April 2020 |
February 2020 to April 2020 |
May 2019 to April 2020 |
| Lots Offered |
1,305 (2,292) |
▼ 43.1% |
6,603 (8,017) |
▼ 17.6% |
27,416 (31,096) |
▼ 11.8% |
| Lots Sold |
877 (1,676) |
▼ 47.7% |
4,871 (5,996) |
▼ 18.8% |
20,561 (22,997) |
▼ 10.6% |
| Percent Sold |
67.2% (73.1%) |
▼ 8.1% |
73.8% (74.8%) |
▼ 1.3% |
75.0% (74.0%) |
▲ 1.4% |
| Total Raised |
£107.8M (£244.8M) |
▼ 56.0% |
£793.9M (£1,038.0M) |
▼ 23.5% |
£3,375.7M (£3,980.9M) |
▼ 15.2% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
April 2020 |
February 2020 to April 2020 |
May 2019 to April 2020 |
| Lots Offered |
1,153 (1,991) |
▼ 42.1% |
5,627 (6,915) |
▼ 18.6% |
23,214 (26,251) |
▼ 11.6% |
| Lots Sold |
775 (1,463) |
▼ 47.0% |
4,170 (5,170) |
▼ 19.3% |
17,433 (19,333) |
▼ 9.8% |
| Percent Sold |
67.2% (73.5%) |
▼ 8.6% |
74.1% (74.8%) |
▼ 0.9% |
75.1% (73.6%) |
▲ 2.0% |
| Total Raised |
£99.4M (£194.1M) |
▼ 48.8% |
£619.8M (£750.9M) |
▼ 17.5% |
£2,518.5M (£2,857.2M) |
▼ 11.9% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
April 2020 |
February 2020 to April 2020 |
May 2019 to April 2020 |
| Lots Offered |
152 (301) |
▼ 49.5% |
976 (1,102) |
▼ 11.4% |
4,202 (4,845) |
▼ 13.3% |
| Lots Sold |
102 (213) |
▼ 52.1% |
701 (826) |
▼ 15.1% |
3,128 (3,664) |
▼ 14.6% |
| Percent Sold |
67.1% (70.8%) |
▼ 5.2% |
71.8% (75.0%) |
▼ 4.3% |
74.4% (75.6%) |
▼ 1.6% |
| Total Raised |
£8.4M (£50.7M) |
▼ 83.4% |
£174.1M (£287.1M) |
▼ 39.4% |
£857.2M (£1,123.6M) |
▼ 23.7% |
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
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
251 (300) |
▼ 16.3% |
206 (241) |
▼ 14.5% |
45 (59) |
▼ 23.7% |
| Lots Sold |
166 (208) |
▼ 20.2% |
136 (162) |
▼ 16.0% |
30 (46) |
▼ 34.8% |
| Percent Sold |
66.1% (69.3%) |
▼ 4.6% |
66.0% (67.2%) |
▼ 1.8% |
66.7% (78.0%) |
▼ 14.5% |
| Total Raised |
£22.8M (£37.6M) |
▼ 39.2% |
£17.7M (£24.8M) |
▼ 28.4% |
£5.1M (£12.8M) |
▼ 60.2% |
 East Midlands
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
481 (552) |
▼ 12.9% |
411 (465) |
▼ 11.6% |
70 (87) |
▼ 19.5% |
| Lots Sold |
373 (417) |
▼ 10.6% |
319 (357) |
▼ 10.6% |
54 (60) |
▼ 10.0% |
| Percent Sold |
77.5% (75.5%) |
▲ 2.6% |
77.6% (76.8%) |
▲ 1.0% |
77.1% (69.0%) |
▲ 11.7% |
| Total Raised |
£50.9M (£61.6M) |
▼ 17.2% |
£37.4M (£43.0M) |
▼ 13.0% |
£13.6M (£18.6M) |
▼ 27.0% |
 London
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
523 (652) |
▼ 19.8% |
493 (587) |
▼ 16.0% |
30 (65) |
▼ 53.8% |
| Lots Sold |
424 (477) |
▼ 11.1% |
399 (428) |
▼ 6.8% |
25 (49) |
▼ 49.0% |
| Percent Sold |
81.1% (73.2%) |
▲ 10.8% |
80.9% (72.9%) |
▲ 11.0% |
83.3% (75.4%) |
▲ 10.5% |
| Total Raised |
£170.6M (£226.6M) |
▼ 24.7% |
£158.6M (£174.8M) |
▼ 9.3% |
£12.0M (£51.7M) |
▼ 76.9% |
 North-East
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
562 (747) |
▼ 24.8% |
530 (703) |
▼ 24.6% |
32 (44) |
▼ 27.3% |
| Lots Sold |
349 (579) |
▼ 39.7% |
336 (549) |
▼ 38.8% |
13 (30) |
▼ 56.7% |
| Percent Sold |
62.1% (77.5%) |
▼ 19.9% |
63.4% (78.1%) |
▼ 18.8% |
40.6% (68.2%) |
▼ 40.5% |
| Total Raised |
£20.2M (£44.1M) |
▼ 54.1% |
£19.3M (£35.7M) |
▼ 45.8% |
£0.9M (£8.4M) |
▼ 89.2% |
 North-West
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
1,226 (1,385) |
▼ 11.5% |
1,011 (1,178) |
▼ 14.2% |
215 (207) |
▲ 3.9% |
| Lots Sold |
853 (1,019) |
▼ 16.3% |
710 (878) |
▼ 19.1% |
143 (141) |
▲ 1.4% |
| Percent Sold |
69.6% (73.6%) |
▼ 5.4% |
70.2% (74.5%) |
▼ 5.8% |
66.5% (68.1%) |
▼ 2.3% |
| Total Raised |
£88.1M (£100.1M) |
▼ 11.9% |
£59.8M (£71.3M) |
▼ 16.1% |
£28.3M (£28.8M) |
▼ 1.8% |
 North-West Home Counties
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
376 (381) |
▼ 1.3% |
319 (344) |
▼ 7.3% |
57 (37) |
▲ 54.1% |
| Lots Sold |
287 (295) |
▼ 2.7% |
242 (263) |
▼ 8.0% |
45 (32) |
▲ 40.6% |
| Percent Sold |
76.3% (77.4%) |
▼ 1.4% |
75.9% (76.5%) |
▼ 0.8% |
78.9% (86.5%) |
▼ 8.8% |
| Total Raised |
£56.6M (£79.9M) |
▼ 29.2% |
£41.6M (£65.1M) |
▼ 36.1% |
£14.9M (£14.8M) |
▲ 1.1% |
 Northern Ireland
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
66 (137) |
▼ 51.8% |
59 (121) |
▼ 51.2% |
7 (16) |
▼ 56.3% |
| Lots Sold |
31 (62) |
▼ 50.0% |
30 (57) |
▼ 47.4% |
1 (5) |
▼ 80.0% |
| Percent Sold |
47.0% (45.3%) |
▲ 3.8% |
50.8% (47.1%) |
▲ 7.9% |
14.3% (31.3%) |
▼ 54.3% |
| Total Raised |
£2.3M (£5.6M) |
▼ 58.6% |
£2.2M (£5.4M) |
▼ 59.1% |
£0.1M (£0.2M) |
▼ 45.3% |
 Scotland
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
106 (134) |
▼ 20.9% |
64 (109) |
▼ 41.3% |
42 (25) |
▲ 68.0% |
| Lots Sold |
79 (94) |
▼ 16.0% |
43 (72) |
▼ 40.3% |
36 (22) |
▲ 63.6% |
| Percent Sold |
74.5% (70.1%) |
▲ 6.3% |
67.2% (66.1%) |
▲ 1.7% |
85.7% (88.0%) |
▼ 2.6% |
| Total Raised |
£9.3M (£8.4M) |
▲ 10.4% |
£2.5M (£3.9M) |
▼ 34.8% |
£6.7M (£4.5M) |
▲ 49.8% |
 South-East Home Counties
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
923 (1,141) |
▼ 19.1% |
785 (987) |
▼ 20.5% |
138 (154) |
▼ 10.4% |
| Lots Sold |
702 (853) |
▼ 17.7% |
594 (738) |
▼ 19.5% |
108 (115) |
▼ 6.1% |
| Percent Sold |
76.1% (74.8%) |
▲ 1.7% |
75.7% (74.8%) |
▲ 1.2% |
78.3% (74.7%) |
▲ 4.8% |
| Total Raised |
£152.8M (£199.1M) |
▼ 23.3% |
£117.3M (£139.8M) |
▼ 16.1% |
£35.5M (£59.4M) |
▼ 40.2% |
 South-West
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
424 (536) |
▼ 20.9% |
348 (422) |
▼ 17.5% |
76 (114) |
▼ 33.3% |
| Lots Sold |
346 (418) |
▼ 17.2% |
282 (318) |
▼ 11.3% |
64 (100) |
▼ 36.0% |
| Percent Sold |
81.6% (78.0%) |
▲ 4.6% |
81.0% (75.4%) |
▲ 7.4% |
84.2% (87.7%) |
▼ 4.0% |
| Total Raised |
£66.2M (£75.3M) |
▼ 12.1% |
£50.9M (£49.6M) |
▲ 2.7% |
£15.3M (£25.7M) |
▼ 40.7% |
 Wales
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
472 (511) |
▼ 7.6% |
377 (428) |
▼ 11.9% |
95 (83) |
▲ 14.5% |
| Lots Sold |
336 (362) |
▼ 7.2% |
276 (306) |
▼ 9.8% |
60 (56) |
▲ 7.1% |
| Percent Sold |
71.2% (70.8%) |
▲ 0.6% |
73.2% (71.5%) |
▲ 2.4% |
63.2% (67.5%) |
▼ 6.4% |
| Total Raised |
£34.9M (£38.8M) |
▼ 9.9% |
£24.5M (£24.5M) |
▼ 0.1% |
£10.4M (£14.3M) |
▼ 26.7% |
 West Midlands
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
608 (850) |
▼ 28.5% |
533 (746) |
▼ 28.6% |
75 (104) |
▼ 27.9% |
| Lots Sold |
476 (634) |
▼ 24.9% |
421 (559) |
▼ 24.7% |
55 (75) |
▼ 26.7% |
| Percent Sold |
78.3% (74.6%) |
▲ 5.0% |
79.0% (74.9%) |
▲ 5.5% |
73.3% (72.1%) |
▲ 1.7% |
| Total Raised |
£65.6M (£89.2M) |
▼ 26.4% |
£51.8M (£66.7M) |
▼ 22.4% |
£13.8M (£22.5M) |
▼ 38.5% |
 Yorkshire and The Humber
| February 2020 to April 2020 |
Total |
Residential |
Commercial |
| Lots Offered |
585 (691) |
▼ 15.3% |
491 (584) |
▼ 15.9% |
94 (107) |
▼ 12.1% |
| Lots Sold |
449 (578) |
▼ 22.3% |
382 (483) |
▼ 20.9% |
67 (95) |
▼ 29.5% |
| Percent Sold |
76.8% (83.6%) |
▼ 8.1% |
77.8% (82.7%) |
▼ 5.9% |
71.3% (88.8%) |
▼ 19.7% |
| Total Raised |
£53.5M (£71.8M) |
▼ 25.5% |
£36.0M (£46.3M) |
▼ 22.2% |
£17.5M (£25.5M) |
▼ 31.5% |
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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