Essential Information Group

October 2020 Newsletter

EIG monthly Newsletter

Essential Auction News

Welcome to the October newsletter that looks back at auction activity in September and preceding periods. A quick look at the results shows 16 green upward arrows indicating that 16 of the 36 metrics we cover showed an increase in % value. This is the highest number of green arrows we have had since COVID-19 broke out. Indeed the total amount raised went up almost 39% and in the commercial sector it was up 153%.

This was mainly due to Allsop Commercial holding a commercial sale in September, their first September sale since we started collecting records in 1990. In this online auction they raised £43M. If we remove this amount from the overall calculation for the amount raised by the industry as a whole, the value of lots sold still increased by 8% when compared with September 2019, and was the first month on month rise in total amount raised since April last year with the exception of June this year that rose by just 0.8%.

The metrics clearly indicate that not only is the industry coping with COVID-19 and all the challenges it throws up, but indeed increasing the value of sales, and demonstrating it has a robust way forward to continue selling by auction in these strange times.

As always I welcome your comments on the newsletter.

Please note the newsletter can also be viewed online.

Overall Statistics September 2020
Auctions Held in the UK 77
Total Lots Offered 3,043
Total Lots Sold 2,372
Percent Sold 77.9%
Total Realised £469,622,502

National Auction Analysis

Overall

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

September 2020 July 2020 to September 2020 October 2019 to September 2020
Lots Offered 3,043 (3,328) 8.6% 6,248 (7,539) 17.1% 23,793 (29,684) 19.8%
Lots Sold 2,372 (2,457) 3.5% 4,959 (5,509) 10.0% 18,257 (22,001) 17.0%
Percent Sold 77.9% (73.8%) 5.6% 79.4% (73.1%) 8.6% 76.7% (74.1%) 3.5%
Total Raised £469.6M (£338.4M) 38.8% £968.3M (£861.6M) 12.4% £3,235.8M (£3,710.0M) 12.8%

Residential

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

September 2020 July 2020 to September 2020 October 2019 to September 2020
Lots Offered 2,605 (2,871) 9.3% 5,378 (6,392) 15.9% 20,314 (25,141) 19.2%
Lots Sold 2,037 (2,124) 4.1% 4,272 (4,654) 8.2% 15,597 (18,583) 16.1%
Percent Sold 78.2% (74.0%) 5.7% 79.4% (72.8%) 9.1% 76.8% (73.9%) 3.9%
Total Raised £361.8M (£295.9M) 22.3% £741.7M (£657.1M) 12.9% £2,387.6M (£2,657.2M) 10.1%

Commercial

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

September 2020 July 2020 to September 2020 October 2019 to September 2020
Lots Offered 438 (457) 4.2% 870 (1,147) 24.1% 3,479 (4,543) 23.4%
Lots Sold 335 (333) 0.6% 687 (855) 19.6% 2,660 (3,418) 22.2%
Percent Sold 76.5% (72.9%) 4.9% 79.0% (74.5%) 6.0% 76.5% (75.2%) 1.7%
Total Raised £107.8M (£42.5M) 153.6% £226.6M (£204.5M) 10.8% £848.2M (£1,052.8M) 19.4%

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)

July 2020 to September 2020 Total Residential Commercial
Lots Offered 266 (317) 16.1% 219 (221) 0.9% 47 (96) 51.0%
Lots Sold 207 (241) 14.1% 167 (154) 8.4% 40 (87) 54.0%
Percent Sold 77.8% (76.0%) 2.4% 76.3% (69.7%) 9.5% 85.1% (90.6%) 6.1%
Total Raised £42.0M (£41.2M) 1.9% £27.9M (£30.3M) 7.9% £14.1M (£10.9M) 29.1%

East-MidlandsEast Midlands

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

July 2020 to September 2020 Total Residential Commercial
Lots Offered 541 (580) 6.7% 457 (491) 6.9% 84 (89) 5.6%
Lots Sold 433 (434) 0.2% 371 (371) 0.0% 62 (63) 1.6%
Percent Sold 80.0% (74.8%) 7.0% 81.2% (75.6%) 7.4% 73.8% (70.8%) 4.2%
Total Raised £71.8M (£55.0M) 30.5% £55.0M (£43.7M) 26.0% £16.8M (£11.4M) 47.8%

LondonLondon

July 2020 to September 2020 Total Residential Commercial
Lots Offered 602 (467) 28.9% 553 (437) 26.5% 49 (30) 63.3%
Lots Sold 481 (346) 39.0% 440 (322) 36.6% 41 (24) 70.8%
Percent Sold 79.9% (74.1%) 7.8% 79.6% (73.7%) 8.0% 83.7% (80.0%) 4.6%
Total Raised £213.7M (£151.5M) 41.1% £173.2M (£131.7M) 31.5% £40.6M (£19.8M) 104.4%

North-EastNorth-East

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

July 2020 to September 2020 Total Residential Commercial
Lots Offered 497 (805) 38.3% 468 (751) 37.7% 29 (54) 46.3%
Lots Sold 411 (559) 26.5% 387 (522) 25.9% 24 (37) 35.1%
Percent Sold 82.7% (69.4%) 19.2% 82.7% (69.5%) 19.0% 82.8% (68.5%) 20.9%
Total Raised £26.3M (£44.9M) 41.3% £20.6M (£34.0M) 39.4% £5.7M (£10.9M) 47.4%

North-WestNorth-West

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

July 2020 to September 2020 Total Residential Commercial
Lots Offered 1,093 (1,233) 11.4% 964 (1,040) 7.3% 129 (193) 33.2%
Lots Sold 815 (878) 7.2% 719 (742) 3.1% 96 (136) 29.4%
Percent Sold 74.6% (71.2%) 4.8% 74.6% (71.3%) 4.6% 74.4% (70.5%) 5.5%
Total Raised £92.3M (£87.0M) 6.1% £75.6M (£65.5M) 15.3% £16.7M (£21.5M) 22.1%

North-West-Home-CountiesNorth-West Home Counties

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

July 2020 to September 2020 Total Residential Commercial
Lots Offered 375 (362) 3.6% 315 (317) 0.6% 60 (45) 33.3%
Lots Sold 295 (272) 8.5% 246 (236) 4.2% 49 (36) 36.1%
Percent Sold 78.7% (75.1%) 4.8% 78.1% (74.4%) 5.0% 81.7% (80.0%) 2.1%
Total Raised £80.6M (£63.2M) 27.5% £65.1M (£43.1M) 51.0% £15.4M (£20.1M) 23.0%

Northern-IrelandNorthern Ireland

July 2020 to September 2020 Total Residential Commercial
Lots Offered 0 (102) 100.0% 0 (82) 100.0% 0 (20) 100.0%
Lots Sold 0 (50) 100.0% 0 (41) 100.0% 0 (9) 100.0%
Percent Sold 0.0% (49.0%) 100.0% 0.0% (50.0%) 100.0% 0.0% (45.0%) 100.0%
Total Raised £0.0M (£4.7M) 100.0% £0.0M (£4.2M) 100.0% £0.0M (£0.5M) 100.0%

ScotlandScotland

July 2020 to September 2020 Total Residential Commercial
Lots Offered 53 (182) 70.9% 22 (149) 85.2% 31 (33) 6.1%
Lots Sold 48 (130) 63.1% 18 (110) 83.6% 30 (20) 50.0%
Percent Sold 90.6% (71.4%) 26.9% 81.8% (73.8%) 10.8% 96.8% (60.6%) 59.7%
Total Raised £11.1M (£7.9M) 40.7% £1.1M (£6.4M) 83.1% £10.1M (£1.5M) 549.4%

South-East-Home-CountiesSouth-East Home Counties

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

July 2020 to September 2020 Total Residential Commercial
Lots Offered 960 (905) 6.1% 801 (766) 4.6% 159 (139) 14.4%
Lots Sold 769 (671) 14.6% 641 (565) 13.5% 128 (106) 20.8%
Percent Sold 80.1% (74.1%) 8.1% 80.0% (73.8%) 8.4% 80.5% (76.3%) 5.5%
Total Raised £194.1M (£139.5M) 39.1% £140.8M (£104.3M) 35.0% £53.3M (£35.2M) 51.5%

South-WestSouth-West

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

July 2020 to September 2020 Total Residential Commercial
Lots Offered 442 (497) 11.1% 341 (375) 9.1% 101 (122) 17.2%
Lots Sold 368 (365) 0.8% 285 (274) 4.0% 83 (91) 8.8%
Percent Sold 83.3% (73.4%) 13.5% 83.6% (73.1%) 14.4% 82.2% (74.6%) 10.2%
Total Raised £85.3M (£66.2M) 28.9% £62.6M (£50.5M) 24.1% £22.7M (£15.7M) 44.2%

WalesWales

July 2020 to September 2020 Total Residential Commercial
Lots Offered 354 (472) 25.0% 297 (380) 21.8% 57 (92) 38.0%
Lots Sold 268 (329) 18.5% 226 (270) 16.3% 42 (59) 28.8%
Percent Sold 75.7% (69.7%) 8.6% 76.1% (71.1%) 7.0% 73.7% (64.1%) 15.0%
Total Raised £33.6M (£35.5M) 5.2% £22.6M (£26.4M) 14.1% £11.0M (£9.1M) 20.4%

West-MidlandsWest Midlands

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

July 2020 to September 2020 Total Residential Commercial
Lots Offered 645 (896) 28.0% 587 (773) 24.1% 58 (123) 52.8%
Lots Sold 529 (668) 20.8% 484 (568) 14.8% 45 (100) 55.0%
Percent Sold 82.0% (74.6%) 9.9% 82.5% (73.5%) 12.2% 77.6% (81.3%) 4.6%
Total Raised £76.6M (£96.7M) 20.8% £65.9M (£70.6M) 6.7% £10.7M (£26.1M) 59.0%

Yorkshire-and-The-HumberYorkshire and The Humber

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

July 2020 to September 2020 Total Residential Commercial
Lots Offered 420 (721) 41.7% 354 (610) 42.0% 66 (111) 40.5%
Lots Sold 335 (566) 40.8% 288 (479) 39.9% 47 (87) 46.0%
Percent Sold 79.8% (78.5%) 1.7% 81.4% (78.5%) 3.7% 71.2% (78.4%) 9.2%
Total Raised £40.6M (£68.2M) 40.4% £31.2M (£46.6M) 33.0% £9.4M (£21.6M) 56.3%

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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