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EIG News June 2020

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



Overall



N.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%











Residential



N.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%











Commercial



N.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-AngliaEast 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-MidlandsEast 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%











LondonLondon















































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-EastNorth-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-WestNorth-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-CountiesNorth-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-IrelandNorthern 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%











ScotlandScotland















































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-CountiesSouth-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-WestSouth-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%











WalesWales















































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-MidlandsWest 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-HumberYorkshire 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%











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