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EIG Auction News

Essential Auction News

Welcome to the November newsletter that looks back at auction activity in October and preceding periods. Whilst the figures below are dominated by large double-digit rises - notably the 14% and 16% increases in lots offered and sold respectively and 30% rise in total revenues - it should be noted that several major residential auctioneers held their Autumn auction in October this year compared to November last year.

This has certainly attributed to the inflated numbers seen below, but that caveat aside our analysis still indicates a positive month with many auctioneers enjoying bumper auctions - more on this in the National Auction Analysis below.

Before I sign off, I am proud to announce that Essential Information Group recently won the Silver award for "Supplier of the Year: Technology" at this year's Negotiator Awards. We are honoured to receive the award, especially given the quality and number of other entrants, and I am delighted for the whole team who work tirelessly to deliver essential services to the auction industry.

EIG wins silver at the Negotiator Awards 2017

As ever I welcome any feedback you may have regarding the newsletters or indeed the wider market in general.

Overall Statistics October 2017

Auctions Held in the UK

127

Total Lots Offered

3,642

Total Lots Sold

2,721

Percent Sold

74.7%

Total Realised

£577,945,396

National Auction Analysis

As mentioned above, last month's figures are somewhat skewed because of the auction dates chosen by several major residential auctioneers. If we discount these auctions, and those held by 6 major auctioneers which held an auction in October last year and their corresponding auction in November this year, we can see that the overall amount raised climbed from £410M in October 2016 to £479M in October 2017 - a rise of 17%.

It is certainly encouraging and dispels any talk about there being a downcast market. With a busy winter schedule ahead one hopes that this trend continues!

Overall

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


October 2017

August 2017 to October 2017

November 2016 to October 2017

Lots Offered

3,642 (3,133)

16.2%

8,371 (7,873)

6.3%

33,242 (33,652)

1.2%

Lots Sold

2,721 (2,327)

16.9%

6,249 (5,749)

8.7%

25,448 (25,537)

0.3%

Percent Sold

74.7% (74.3%)

0.5%

74.7% (73.0%)

2.3%

76.6% (75.9%)

0.9%

Total Raised

£578M (£444M)

30.3%

£1,105M (£914M)

21.0%

£4,623M (£4,557M)

1.5%


Residential

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


October 2017

August 2017 to October 2017

November 2016 to October 2017

Lots Offered

2,788 (2,300)

21.2%

6,996 (6,454)

8.4%

27,700 (27,754)

0.2%

Lots Sold

2,044 (1,679)

21.7%

5,196 (4,686)

10.9%

21,081 (20,943)

0.7%

Percent Sold

73.3% (73.0%)

0.4%

74.3% (72.6%)

2.3%

76.1% (75.5%)

0.8%

Total Raised

£297M (£233M)

27.1%

£772M (£647M)

19.2%

£3,228M (£3,204M)

0.7%


Commercial

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


October 2017

August 2017 to October 2017

November 2016 to October 2017

Lots Offered

854 (833)

2.5%

1,375 (1,419)

3.1%

5,542 (5,898)

6.0%

Lots Sold

677 (648)

4.5%

1,053 (1,063)

0.9%

4,367 (4,594)

4.9%

Percent Sold

79.3% (77.8%)

1.9%

76.6% (74.9%)

2.3%

78.8% (77.9%)

1.2%

Total Raised

£281M (£210M)

33.8%

£334M (£266M)

25.4%

£1,395M (£1,352M)

3.2%


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

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

309 (202)

53.0%

233 (131)

77.9%

76 (71)

7.0%

Lots Sold

227 (161)

41.0%

165 (103)

60.2%

62 (58)

6.9%

Percent Sold

73.5% (79.7%)

7.8%

70.8% (78.6%)

9.9%

81.6% (81.7%)

0.1%

Total Raised

£52M (£28M)

81.8%

£26M (£15M)

79.4%

£25M (£14M)

84.4%


East-MidlandsEast Midlands

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

585 (697)

16.1%

483 (597)

19.1%

102 (100)

2.0%

Lots Sold

470 (545)

13.8%

387 (467)

17.1%

83 (78)

6.4%

Percent Sold

80.3% (78.2%)

2.7%

80.1% (78.2%)

2.4%

81.4% (78.0%)

4.4%

Total Raised

£72M (£65M)

11.4%

£48M (£49M)

2.4%

£24M (£15M)

56.1%


LondonLondon

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

595 (473)

25.8%

532 (433)

22.9%

63 (40)

57.5%

Lots Sold

412 (342)

20.5%

363 (309)

17.5%

49 (33)

48.5%

Percent Sold

69.2% (72.3%)

4.3%

68.2% (71.4%)

4.5%

77.8% (82.5%)

5.7%

Total Raised

£196M (£150M)

30.0%

£164M (£128M)

27.4%

£32M (£22M)

45.2%


North-EastNorth-East

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

746 (793)

5.9%

696 (724)

3.9%

50 (69)

27.5%

Lots Sold

562 (563)

0.2%

531 (516)

2.9%

31 (47)

34.0%

Percent Sold

75.3% (71.0%)

6.1%

76.3% (71.3%)

7.0%

62.0% (68.1%)

9.0%

Total Raised

£40M (£45M)

10.8%

£35M (£38M)

6.8%

£5M (£7M)

31.6%


North-WestNorth-West

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

1,291 (1,246)

3.6%

1,098 (1,020)

7.6%

193 (226)

14.6%

Lots Sold

943 (900)

4.8%

797 (735)

8.4%

146 (165)

11.5%

Percent Sold

73.0% (72.2%)

1.1%

72.6% (72.1%)

0.7%

75.6% (73.0%)

3.6%

Total Raised

£91M (£91M)

0.5%

£64M (£60M)

5.8%

£28M (£31M)

10.0%


North-West-Home-CountiesNorth-West Home Counties

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

331 (354)

6.5%

249 (264)

5.7%

82 (90)

8.9%

Lots Sold

241 (297)

18.9%

176 (219)

19.6%

65 (78)

16.7%

Percent Sold

72.8% (83.9%)

13.2%

70.7% (83.0%)

14.8%

79.3% (86.7%)

8.5%

Total Raised

£112M (£83M)

35.1%

£67M (£51M)

31.2%

£45M (£32M)

41.5%


Northern-IrelandNorthern Ireland

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

304 (199)

52.8%

262 (180)

45.6%

42 (19)

121.1%

Lots Sold

167 (80)

108.8%

138 (74)

86.5%

29 (6)

383.3%

Percent Sold

54.9% (40.2%)

36.6%

52.7% (41.1%)

28.2%

69.0% (31.6%)

118.4%

Total Raised

£14M (£6M)

123.1%

£11M (£6M)

100.1%

£3M (£1M)

328.5%


ScotlandScotland

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

237 (266)

10.9%

186 (225)

17.3%

51 (41)

24.4%

Lots Sold

154 (137)

12.4%

117 (108)

8.3%

37 (29)

27.6%

Percent Sold

65.0% (51.5%)

26.2%

62.9% (48.0%)

31.0%

72.5% (70.7%)

2.5%

Total Raised

£15M (£13M)

13.7%

£6M (£6M)

9.8%

£9M (£7M)

35.5%


South-East-Home-CountiesSouth-East Home Counties

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

1,035 (831)

24.5%

854 (657)

30.0%

181 (174)

4.0%

Lots Sold

789 (646)

22.1%

643 (511)

25.8%

146 (135)

8.1%

Percent Sold

76.2% (77.7%)

1.9%

75.3% (77.8%)

3.2%

80.7% (77.6%)

4.0%

Total Raised

£185M (£155M)

19.4%

£127M (£109M)

16.8%

£58M (£46M)

25.6%


South-WestSouth-West

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

517 (555)

6.8%

355 (368)

3.5%

162 (187)

13.4%

Lots Sold

377 (409)

7.8%

264 (266)

0.8%

113 (143)

21.0%

Percent Sold

72.9% (73.7%)

1.1%

74.4% (72.3%)

2.9%

69.8% (76.5%)

8.8%

Total Raised

£77M (£78M)

0.5%

£54M (£49M)

8.5%

£24M (£28M)

16.4%


WalesWales

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

552 (585)

5.6%

450 (456)

1.3%

102 (129)

20.9%

Lots Sold

401 (424)

5.4%

331 (329)

0.6%

70 (95)

26.3%

Percent Sold

72.6% (72.5%)

0.1%

73.6% (72.1%)

2.1%

68.6% (73.6%)

6.8%

Total Raised

£39M (£40M)

0.2%

£28M (£28M)

1.6%

£12M (£11M)

3.4%


West-MidlandsWest Midlands

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

1,024 (868)

18.0%

871 (728)

19.6%

153 (140)

9.3%

Lots Sold

825 (655)

26.0%

698 (554)

26.0%

127 (101)

25.7%

Percent Sold

80.6% (75.5%)

6.8%

80.1% (76.1%)

5.3%

83.0% (72.1%)

15.1%

Total Raised

£132M (£89M)

48.5%

£90M (£61M)

46.1%

£42M (£27M)

53.8%


Yorkshire-and-The-HumberYorkshire and The Humber

August 2017 to October 2017

Total

Residential

Commercial

Lots Offered

845 (804)

5.1%

727 (671)

8.3%

118 (133)

11.3%

Lots Sold

681 (590)

15.4%

586 (495)

18.4%

95 (95)

0.0%

Percent Sold

80.6% (73.4%)

9.8%

80.6% (73.8%)

9.2%

80.5% (71.4%)

12.7%

Total Raised

£80M (£71M)

13.0%

£52M (£46M)

13.9%

£28M (£25M)

11.4%