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EIG News October 2018

Essential Auction News

Welcome to the October newsletter that looks back at auction activity in September and preceding periods. In what is usually the busiest period in the auction calendar, last month saw only 144 auctions held across the UK - the fewest number recorded in September since 2006 (142).

This had an obvious and marked effect on the overall monthly results - lots offered were down 11% on September 2017 to 3,378 lots whilst lots sold saw an even larger drop - down 17% to 2,382 lots. Total auction revenues fell by almost 18% - an £80M drop in monetary terms and a stark realisation of the uncertain economic and political climate that the market is currently operating in.

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

Please note the newsletter can also be viewed online.

Overall Statistics September 2018

Auctions Held in the UK

144

Total Lots Offered

3,378

Total Lots Sold

2,382

Percent Sold

70.5%

Total Realised

£371,148,571

National Auction Analysis

Residential lots offered and sold fell by 13% and 18% respectively last month, with residential revenues shrinking by over 17% to £334M. The notable monthly falls had a significant impact on the figures for Q3, with lots sold down 9% and amount raised down 11% on the same quarter last year.

The commercial sector saw a marginal increase in lots offered, from 422 to 437 lots, but 20 fewer lots sold resulting in a 67% sale rate. Commercial revenues also saw a major drop - down 21% to £37M, but as all the major London commercial auctioneers don?t hold their first Autumn auction until this month (October) we?ll get a more accurate account of the sector in next month?s newsletter.

Overall

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


September 2018

July 2018 to September 2018

October 2017 to September 2018

Lots Offered

3,378 (3,793)

10.9%

7,999 (8,332)

4.0%

32,417 (32,694)

0.8%

Lots Sold

2,382 (2,857)

16.6%

5,769 (6,323)

8.8%

24,212 (25,098)

3.5%

Percent Sold

70.5% (75.3%)

6.4%

72.1% (75.9%)

5.0%

74.7% (76.8%)

2.7%

Total Raised

£371M (£451M)

17.7%

£932M (£1,060M)

12.1%

£4,326M (£4,529M)

4.5%


Residential

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


September 2018

July 2018 to September 2018

October 2017 to September 2018

Lots Offered

2,941 (3,371)

12.8%

6,756 (7,131)

5.3%

27,019 (27,185)

0.6%

Lots Sold

2,091 (2,546)

17.9%

4,905 (5,407)

9.3%

20,088 (20,734)

3.1%

Percent Sold

71.1% (75.5%)

5.8%

72.6% (75.8%)

4.2%

74.3% (76.3%)

2.6%

Total Raised

£334M (£403M)

17.3%

£726M (£817M)

11.1%

£3,051M (£3,165M)

3.6%


Commercial

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


September 2018

July 2018 to September 2018

October 2017 to September 2018

Lots Offered

437 (422)

3.6%

1,243 (1,201)

3.5%

5,398 (5,509)

2.0%

Lots Sold

291 (311)

6.4%

864 (916)

5.7%

4,124 (4,364)

5.5%

Percent Sold

66.6% (73.7%)

9.6%

69.5% (76.3%)

8.9%

76.4% (79.2%)

3.5%

Total Raised

£37M (£48M)

21.2%

£206M (£244M)

15.5%

£1,275M (£1,364M)

6.5%


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

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

268 (241)

11.2%

220 (188)

17.0%

48 (53)

9.4%

Lots Sold

196 (185)

5.9%

158 (141)

12.1%

38 (44)

13.6%

Percent Sold

73.1% (76.8%)

4.8%

71.8% (75.0%)

4.3%

79.2% (83.0%)

4.6%

Total Raised

£34M (£37M)

10.2%

£27M (£27M)

0.2%

£7M (£11M)

35.6%


East-MidlandsEast Midlands

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

615 (713)

13.7%

525 (606)

13.4%

90 (107)

15.9%

Lots Sold

453 (562)

19.4%

397 (479)

17.1%

56 (83)

32.5%

Percent Sold

73.7% (78.8%)

6.5%

75.6% (79.0%)

4.3%

62.2% (77.6%)

19.8%

Total Raised

£66M (£75M)

12.7%

£53M (£54M)

3.1%

£13M (£21M)

38.1%


LondonLondon

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

446 (636)

29.9%

404 (583)

30.7%

42 (53)

20.8%

Lots Sold

314 (448)

29.9%

281 (403)

30.3%

33 (45)

26.7%

Percent Sold

70.4% (70.4%)

0.0%

69.6% (69.1%)

0.7%

78.6% (84.9%)

7.4%

Total Raised

£137M (£202M)

32.0%

£122M (£165M)

25.6%

£15M (£37M)

60.0%


North-EastNorth-East

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

768 (791)

2.9%

727 (738)

1.5%

41 (53)

22.6%

Lots Sold

526 (620)

15.2%

505 (581)

13.1%

21 (39)

46.2%

Percent Sold

68.5% (78.4%)

12.6%

69.5% (78.7%)

11.7%

51.2% (73.6%)

30.4%

Total Raised

£39M (£45M)

14.3%

£34M (£39M)

12.8%

£5M (£6M)

24.0%


North-WestNorth-West

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

1,328 (1,433)

7.3%

1,108 (1,240)

10.6%

220 (193)

14.0%

Lots Sold

967 (1,068)

9.5%

815 (929)

12.3%

152 (139)

9.4%

Percent Sold

72.8% (74.5%)

2.3%

73.6% (74.9%)

1.7%

69.1% (72.0%)

4.0%

Total Raised

£102M (£104M)

2.0%

£77M (£81M)

4.3%

£25M (£23M)

5.9%


North-West-Home-CountiesNorth-West Home Counties

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

303 (342)

11.4%

248 (265)

6.4%

55 (77)

28.6%

Lots Sold

213 (269)

20.8%

175 (209)

16.3%

38 (60)

36.7%

Percent Sold

70.3% (78.7%)

10.7%

70.6% (78.9%)

10.5%

69.1% (77.9%)

11.3%

Total Raised

£67M (£120M)

44.6%

£46M (£80M)

42.9%

£21M (£40M)

47.8%


Northern-IrelandNorthern Ireland

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

126 (136)

7.4%

119 (128)

7.0%

7 (8)

12.5%

Lots Sold

62 (63)

1.6%

59 (60)

1.7%

3 (3)

0.0%

Percent Sold

49.2% (46.3%)

6.3%

49.6% (46.9%)

5.8%

42.9% (37.5%)

14.4%

Total Raised

£5M (£6M)

20.8%

£4M (£6M)

25.9%

£1M (£0M)

86.1%


ScotlandScotland

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

133 (154)

13.6%

85 (113)

24.8%

48 (41)

17.1%

Lots Sold

85 (99)

14.1%

56 (71)

21.1%

29 (28)

3.6%

Percent Sold

63.9% (64.3%)

0.6%

65.9% (62.8%)

4.9%

60.4% (68.3%)

11.6%

Total Raised

£11M (£9M)

15.4%

£6M (£3M)

64.4%

£5M (£6M)

13.9%


South-East-Home-CountiesSouth-East Home Counties

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

1,008 (951)

6.0%

843 (803)

5.0%

165 (148)

11.5%

Lots Sold

703 (710)

1.0%

595 (592)

0.5%

108 (118)

8.5%

Percent Sold

69.7% (74.7%)

6.7%

70.6% (73.7%)

4.2%

65.5% (79.7%)

17.8%

Total Raised

£168M (£164M)

2.2%

£125M (£127M)

2.0%

£43M (£37M)

16.6%


South-WestSouth-West

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

651 (508)

28.1%

457 (365)

25.2%

194 (143)

35.7%

Lots Sold

471 (389)

21.1%

327 (280)

16.8%

144 (109)

32.1%

Percent Sold

72.4% (76.6%)

5.5%

71.6% (76.7%)

6.6%

74.2% (76.2%)

2.6%

Total Raised

£98M (£82M)

19.6%

£68M (£61M)

10.9%

£30M (£21M)

44.9%


WalesWales

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

572 (518)

10.4%

451 (414)

8.9%

121 (104)

16.3%

Lots Sold

396 (380)

4.2%

316 (309)

2.3%

80 (71)

12.7%

Percent Sold

69.2% (73.4%)

5.7%

70.1% (74.6%)

6.0%

66.1% (68.3%)

3.2%

Total Raised

£39M (£36M)

7.0%

£27M (£27M)

1.7%

£12M (£10M)

21.5%


West-MidlandsWest Midlands

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

992 (1,011)

1.9%

881 (897)

1.8%

111 (114)

2.6%

Lots Sold

755 (823)

8.3%

675 (729)

7.4%

80 (94)

14.9%

Percent Sold

76.1% (81.4%)

6.5%

76.6% (81.3%)

5.8%

72.1% (82.5%)

12.6%

Total Raised

£105M (£106M)

1.5%

£87M (£89M)

2.2%

£17M (£17M)

2.2%


Yorkshire-and-The-HumberYorkshire and The Humber

July 2018 to September 2018

Total

Residential

Commercial

Lots Offered

789 (898)

12.1%

688 (791)

13.0%

101 (107)

5.6%

Lots Sold

628 (707)

11.2%

546 (624)

12.5%

82 (83)

1.2%

Percent Sold

79.6% (78.7%)

1.1%

79.4% (78.9%)

0.6%

81.2% (77.6%)

4.6%

Total Raised

£63M (£72M)

12.7%

£50M (£57M)

12.2%

£13M (£15M)

14.4%