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EIG News November 2018

Essential Auction News

Welcome to the November newsletter that looks back at auction activity in October and preceding periods. Once again we see numbers down on last year, with lots offered down 5.6% in October to 3,437 lots and lots sold down 8.6% to 2,487 lots. The total amount raised has also been declining in recent times, with recorded falls of £97M, £167M and £477M in the last month, 3 months and 12 months respectively.

A glance through the regional results shows that all but 1 of the 13 regions has seen a fall in auction sales in the last 3 months, when compared to the same period last year. Whilst most auctioneers are still maintaining sale rates between 70-75%, there is no denying that the entire property market is feeling the squeeze, as reading press reports it would suggest that the private treaty market is in the same place.

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 October 2018

Auctions Held in the UK

117

Total Lots Offered

3,437

Total Lots Sold

2,487

Percent Sold

72.4%

Total Realised

£481,252,178

National Auction Analysis

The residential market saw lots offered fall from 2,788 lots in October 17 to 2,687 lots in October 18, a 3.6% drop, whilst total residential revenues fell by 7.3% to £275.1M. In the same period the commercial market saw a 12.2% drop in lots offered, from 854 lots to 750 lots, but commercial revenues fell by an alarming 26.6%, to £206.2M.

Overall

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


October 2018

August 2018 to October 2018

November 2017 to October 2018

Lots Offered

3,437 (3,642)

5.6%

7,901 (8,371)

5.6%

31,818 (33,242)

4.3%

Lots Sold

2,487 (2,721)

8.6%

5,670 (6,249)

9.3%

23,515 (25,448)

7.6%

Percent Sold

72.4% (74.7%)

3.1%

71.8% (74.7%)

3.9%

73.9% (76.6%)

3.5%

Total Raised

£481.3M (£577.9M)

16.7%

£938.9M (£1,105.4M)

15.1%

£4,146.7M (£4,623.3M)

10.3%


Residential

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


October 2018

August 2018 to October 2018

November 2017 to October 2018

Lots Offered

2,687 (2,788)

3.6%

6,650 (6,996)

4.9%

26,529 (27,700)

4.2%

Lots Sold

1,927 (2,044)

5.7%

4,775 (5,196)

8.1%

19,531 (21,081)

7.4%

Percent Sold

71.7% (73.3%)

2.2%

71.8% (74.3%)

3.4%

73.6% (76.1%)

3.3%

Total Raised

£275.1M (£296.9M)

7.3%

£691.4M (£771.6M)

10.4%

£2,983.6M (£3,227.9M)

7.6%


Commercial

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


October 2018

August 2018 to October 2018

November 2017 to October 2018

Lots Offered

750 (854)

12.2%

1,251 (1,375)

9.0%

5,289 (5,542)

4.6%

Lots Sold

560 (677)

17.3%

895 (1,053)

15.0%

3,984 (4,367)

8.8%

Percent Sold

74.7% (79.3%)

5.8%

71.5% (76.6%)

6.7%

75.3% (78.8%)

4.4%

Total Raised

£206.2M (£281.1M)

26.6%

£247.6M (£333.8M)

25.8%

£1,163.1M (£1,395.4M)

16.6%


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 2018 to October 2018

Total

Residential

Commercial

Lots Offered

307 (309)

0.6%

256 (233)

9.9%

51 (76)

32.9%

Lots Sold

223 (227)

1.8%

180 (165)

9.1%

43 (62)

30.6%

Percent Sold

72.6% (73.5%)

1.2%

70.3% (70.8%)

0.7%

84.3% (81.6%)

3.3%

Total Raised

£36.2M (£51.6M)

29.8%

£27.1M (£26.1M)

3.8%

£9.1M (£25.5M)

64.3%


East-MidlandsEast Midlands

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

577 (585)

1.4%

480 (483)

0.6%

97 (102)

4.9%

Lots Sold

432 (470)

8.1%

373 (387)

3.6%

59 (83)

28.9%

Percent Sold

74.9% (80.3%)

6.7%

77.7% (80.1%)

3.0%

60.8% (81.4%)

25.3%

Total Raised

£63.6M (£72.2M)

11.9%

£47.0M (£48.3M)

2.7%

£16.6M (£23.8M)

30.5%


LondonLondon

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

428 (595)

28.1%

391 (532)

26.5%

37 (63)

41.3%

Lots Sold

303 (412)

26.5%

278 (363)

23.4%

25 (49)

49.0%

Percent Sold

70.8% (69.2%)

2.3%

71.1% (68.2%)

4.3%

67.6% (77.8%)

13.1%

Total Raised

£146.7M (£195.7M)

25.1%

£131.2M (£163.6M)

19.8%

£15.4M (£32.1M)

51.8%


North-EastNorth-East

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

779 (746)

4.4%

721 (696)

3.6%

58 (50)

16.0%

Lots Sold

550 (562)

2.1%

513 (531)

3.4%

37 (31)

19.4%

Percent Sold

70.6% (75.3%)

6.2%

71.2% (76.3%)

6.7%

63.8% (62.0%)

2.9%

Total Raised

£45.5M (£40.0M)

13.9%

£34.3M (£35.0M)

2.1%

£11.2M (£5.0M)

126.4%


North-WestNorth-West

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

1,285 (1,291)

0.5%

1,061 (1,098)

3.4%

224 (193)

16.1%

Lots Sold

906 (943)

3.9%

754 (797)

5.4%

152 (146)

4.1%

Percent Sold

70.5% (73.0%)

3.4%

71.1% (72.6%)

2.1%

67.9% (75.6%)

10.2%

Total Raised

£92.0M (£91.5M)

0.6%

£65.5M (£63.9M)

2.6%

£26.5M (£27.6M)

3.9%


North-West-Home-CountiesNorth-West Home Counties

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

317 (331)

4.2%

268 (249)

7.6%

49 (82)

40.2%

Lots Sold

222 (241)

7.9%

184 (176)

4.5%

38 (65)

41.5%

Percent Sold

70.0% (72.8%)

3.8%

68.7% (70.7%)

2.8%

77.6% (79.3%)

2.1%

Total Raised

£65.5M (£111.9M)

41.5%

£44.2M (£67.1M)

34.1%

£21.3M (£44.9M)

52.4%


Northern-IrelandNorthern Ireland

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

121 (304)

60.2%

114 (262)

56.5%

7 (42)

83.3%

Lots Sold

57 (167)

65.9%

56 (138)

59.4%

1 (29)

96.6%

Percent Sold

47.1% (54.9%)

14.2%

49.1% (52.7%)

6.8%

14.3% (69.0%)

79.3%

Total Raised

£4.2M (£14.1M)

70.3%

£4.2M (£11.4M)

63.3%

£0.0M (£2.7M)

99.2%


ScotlandScotland

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

210 (237)

11.4%

152 (186)

18.3%

58 (51)

13.7%

Lots Sold

147 (154)

4.5%

100 (117)

14.5%

47 (37)

27.0%

Percent Sold

70.0% (65.0%)

7.7%

65.8% (62.9%)

4.6%

81.0% (72.5%)

11.7%

Total Raised

£15.8M (£15.2M)

3.8%

£7.3M (£5.8M)

25.8%

£8.5M (£9.4M)

9.7%


South-East-Home-CountiesSouth-East Home Counties

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

908 (1,035)

12.3%

751 (854)

12.1%

157 (181)

13.3%

Lots Sold

635 (789)

19.5%

522 (643)

18.8%

113 (146)

22.6%

Percent Sold

69.9% (76.2%)

8.3%

69.5% (75.3%)

7.7%

72.0% (80.7%)

10.8%

Total Raised

£149.8M (£185.2M)

19.1%

£105.6M (£127.2M)

17.0%

£44.3M (£58.0M)

23.7%


South-WestSouth-West

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

524 (517)

1.4%

360 (355)

1.4%

164 (162)

1.2%

Lots Sold

378 (377)

0.3%

249 (264)

5.7%

129 (113)

14.2%

Percent Sold

72.1% (72.9%)

1.1%

69.2% (74.4%)

7.0%

78.7% (69.8%)

12.8%

Total Raised

£86.7M (£77.2M)

12.3%

£53.2M (£53.6M)

0.9%

£33.6M (£23.6M)

42.0%


WalesWales

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

576 (552)

4.3%

475 (450)

5.6%

101 (102)

1.0%

Lots Sold

395 (401)

1.5%

335 (331)

1.2%

60 (70)

14.3%

Percent Sold

68.6% (72.6%)

5.5%

70.5% (73.6%)

4.2%

59.4% (68.6%)

13.4%

Total Raised

£40.6M (£39.5M)

2.8%

£29.3M (£27.8M)

5.4%

£11.3M (£11.7M)

3.4%


West-MidlandsWest Midlands

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

1,111 (1,024)

8.5%

970 (871)

11.4%

141 (153)

7.8%

Lots Sold

821 (825)

0.5%

715 (698)

2.4%

106 (127)

16.5%

Percent Sold

73.9% (80.6%)

8.3%

73.7% (80.1%)

8.0%

75.2% (83.0%)

9.4%

Total Raised

£129.0M (£131.5M)

1.9%

£93.6M (£89.6M)

4.4%

£35.5M (£41.9M)

15.3%


Yorkshire-and-The-HumberYorkshire and The Humber

August 2018 to October 2018

Total

Residential

Commercial

Lots Offered

758 (845)

10.3%

651 (727)

10.5%

107 (118)

9.3%

Lots Sold

601 (681)

11.7%

516 (586)

11.9%

85 (95)

10.5%

Percent Sold

79.3% (80.6%)

1.6%

79.3% (80.6%)

1.6%

79.4% (80.5%)

1.4%

Total Raised

£63.3M (£79.9M)

20.7%

£49.0M (£52.2M)

6.2%

£14.3M (£27.7M)

48.2%