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EIG News May 2019

Essential Auction News

Welcome to the May newsletter that looks back at auction activity in April and preceding periods. I am pleased to report on a positive set of monthly results - a first for almost a year!*. In the 103 auctions held across the UK last month, 2,292 lots were offered and 1,676 lots were sold - up 18% and 22% respectively on April 2018. The amount raised increased by 28% to £244.8M - over £53M more than last year.

Whilst these numbers are clearly encouraging, it should be tempered by the fact that several large auctioneers held their Spring auction in April this year compared to March or May last year. This would in some way account for the larger than expected drop seen in March's results, as reported on last month.

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

* Excludes January and August when only a handful of auctions are held.

Please note the newsletter can also be viewed online.

Overall Statistics April 2019

Auctions Held in the UK

107

Total Lots Offered

2,292

Total Lots Sold

1,676

Percent Sold

73.1%

Total Realised

£244,756,414

National Auction Analysis

In the residential auction market, lots offered and sold grew by 17% and 22% respectively, whilst residential receipts totalled £194.1M (up 16% on April 2018).

Commercial lots offered increased by 22% on last year, to 301 lots, whilst lots sold increased by over 24% to 213 lots. Commercial receipts more than doubled in April, from £24.4M to £50.7M, although as mentioned above this can be largely attributed to a year-on-year change of auction date by a major commercial auctioneer.

Overall

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

April 2019

February 2019 to April 2019

May 2018 to April 2019

Lots Offered

2,292 (1,951)

17.5%

8,017 (9,099)

11.9%

31,096 (33,216)

6.4%

Lots Sold

1,676 (1,373)

22.1%

5,996 (6,786)

11.6%

22,997 (25,224)

8.8%

Percent Sold

73.1% (70.4%)

3.8%

74.8% (74.6%)

0.3%

74.0% (75.9%)

2.5%

Total Raised

£244.8M (£191.6M)

27.8%

£1,038.0M (£1,182.7M)

12.2%

£3,980.9M (£4,534.6M)

12.2%


Residential

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

April 2019

February 2019 to April 2019

May 2018 to April 2019

Lots Offered

1,991 (1,705)

16.8%

6,915 (7,645)

9.5%

26,251 (27,803)

5.6%

Lots Sold

1,463 (1,202)

21.7%

5,170 (5,693)

9.2%

19,333 (21,017)

8.0%

Percent Sold

73.5% (70.5%)

4.3%

74.8% (74.5%)

0.4%

73.6% (75.6%)

2.6%

Total Raised

£194.1M (£167.2M)

16.1%

£750.9M (£900.4M)

16.6%

£2,857.2M (£3,192.0M)

10.5%


Commercial

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

April 2019

February 2019 to April 2019

May 2018 to April 2019

Lots Offered

301 (246)

22.4%

1,102 (1,454)

24.2%

4,845 (5,413)

10.5%

Lots Sold

213 (171)

24.6%

826 (1,093)

24.4%

3,664 (4,207)

12.9%

Percent Sold

70.8% (69.5%)

1.9%

75.0% (75.2%)

0.3%

75.6% (77.7%)

2.7%

Total Raised

£50.7M (£24.4M)

107.6%

£287.1M (£282.3M)

1.7%

£1,123.6M (£1,342.6M)

16.3%


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

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

300 (321)

6.5%

241 (263)

8.4%

59 (58)

1.7%

Lots Sold

208 (242)

14.0%

162 (196)

17.3%

46 (46)

0.0%

Percent Sold

69.3% (75.4%)

8.1%

67.2% (74.5%)

9.8%

78.0% (79.3%)

1.6%

Total Raised

£37.6M (£40.1M)

6.4%

£24.8M (£28.7M)

13.7%

£12.8M (£11.4M)

12.0%


East-MidlandsEast Midlands

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

552 (657)

16.0%

465 (561)

17.1%

87 (96)

9.4%

Lots Sold

417 (500)

16.6%

357 (428)

16.6%

60 (72)

16.7%

Percent Sold

75.5% (76.1%)

0.8%

76.8% (76.3%)

0.7%

69.0% (75.0%)

8.0%

Total Raised

£61.6M (£73.6M)

16.4%

£43.0M (£52.8M)

18.7%

£18.6M (£20.8M)

10.6%


LondonLondon

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

652 (762)

14.4%

587 (697)

15.8%

65 (65)

0.0%

Lots Sold

477 (551)

13.4%

428 (504)

15.1%

49 (47)

4.3%

Percent Sold

73.2% (72.3%)

1.2%

72.9% (72.3%)

0.8%

75.4% (72.3%)

4.3%

Total Raised

£226.6M (£258.6M)

12.4%

£174.8M (£220.6M)

20.7%

£51.7M (£38.1M)

35.9%


North-EastNorth-East

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

747 (693)

7.8%

703 (646)

8.8%

44 (47)

6.4%

Lots Sold

579 (515)

12.4%

549 (482)

13.9%

30 (33)

9.1%

Percent Sold

77.5% (74.3%)

4.3%

78.1% (74.6%)

4.7%

68.2% (70.2%)

2.8%

Total Raised

£44.1M (£36.4M)

21.0%

£35.7M (£32.1M)

11.1%

£8.4M (£4.3M)

94.9%


North-WestNorth-West

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

1,385 (1,594)

13.1%

1,178 (1,307)

9.9%

207 (287)

27.9%

Lots Sold

1,019 (1,172)

13.1%

878 (965)

9.0%

141 (207)

31.9%

Percent Sold

73.6% (73.5%)

0.1%

74.5% (73.8%)

0.9%

68.1% (72.1%)

5.5%

Total Raised

£100.1M (£117.4M)

14.8%

£71.3M (£83.9M)

15.1%

£28.8M (£33.5M)

14.0%


North-West-Home-CountiesNorth-West Home Counties

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

381 (455)

16.3%

344 (386)

10.9%

37 (69)

46.4%

Lots Sold

295 (320)

7.8%

263 (271)

3.0%

32 (49)

34.7%

Percent Sold

77.4% (70.3%)

10.1%

76.5% (70.2%)

9.0%

86.5% (71.0%)

21.8%

Total Raised

£79.9M (£107.7M)

25.8%

£65.1M (£83.5M)

22.0%

£14.8M (£24.2M)

38.9%


Northern-IrelandNorthern Ireland

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

137 (255)

46.3%

121 (219)

44.7%

16 (36)

55.6%

Lots Sold

62 (127)

51.2%

57 (106)

46.2%

5 (21)

76.2%

Percent Sold

45.3% (49.8%)

9.0%

47.1% (48.4%)

2.7%

31.3% (58.3%)

46.3%

Total Raised

£5.6M (£13.0M)

57.2%

£5.4M (£10.5M)

49.1%

£0.2M (£2.5M)

91.6%


ScotlandScotland

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

134 (227)

41.0%

109 (157)

30.6%

25 (70)

64.3%

Lots Sold

94 (146)

35.6%

72 (94)

23.4%

22 (52)

57.7%

Percent Sold

70.1% (64.3%)

9.0%

66.1% (59.9%)

10.4%

88.0% (74.3%)

18.4%

Total Raised

£8.4M (£18.5M)

54.8%

£3.9M (£6.8M)

42.5%

£4.5M (£11.7M)

61.8%


South-East-Home-CountiesSouth-East Home Counties

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

1,141 (1,139)

0.2%

987 (951)

3.8%

154 (188)

18.1%

Lots Sold

853 (861)

0.9%

738 (715)

3.2%

115 (146)

21.2%

Percent Sold

74.8% (75.6%)

1.1%

74.8% (75.2%)

0.5%

74.7% (77.7%)

3.9%

Total Raised

£199.1M (£201.7M)

1.3%

£139.8M (£149.3M)

6.4%

£59.4M (£52.4M)

13.3%


South-WestSouth-West

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

536 (609)

12.0%

422 (437)

3.4%

114 (172)

33.7%

Lots Sold

418 (497)

15.9%

318 (345)

7.8%

100 (152)

34.2%

Percent Sold

78.0% (81.6%)

4.4%

75.4% (78.9%)

4.4%

87.7% (88.4%)

0.8%

Total Raised

£75.3M (£90.8M)

17.0%

£49.6M (£66.8M)

25.8%

£25.7M (£24.0M)

7.4%


WalesWales

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

511 (530)

3.6%

428 (420)

1.9%

83 (110)

24.5%

Lots Sold

362 (384)

5.7%

306 (312)

1.9%

56 (72)

22.2%

Percent Sold

70.8% (72.5%)

2.3%

71.5% (74.3%)

3.8%

67.5% (65.5%)

3.1%

Total Raised

£38.8M (£35.7M)

8.7%

£24.5M (£26.4M)

7.3%

£14.3M (£9.2M)

54.5%


West-MidlandsWest Midlands

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

850 (1,088)

21.9%

746 (959)

22.2%

104 (129)

19.4%

Lots Sold

634 (857)

26.0%

559 (757)

26.2%

75 (100)

25.0%

Percent Sold

74.6% (78.8%)

5.3%

74.9% (78.9%)

5.1%

72.1% (77.5%)

7.0%

Total Raised

£89.2M (£124.3M)

28.2%

£66.7M (£93.6M)

28.7%

£22.5M (£30.7M)

26.6%


Yorkshire-and-The-HumberYorkshire and The Humber

February 2019 to April 2019

Total

Residential

Commercial

Lots Offered

691 (769)

10.1%

584 (642)

9.0%

107 (127)

15.7%

Lots Sold

578 (614)

5.9%

483 (518)

6.8%

95 (96)

1.0%

Percent Sold

83.6% (79.8%)

4.8%

82.7% (80.7%)

2.5%

88.8% (75.6%)

17.5%

Total Raised

£71.8M (£64.8M)

10.9%

£46.3M (£45.2M)

2.4%

£25.5M (£19.6M)

30.5%


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.