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March Auction News

Welcome to the March newsletter that looks back on auction activity for the past month, February, and on a quarterly and annual basis as well. It is pleasing to see that when compared with February last year, 8 out of the 12 measurable metrics were in positive territory (and all but 2 were double digit increases), 3 were down and one remained the same. Moving over to the rolling quarterly and yearly results, the past 3 months saw 5 increases and 7 declines. The yearly comparison does, as to be expected, broadly mirror the quarterly results.

The declining numbers in the quarter were mainly seen in the commercial sector, with the residential side experiencing a 29% increase in lots offered, a 16% increase in lots sold, but interestingly a 10% decline in amount raised. This could be a factor of both smaller value lots coming to auction coupled with the overall market readjusting pricing, as has been mentioned extensively in the press and media.

As always, I welcome any views and comments you may have about the newsletter, or the wider market in general.

Please note the newsletter can also be viewed online.

Kind regards

David Sandeman
davids@eigroup.co.uk

P.S. Here at the Essential Information Group we maintain a database of virtually every property coming up for sale at auction as well as almost 900,000 lots that have been to auction in the past. It is fully searchable and allows you to identify properties coming up for sale that you might be interested in, and to see what similar properties have sold for in the past.

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Overall Statistics February 2023

Total Lots Offered

3,692

Total Lots Sold

2,746

Percent Sold

74.4%

Total Realised

£523,402,000

National Auction Analysis

Overall

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

February 2023

December 2022 to February 2023

March 2022 to February 2023

Lots Offered

3,692 (2,988)

23.6%

8,383 (6,749)

24.2%

32,011 (28,157)

13.7%

Lots Sold

2,746 (2,441)

12.5%

5,967 (5,333)

11.9%

23,017 (21,970)

4.8%

Percent Sold

74.4% (81.7%)

8.9%

71.2% (79.0%)

9.9%

71.9% (78.0%)

7.8%

Total Raised

£523.4M (£497.7M)

5.2%

£1,066.4M (£1,094.2M)

2.5%

£4,825.2M (£4,635.7M)

4.1%


Residential

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

February 2023

December 2022 to February 2023

March 2022 to February 2023

Lots Offered

3,258 (2,574)

26.6%

7,501 (5,779)

29.8%

27,624 (24,141)

14.4%

Lots Sold

2,420 (2,115)

14.4%

5,325 (4,566)

16.6%

19,935 (18,854)

5.7%

Percent Sold

74.3% (82.2%)

9.6%

71.0% (79.0%)

10.1%

72.2% (78.1%)

7.6%

Total Raised

£401.6M (£392.8M)

2.2%

£840.1M (£838.7M)

0.2%

£3,613.2M (£3,483.5M)

3.7%


Commercial

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

February 2023

December 2022 to February 2023

March 2022 to February 2023

Lots Offered

434 (414)

4.8%

882 (970)

9.1%

4,387 (4,016)

9.2%

Lots Sold

326 (326)

0.0%

642 (767)

16.3%

3,082 (3,116)

1.1%

Percent Sold

75.1% (78.7%)

4.6%

72.8% (79.1%)

8.0%

70.3% (77.6%)

9.4%

Total Raised

£121.8M (£105.0M)

16.0%

£226.3M (£255.5M)

11.4%

£1,212.0M (£1,152.2M)

5.2%


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

(Includes Cambridgeshire, Norfolk, Suffolk)

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

366 (245)

49.4%

331 (202)

63.9%

35 (43)

18.6%

Lots Sold

267 (221)

20.8%

242 (183)

32.2%

25 (38)

34.2%

Percent Sold

73.0% (90.2%)

19.1%

73.1% (90.6%)

19.3%

71.4% (88.4%)

19.2%

Total Raised

£44.9M (£47.8M)

6.2%

£37.0M (£35.5M)

4.0%

£7.9M (£12.3M)

35.5%


East-MidlandsEast Midlands

(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

664 (483)

37.5%

592 (410)

44.4%

72 (73)

1.4%

Lots Sold

500 (382)

30.9%

439 (324)

35.5%

61 (58)

5.2%

Percent Sold

75.3% (79.1%)

4.8%

74.2% (79.0%)

6.1%

84.7% (79.5%)

6.5%

Total Raised

£78.7M (£62.2M)

26.5%

£59.6M (£49.9M)

19.6%

£19.1M (£12.3M)

54.6%


LondonLondon

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

611 (650)

6.0%

543 (601)

9.7%

68 (49)

38.8%

Lots Sold

471 (491)

4.1%

413 (450)

8.2%

58 (41)

41.5%

Percent Sold

77.1% (75.5%)

2.1%

76.1% (74.9%)

1.6%

85.3% (83.7%)

1.9%

Total Raised

£188.3M (£218.4M)

13.8%

£151.8M (£194.4M)

21.9%

£36.4M (£23.9M)

52.3%


North-EastNorth-East

(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

612 (547)

11.9%

586 (511)

14.7%

26 (36)

27.8%

Lots Sold

406 (396)

2.5%

385 (371)

3.8%

21 (25)

16.0%

Percent Sold

66.3% (72.4%)

8.4%

65.7% (72.6%)

9.5%

80.8% (69.4%)

16.4%

Total Raised

£34.4M (£33.9M)

1.7%

£28.1M (£26.3M)

7.1%

£6.3M (£7.6M)

17.2%


North-WestNorth-West

(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

1,330 (1,115)

19.3%

1,186 (958)

23.8%

144 (157)

8.3%

Lots Sold

927 (880)

5.3%

825 (756)

9.1%

102 (124)

17.7%

Percent Sold

69.7% (78.9%)

11.7%

69.6% (78.9%)

11.8%

70.8% (79.0%)

10.4%

Total Raised

£107.9M (£122.2M)

11.7%

£84.8M (£90.1M)

5.9%

£23.1M (£32.1M)

28.0%


North-West-Home-CountiesNorth-West Home Counties

(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

522 (450)

16.0%

471 (385)

22.3%

51 (65)

21.5%

Lots Sold

381 (357)

6.7%

341 (303)

12.5%

40 (54)

25.9%

Percent Sold

73.0% (79.3%)

7.9%

72.4% (78.7%)

8.0%

78.4% (83.1%)

5.7%

Total Raised

£108.4M (£114.8M)

5.6%

£82.8M (£84.2M)

1.7%

£25.6M (£30.6M)

16.3%


Northern-IrelandNorthern Ireland

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

54 (70)

22.9%

45 (66)

31.8%

9 (4)

125.0%

Lots Sold

17 (20)

15.0%

14 (19)

26.3%

3 (1)

200.0%

Percent Sold

31.5% (28.6%)

10.1%

31.1% (28.8%)

8.0%

33.3% (25.0%)

33.2%

Total Raised

£1.9M (£2.4M)

21.8%

£1.7M (£2.2M)

22.5%

£0.2M (£0.2M)

13.5%


ScotlandScotland

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

277 (209)

32.5%

187 (122)

53.3%

90 (87)

3.4%

Lots Sold

120 (110)

9.1%

75 (61)

23.0%

45 (49)

8.2%

Percent Sold

43.3% (52.6%)

17.7%

40.1% (50.0%)

19.8%

50.0% (56.3%)

11.2%

Total Raised

£12.9M (£14.4M)

10.5%

£6.3M (£4.1M)

53.9%

£6.6M (£10.3M)

36.0%


South-East-Home-CountiesSouth-East Home Counties

(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

1,189 (1,037)

14.7%

1,076 (869)

23.8%

113 (168)

32.7%

Lots Sold

817 (835)

2.2%

728 (706)

3.1%

89 (129)

31.0%

Percent Sold

68.7% (80.5%)

14.7%

67.7% (81.2%)

16.6%

78.8% (76.8%)

2.6%

Total Raised

£194.0M (£206.7M)

6.1%

£153.6M (£157.8M)

2.7%

£40.5M (£49.0M)

17.3%


South-WestSouth-West

(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

614 (401)

53.1%

546 (311)

75.6%

68 (90)

24.4%

Lots Sold

442 (354)

24.9%

390 (270)

44.4%

52 (84)

38.1%

Percent Sold

72.0% (88.3%)

18.5%

71.4% (86.8%)

17.7%

76.5% (93.3%)

18.0%

Total Raised

£87.4M (£81.5M)

7.2%

£66.5M (£56.6M)

17.6%

£20.8M (£25.0M)

16.5%


WalesWales

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

423 (385)

9.9%

374 (318)

17.6%

49 (67)

26.9%

Lots Sold

280 (318)

11.9%

255 (264)

3.4%

25 (54)

53.7%

Percent Sold

66.2% (82.6%)

19.9%

68.2% (83.0%)

17.8%

51.0% (80.6%)

36.7%

Total Raised

£32.8M (£41.3M)

20.6%

£29.1M (£30.0M)

2.7%

£3.7M (£11.4M)

67.7%


West-MidlandsWest Midlands

(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

897 (597)

50.3%

800 (519)

54.1%

97 (78)

24.4%

Lots Sold

729 (512)

42.4%

655 (447)

46.5%

74 (65)

13.8%

Percent Sold

81.3% (85.8%)

5.2%

81.9% (86.1%)

4.9%

76.3% (83.3%)

8.4%

Total Raised

£106.2M (£92.9M)

14.3%

£83.7M (£64.8M)

29.1%

£22.5M (£28.2M)

19.9%


Yorkshire-and-The-HumberYorkshire and The Humber

(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)

December 2022 to February 2023

Total

Residential

Commercial

Lots Offered

824 (560)

47.1%

764 (507)

50.7%

60 (53)

13.2%

Lots Sold

610 (457)

33.5%

563 (412)

36.7%

47 (45)

4.4%

Percent Sold

74.0% (81.6%)

9.3%

73.7% (81.3%)

9.3%

78.3% (84.9%)

7.8%

Total Raised

£68.6M (£55.6M)

23.6%

£55.1M (£42.8M)

28.5%

£13.6M (£12.7M)

6.7%


Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.

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