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EIG Monthly Newsletter January 2015

Monthly News Update

Overall Statistics December 2014
Auctions Held in the UK	134
Total Lots Offered	3,473
Total Lots Sold	2,605
Percent Sold	75%
Total Realised	£491,153,403

Auction Data for December 2014

Difficulty reading the figures?

The figures below should appear in a 'table' format. If for any reason they do not, you can view the newsletter online at https://www.eigroup.co.uk/market-data/newsletters/2015/january.html

Essential Auction News

David Sandeman, Managing Director

Welcome to the first newsletter of 2015 which looks back at auction activity in December and preceding periods. The auction market was largely unchanged in December, with only marginal differences in the number of lots offered and sold compared with December 2013. The amount raised from auction sales, which saw substantial increases throughout 2014, totalled in excess of £491m for the month; a 3.6% gain on December 2013 and the largest amount achieved in December since 2007.

I am pleased to report that I have just published a residential auction market review for 2014, which provides a detailed account of the trends witnessed in the market over the last few years - you can read it here.

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

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk
01737 232 289

National Auction Analysis

The commercial auction market started very brightly in 2014, with instructions and sales volumes increasing through the first half of the year. However, growth slowed during the Summer months, and the past few newsletters have all shown a slight fall in activity which resonates in the quarterly figures shown below - lots offered down 5.4% and lots sold down 4% on Q4 2013.

Overall though the commercial market fared comparatively with 2013, and an annual average sale rate of 77.7% and a 15% rise in commercial receipts make positive reading.

In the residential sector, the gavel fell on 21,834 lots during 2014 - a 2.1% increase on 2013. More significantly, this sets a new record for the highest number of residential sales in a calendar year, surpassing the previous high recorded in 2007. We have also seen the amount raised at residential auctions increase throughout the year, often in double-digit percentage terms, and the yearly figures below show the total has broken through the £3bn mark for the first time in 7 years - a fantastic achievement for the industry.

Total

	Last Month			Last Quarter			Last Year
	December 2014	December 2013	Increase	October 2014 - December 2014	October 2013 - December 2013	Increase	January 2014 - December 2014	January 2013 - December 2013	Increase
Lots Offered	3,473	3,426	1.4%	9,444	9,435	0.1%	35,003	34,030	2.9%
Lots Sold	2,605	2,675	-2.6%	7,060	7,305	-3.4%	26,867	26,458	1.5%
Percent Sold	75%	78.1%	-4.0%	74.8%	77.4%	-3.4%	76.8%	77.7%	-1.2%
Total Raised	£491,153,403	£474,095,012	3.6%	£1,259,500,889	£1,141,610,222	10.3%	£4,378,420,022	£3,828,973,311	14.3%

Residential

	Last Month			Last Quarter			Last Year
	December 2014	December 2013	Increase	October 2014 - December 2014	October 2013 - December 2013	Increase	January 2014 - December 2014	January 2013 - December 2013	Increase
Lots Offered	2,712	2,610	3.9%	7,499	7,380	1.6%	28,525	27,486	3.8%
Lots Sold	2,008	2,049	-2.0%	5,538	5,720	-3.2%	21,834	21,395	2.1%
Percent Sold	74%	78.5%	-5.7%	73.8%	77.5%	-4.8%	76.5%	77.8%	-1.7%
Total Raised	£309,260,382	£295,350,690	4.7%	£813,246,537	£730,042,690	11.4%	£3,058,368,935	£2,684,061,274	13.9%

Commercial

	Last Month			Last Quarter			Last Year
	December 2014	December 2013	Increase	October 2014 - December 2014	October 2013 - December 2013	Increase	January 2014 - December 2014	January 2013 - December 2013	Increase
Lots Offered	761	816	-6.7%	1,945	2,055	-5.4%	6,478	6,544	-1.0%
Lots Sold	597	626	-4.6%	1,522	1,585	-4.0%	5,033	5,063	-0.6%
Percent Sold	78.4%	76.7%	2.2%	78.3%	77.1%	1.6%	77.7%	77.4%	0.4%
Total Raised	£181,893,021	£178,744,322	1.8%	£446,254,352	£411,567,532	8.4%	£1,320,051,087	£1,144,912,037	15.3%

Regional Auction Analysis

As is usually the case, variations across all the measurable parameters can be seen across the regions.

East Anglia

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	321	342	-6.1%
Lots Sold	252	272	-7.4%
Percent Sold	78.5%	79.5%	-1.3%
Total Raised	£44,573,750	£42,690,499	4.4%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	261	241	8.3%
Lots Sold	204	189	7.9%
Percent Sold	78.2%	78.4%	-0.3%
Total Raised	£28,587,750	£24,709,100	15.7%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	60	101	-40.6%
Lots Sold	48	83	-42.2%
Percent Sold	80%	82.2%	-2.7%
Total Raised	£15,986,000	£17,981,399	-11.1%

East Midlands

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	778	720	8.1%
Lots Sold	581	559	3.9%
Percent Sold	74.7%	77.6%	-3.7%
Total Raised	£82,306,905	£68,708,409	19.8%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	612	576	6.3%
Lots Sold	445	445	0.0%
Percent Sold	72.7%	77.3%	-6.0%
Total Raised	£48,138,855	£44,927,199	7.1%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	166	144	15.3%
Lots Sold	136	114	19.3%
Percent Sold	81.9%	79.2%	3.4%
Total Raised	£34,168,050	£23,781,210	43.7%

London

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	830	824	0.7%
Lots Sold	656	729	-10.0%
Percent Sold	79%	88.5%	-10.7%
Total Raised	£294,362,350	£263,056,150	11.9%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	754	706	6.8%
Lots Sold	589	631	-6.7%
Percent Sold	78.1%	89.4%	-12.6%
Total Raised	£247,887,850	£210,605,650	17.7%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	76	118	-35.6%
Lots Sold	67	98	-31.6%
Percent Sold	88.2%	83.1%	6.1%
Total Raised	£46,474,500	£52,450,500	-11.4%

North-East

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	781	893	-12.5%
Lots Sold	565	648	-12.8%
Percent Sold	72.3%	72.6%	-0.4%
Total Raised	£49,860,095	£57,391,244	-13.1%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	691	787	-12.2%
Lots Sold	494	567	-12.9%
Percent Sold	71.5%	72%	-0.7%
Total Raised	£33,371,595	£41,648,994	-19.9%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	90	106	-15.1%
Lots Sold	71	81	-12.3%
Percent Sold	78.9%	76.4%	3.3%
Total Raised	£16,488,500	£15,742,250	4.7%

North-West

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	1,390	1,541	-9.8%
Lots Sold	1,000	1,190	-16.0%
Percent Sold	71.9%	77.2%	-6.9%
Total Raised	£112,174,658	£120,511,226	-6.9%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	1,081	1,207	-10.4%
Lots Sold	781	941	-17.0%
Percent Sold	72.2%	78%	-7.4%
Total Raised	£66,406,261	£74,366,666	-10.7%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	309	334	-7.5%
Lots Sold	219	249	-12.0%
Percent Sold	70.9%	74.6%	-5.0%
Total Raised	£45,768,397	£46,144,560	-0.8%

North-West Home Counties

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	406	406	0.0%
Lots Sold	321	314	2.2%
Percent Sold	79.1%	77.3%	2.3%
Total Raised	£113,328,927	£87,077,450	30.1%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	300	295	1.7%
Lots Sold	229	234	-2.1%
Percent Sold	76.3%	79.3%	-3.8%
Total Raised	£58,553,777	£46,483,200	26.0%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	106	111	-4.5%
Lots Sold	92	80	15.0%
Percent Sold	86.8%	72.1%	20.4%
Total Raised	£54,775,150	£40,594,250	34.9%

Northern Ireland

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	333	212	57.1%
Lots Sold	246	148	66.2%
Percent Sold	73.9%	69.8%	5.9%
Total Raised	£17,347,800	£8,977,000	93.2%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	283	173	63.6%
Lots Sold	202	118	71.2%
Percent Sold	71.4%	68.2%	4.7%
Total Raised	£13,860,300	£5,991,000	131.4%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	50	39	28.2%
Lots Sold	44	30	46.7%
Percent Sold	88%	76.9%	14.4%
Total Raised	£3,487,500	£2,986,000	16.8%

Scotland

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	346	333	3.9%
Lots Sold	180	183	-1.6%
Percent Sold	52%	55%	-5.5%
Total Raised	£15,128,755	£14,689,050	3.0%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	272	254	7.1%
Lots Sold	136	139	-2.2%
Percent Sold	50%	54.7%	-8.6%
Total Raised	£6,629,405	£7,672,200	-13.6%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	74	79	-6.3%
Lots Sold	44	44	0.0%
Percent Sold	59.5%	55.7%	6.8%
Total Raised	£8,499,350	£7,016,850	21.1%

South-East Home Counties

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	1,057	973	8.6%
Lots Sold	842	808	4.2%
Percent Sold	79.7%	83%	-4.0%
Total Raised	£197,655,196	£186,512,445	6.0%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	762	683	11.6%
Lots Sold	609	566	7.6%
Percent Sold	79.9%	82.9%	-3.6%
Total Raised	£117,193,241	£90,363,945	29.7%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	295	290	1.7%
Lots Sold	233	242	-3.7%
Percent Sold	79%	83.4%	-5.3%
Total Raised	£80,461,955	£96,148,500	-16.3%

South-West

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	676	672	0.6%
Lots Sold	506	492	2.8%
Percent Sold	74.9%	73.2%	2.3%
Total Raised	£107,109,550	£87,136,000	22.9%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	482	477	1.0%
Lots Sold	343	338	1.5%
Percent Sold	71.2%	70.9%	0.4%
Total Raised	£55,913,800	£52,961,250	5.6%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	194	195	-0.5%
Lots Sold	163	154	5.8%
Percent Sold	84%	79%	6.3%
Total Raised	£51,195,750	£34,174,750	49.8%

Wales

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	691	558	23.8%
Lots Sold	534	431	23.9%
Percent Sold	77.3%	77.2%	0.1%
Total Raised	£56,844,754	£36,984,414	53.7%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	503	418	20.3%
Lots Sold	384	326	17.8%
Percent Sold	76.3%	78%	-2.2%
Total Raised	£30,591,254	£26,770,201	14.3%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	188	140	34.3%
Lots Sold	150	105	42.9%
Percent Sold	79.8%	75%	6.4%
Total Raised	£26,253,500	£10,214,213	157.0%

West Midlands

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	961	1,016	-5.4%
Lots Sold	743	826	-10.0%
Percent Sold	77.3%	81.3%	-4.9%
Total Raised	£97,811,450	£97,160,150	0.7%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	773	797	-3.0%
Lots Sold	593	652	-9.0%
Percent Sold	76.7%	81.8%	-6.2%
Total Raised	£59,663,250	£60,133,650	-0.8%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	188	219	-14.2%
Lots Sold	150	174	-13.8%
Percent Sold	79.8%	79.5%	0.4%
Total Raised	£38,148,200	£37,026,500	3.0%

Yorkshire and The Humber

Total
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	874	945	-7.5%
Lots Sold	634	705	-10.1%
Percent Sold	72.5%	74.6%	-2.8%
Total Raised	£70,996,699	£70,716,185	0.4%

Residential
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	725	766	-5.4%
Lots Sold	529	574	-7.8%
Percent Sold	73%	74.9%	-2.5%
Total Raised	£46,449,199	£43,409,635	7.0%

Commercial
	October 2014 - December 2014	October 2013 - December 2013	Increase
Lots Offered	149	179	-16.8%
Lots Sold	105	131	-19.8%
Percent Sold	70.5%	73.2%	-3.7%
Total Raised	£24,547,500	£27,306,550	-10.1%

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