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Auction Data for April 2015

Auction Data for April 2015

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/may.html

Essential Auction News

David Sandeman, Managing Director

Welcome to the May newsletter that looks back at auction activity in April and preceding periods. The number of lots offered and sold at auction has fallen for a fourth consecutive month, largely due to sizeable falls witnessed in the residential property market. A total of 2,680 lots went under the hammer last month, down almost 5% on April 2014, whilst lots sold fell 3.2% to 1,965 lots and the amount raised increased slightly, to £242.4m.

Now that the general election is over, and moreover the endless speculation and uncertainty that surrounded its outcome, one hopes that confidence can be restored in the housing market and we see a return to growth before too long. Whilst interest rates remain at a record low and the private treaty market has stock in short supply, buying a property at auction can still offer an excellent investment or development opportunity.

As ever I would welcome any comments or feedback you might 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

It's a tale of two sectors again in April, as the residential auction market suffered notable falls in contrast to sizeable gains made in the commercial market. Residential lots offered and lots sold were both down on April 2014, by 9% and 8.4% respectively, yet somewhat surprisingly the total raised grew by 2.5% to £206.8m.

The recent softening in the residential market is exemplified in the rolling quarterly figures, which show falls of 6% in lots offered and 7% in lots sold, but on a positive note we are still seeing a sale rate in the mid-seventies which remains comparative to the long-term average. However this is nothing like what we saw in 2008 - 2009 when we reported on quarterly falls of 31% in lots offered and 19% in lots sold, and a 35% drop in residential auction receipts. This would indicate that we are currently witnessing a market correction in terms of lots offered.

The commercial market enjoyed another strong month, with lots offered up nearly 18% on last year to 511 lots, and lots sold up a remarkable 28% to 372 lots. In contrast to the residential market, the rolling quarterly figures are a positive fare with lots offered up 6% and lots sold up nearly 9% on the equivalent period last year.

Total

	Last Month			Last Quarter			Last Year
	April 2015	April 2014	Increase	February 2015 - April 2015	February 2014 - April 2014	Increase	May 2014 - April 2015	May 2013 - April 2014	Increase
Lots Offered	2,680	2,818	-4.9%	9,368	9,758	-4.0%	34,682	34,734	-0.1%
Lots Sold	1,965	2,030	-3.2%	7,136	7,458	-4.3%	26,308	26,827	-1.9%
Percent Sold	73.3%	72%	1.8%	76.2%	76.4%	-0.3%	75.9%	77.2%	-1.7%
Total Raised	£242,438,823	£238,451,721	1.7%	£1,107,685,381	£1,142,468,119	-3.0%	£4,277,889,939	£3,986,232,112	7.3%

Residential

	Last Month			Last Quarter			Last Year
	April 2015	April 2014	Increase	February 2015 - April 2015	February 2014 - April 2014	Increase	May 2014 - April 2015	May 2013 - April 2014	Increase
Lots Offered	2,169	2,384	-9.0%	7,397	7,898	-6.3%	28,080	27,932	0.5%
Lots Sold	1,593	1,740	-8.4%	5,599	6,045	-7.4%	21,212	21,560	-1.6%
Percent Sold	73.4%	73%	0.5%	75.7%	76.5%	-1.0%	75.5%	77.2%	-2.2%
Total Raised	£206,870,373	£201,798,561	2.5%	£800,689,988	£821,435,261	-2.5%	£3,005,504,515	£2,789,978,535	7.7%

Commercial

	Last Month			Last Quarter			Last Year
	April 2015	April 2014	Increase	February 2015 - April 2015	February 2014 - April 2014	Increase	May 2014 - April 2015	May 2013 - April 2014	Increase
Lots Offered	511	434	17.7%	1,971	1,860	6.0%	6,602	6,802	-2.9%
Lots Sold	372	290	28.3%	1,537	1,413	8.8%	5,096	5,267	-3.2%
Percent Sold	72.8%	66.8%	9.0%	78%	76%	2.6%	77.2%	77.4%	-0.3%
Total Raised	£35,568,450	£36,653,160	-3.0%	£306,995,393	£321,032,858	-4.4%	£1,272,385,424	£1,196,253,577	6.4%

Regional Auction Analysis

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

East Anglia

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	292	286	2.1%
Lots Sold	227	235	-3.4%
Percent Sold	77.7%	82.2%	-5.5%
Total Raised	£30,640,550	£39,886,555	-23.2%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	208	207	0.5%
Lots Sold	163	166	-1.8%
Percent Sold	78.4%	80.2%	-2.2%
Total Raised	£20,052,050	£24,143,555	-16.9%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	84	79	6.3%
Lots Sold	64	69	-7.2%
Percent Sold	76.2%	87.3%	-12.7%
Total Raised	£10,588,500	£15,743,000	-32.7%

East Midlands

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	771	737	4.6%
Lots Sold	604	575	5.0%
Percent Sold	78.3%	78%	0.4%
Total Raised	£68,678,001	£66,472,043	3.3%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	595	620	-4.0%
Lots Sold	461	489	-5.7%
Percent Sold	77.5%	78.9%	-1.8%
Total Raised	£47,513,601	£49,861,993	-4.7%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	176	117	50.4%
Lots Sold	143	86	66.3%
Percent Sold	81.3%	73.5%	10.6%
Total Raised	£21,164,400	£16,610,050	27.4%

London

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	774	896	-13.6%
Lots Sold	640	785	-18.5%
Percent Sold	82.7%	87.6%	-5.6%
Total Raised	£265,077,050	£312,486,370	-15.2%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	713	814	-12.4%
Lots Sold	587	708	-17.1%
Percent Sold	82.3%	87%	-5.4%
Total Raised	£232,783,450	£259,339,270	-10.2%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	61	82	-25.6%
Lots Sold	53	77	-31.2%
Percent Sold	86.9%	93.9%	-7.5%
Total Raised	£32,293,600	£53,147,100	-39.2%

North-East

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	837	971	-13.8%
Lots Sold	617	674	-8.5%
Percent Sold	73.7%	69.4%	6.2%
Total Raised	£51,396,931	£56,820,889	-9.5%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	745	869	-14.3%
Lots Sold	552	604	-8.6%
Percent Sold	74.1%	69.5%	6.6%
Total Raised	£42,724,181	£43,501,639	-1.8%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	92	102	-9.8%
Lots Sold	65	70	-7.1%
Percent Sold	70.7%	68.6%	3.1%
Total Raised	£8,672,750	£13,319,250	-34.9%

North-West

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	1,586	1,802	-12.0%
Lots Sold	1,129	1,290	-12.5%
Percent Sold	71.2%	71.6%	-0.6%
Total Raised	£101,365,547	£110,932,510	-8.6%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	1,218	1,389	-12.3%
Lots Sold	870	1,020	-14.7%
Percent Sold	71.4%	73.4%	-2.7%
Total Raised	£66,485,243	£73,059,150	-9.0%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	368	413	-10.9%
Lots Sold	259	270	-4.1%
Percent Sold	70.4%	65.4%	7.6%
Total Raised	£34,880,304	£37,873,360	-7.9%

North-West Home Counties

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	324	351	-7.7%
Lots Sold	259	293	-11.6%
Percent Sold	79.9%	83.5%	-4.3%
Total Raised	£79,885,050	£89,070,525	-10.3%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	232	253	-8.3%
Lots Sold	187	208	-10.1%
Percent Sold	80.6%	82.2%	-1.9%
Total Raised	£48,628,750	£49,782,550	-2.3%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	92	98	-6.1%
Lots Sold	72	85	-15.3%
Percent Sold	78.3%	86.7%	-9.7%
Total Raised	£31,256,300	£39,287,975	-20.4%

Northern Ireland

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	290	358	-19.0%
Lots Sold	177	241	-26.6%
Percent Sold	61%	67.3%	-9.4%
Total Raised	£12,823,775	£17,248,550	-25.7%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	242	317	-23.7%
Lots Sold	140	211	-33.6%
Percent Sold	57.9%	66.6%	-13.1%
Total Raised	£9,559,275	£15,039,550	-36.4%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	48	41	17.1%
Lots Sold	37	30	23.3%
Percent Sold	77.1%	73.2%	5.3%
Total Raised	£3,264,500	£2,209,000	47.8%

Scotland

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	267	231	15.6%
Lots Sold	140	133	5.3%
Percent Sold	52.4%	57.6%	-9.0%
Total Raised	£13,968,650	£19,581,949	-28.7%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	196	170	15.3%
Lots Sold	93	90	3.3%
Percent Sold	47.4%	52.9%	-10.4%
Total Raised	£4,834,150	£4,850,849	-0.3%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	71	61	16.4%
Lots Sold	47	43	9.3%
Percent Sold	66.2%	70.5%	-6.1%
Total Raised	£9,134,500	£14,731,100	-38.0%

South-East Home Counties

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	1,088	1,030	5.6%
Lots Sold	888	856	3.7%
Percent Sold	81.6%	83.1%	-1.8%
Total Raised	£189,479,600	£159,496,025	18.8%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	846	841	0.6%
Lots Sold	695	702	-1.0%
Percent Sold	82.2%	83.5%	-1.6%
Total Raised	£134,815,100	£117,401,725	14.8%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	242	189	28.0%
Lots Sold	193	154	25.3%
Percent Sold	79.8%	81.5%	-2.1%
Total Raised	£54,664,500	£42,094,300	29.9%

South-West

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	655	600	9.2%
Lots Sold	508	473	7.4%
Percent Sold	77.6%	78.8%	-1.5%
Total Raised	£81,720,372	£77,590,939	5.3%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	481	406	18.5%
Lots Sold	360	316	13.9%
Percent Sold	74.8%	77.8%	-3.9%
Total Raised	£60,219,622	£50,892,289	18.3%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	174	194	-10.3%
Lots Sold	148	157	-5.7%
Percent Sold	85.1%	80.9%	5.2%
Total Raised	£21,500,750	£26,698,650	-19.5%

Wales

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	653	559	16.8%
Lots Sold	496	422	17.5%
Percent Sold	76%	75.5%	0.7%
Total Raised	£43,930,250	£37,248,900	17.9%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	473	417	13.4%
Lots Sold	360	309	16.5%
Percent Sold	76.1%	74.1%	2.7%
Total Raised	£26,372,000	£23,413,300	12.6%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	180	142	26.8%
Lots Sold	136	113	20.4%
Percent Sold	75.6%	79.6%	-5.0%
Total Raised	£17,558,250	£13,835,600	26.9%

West Midlands

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	1,020	892	14.3%
Lots Sold	822	691	19.0%
Percent Sold	80.6%	77.5%	4.0%
Total Raised	£110,511,439	£77,334,100	42.9%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	810	760	6.6%
Lots Sold	650	590	10.2%
Percent Sold	80.2%	77.6%	3.4%
Total Raised	£67,821,550	£58,560,150	15.8%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	210	132	59.1%
Lots Sold	172	101	70.3%
Percent Sold	81.9%	76.5%	7.1%
Total Raised	£42,689,889	£18,773,950	127.4%

Yorkshire and The Humber

Total
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	811	1,045	-22.4%
Lots Sold	629	790	-20.4%
Percent Sold	77.6%	75.6%	2.6%
Total Raised	£58,208,166	£78,298,764	-25.7%

Residential
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	638	835	-23.6%
Lots Sold	481	632	-23.9%
Percent Sold	75.4%	75.7%	-0.4%
Total Raised	£38,881,016	£51,589,241	-24.6%

Commercial
	February 2015 - April 2015	February 2014 - April 2014	Increase
Lots Offered	173	210	-17.6%
Lots Sold	148	158	-6.3%
Percent Sold	85.5%	75.2%	13.7%
Total Raised	£19,327,150	£26,709,523	-27.6%

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