Latest News:

  • September Auction News:  Despite August typically being a quieter month due to h...read more


  • August Auction News: The UK property auction market has been a hive of activity over the past year, and our latest figure...read more


  • EIG News February 2020:  February 2020 Newsletter ...read more


  • EIG News December 2019:  1184" width="100%" cellspacing="0" cellpadding="0" border="0"> "Times New...read more


  • EIG News November 2019:  November 2019 Newsletter ...read more


  • EIG News October 2019:  October 2019 Newsletter ...read more


  • EIG News September 2019:  September 2019 Newsletter ...read more


  • EIG News August 2019: Welcome to the August newsletter that looks back at auction activity in July and preceding periods....read more


  • EIG News July 2019:  Essential Auction News Welcome to the July newslette...read more


  • EIG News June 2019:  Essential Auction News Welcome to the June newsletter that looks back a...read more


  • EIG News May 2019:  Essential Auction News Welcome to the May newsletter that looks back at...read more


  • EIG News April 2019:  National Auction Analysis The number of residential lots offered and sold dropped by 22% in March...read more


  • EIG News March 2019:  National Auction Analysis Both sectors of the UK auction market experienced notable falls between...read more


  • EIG News February 2019:  Essential Auction News Welcome to the February newsletter that looks ba...read more


  • EIG News January 2019:  January 2019 Newsletter ...read more


  • EIG News December 2018:  December 2018 Newsletter ...read more


  • EIG News November 2018:  Essential Auction News Welcome to the November newsletter that looks ba...read more


  • EIG News October 2018:  Essential Auction News Welcome to the October newsletter that looks bac...read more


  • EIG News August 2018:  August 2018 Newsletter ...read more


  • EIG News July 2018:  Essential Auction News Welcome to the July newsletter that looks back a...read more


  • EIG News May 2018:  May 2018 Newsletter ...read more


  • EIG News April 2018:    Essential Auction News ...read more


  • EIG News March 2018:  March 2018 Newsletter ...read more


  • EIG Auction News February 2018:  February 2018 Newsletter ...read more


  • EIG Auction News: Essential Auction News Welcome to the November newsletter that looks back...read more


  • EIG Monthly Newsletter October 2017: Essential Auction News Welcome to the October newsletter that looks back ...read more


  • EIG Monthly Newsletter September 2017:  September 2017 Newsletter ...read more


  • EIG Monthly Newsletter August 2017:  August 2017 Newsletter ...read more


  • July 2017 Newsletter:  Essential Auction News Welcome to the July newsl...read more


  • EIG Monthly Newsletter April 2017:    Essential Auction News ...read more


  • EIG Monthly Newsletter February 2017:  February 2017 Newsletter ...read more


  • January 2017 Newsletter:  January 2017 Newsletter ...read more


  • Residential Market Survey December 2016:  Residential Market Survey Rics Ulster BankCHARTERED surveyors have claimed house sal...read more


  • December 2016 Newsletter:  December 2016 Newsletter ...read more


  • EIG Monthly Newsletter October 2016:  October 2016 Newsletter ...read more


  • EIG September News:  September 2016 Newsletter ...read more


  • Auction Data for May 2016 Double-digit growth when comparing May 2016 with May 2015:  Monthly News Update Overall Statistics May 2016 ...read more


  • Advice on Stamp Duty Land Tax In Northern Ireland: Stamp Duty Land Tax is a percentage paid on the purchase of a home or non-residential property to th...read more


  • Auction Data for November 2015:  Monthly News Update Overall Statistics November 2015 ...read more


  • EIG Monthly Newsletter November 2015:  Monthly News Update Overall Statistics October 2015 ...read more


  • Massive rise in Northern Ireland prices forecast by industry experts: They are also predicted to rise by 6% in the UK in the same period, according to the Royal Institut...read more


  • EIG Monthly Newsletter September 2015:  Monthly News Update Overall Statistics August 2015 ...read more


  • Property auction market returns to growth!:  Monthly News Update Overall Statistics June 2015 ...read more


  • House prices rise by 7.5% in Northern Ireland in 12 months, according to ONS report: House prices rise by 7.5% in Northern Ireland in 12 months, according to ONS reportBy Vicky ShawPUBL...read more


  • Auction Data for April 2015:  Auction Data for April 2015   Difficulty reading the figures? The figures be...read more


  • Auction Data For March 2015 - 23/03/2015:  Monthly News Update Overall Statistics February 2015 ...read more


  • Auction Data for January 2015:  Monthly News Update Overall Statistics January 2015 ...read more


  • EIG Monthly Newsletter January 2015:  Monthly News Update Overall Statistics December 2014 ...read more


  • Auction Data for November 2014:  Monthly News Update Overall Statistics November 2014 ...read more


  • Auction Data for October 2014:  Monthly News Update Overall Statistics October 2014 ...read more


  • How to succeed in the auction room: After the most buoyant quarter of house sales since records began, a sense of realism is setting inD...read more


  • EIG Monthly Newsletter October 2014:  Monthly News Update Overall Statistics September 2014 ...read more


  • BRG Gibson Auctions - EIG Monthly Newsletter September 2014:  Monthly News Update Overall Statistics August 2014 ...read more


  • Auction Data for July 2014:  Monthly News Update Overall Statistics July 2014 ...read more


  • Monthly News:  Monthly News Update Overall Statistics June 2014 ...read more


  • EIG Monthly Newsletter June 2014:  Monthly News Update Overall Statistics May 2014 ...read more


  • 68000 Northern Ireland homeowners in negative equity: 68000 Northern Ireland homeowners in negative equityNegative equity remains a large problem for home...read more


  • Going once, going twice... Sold!: In an article in the London Times recently it was reported that the words “Going once, going t...read more


  • Strong set of results, as over £400 million was raised across 128 UK auctions - a huge increase of 50% on March 2013:  Monthly News Update Overall Statistics March 2014 ...read more


  • Surge in auctions continues!:  Monthly News Update Overall Statistics February 2014 ...read more


  • Auction Data for January 2014:  Monthly News Update Overall Statistics January 2014 ...read more


  • BRG Gibson Auctions, Rated Top Regional Auction House in Northern Ireland for a 2nd Year by Estate Gazette!!! : Estate Gazettes Auctions: Regional Round-UP: Lots Of Good News In 2014 February EditionThere is a lo...read more


  • Homes Under the Hammer return to Belfast for BRG Gibson Auction 4th Feb Property Auction : Homes Under the Hammer return to Belfast for BRG Gibson Auction 4th Feb Property Auction   BR...read more


  • Year-end property auction newsletter shows rising sales and increased revenues:  Monthly News Update Overall Statistics December 2013 ...read more


  • Auction Activity 2013: This is the content of the Essential Information Group’s first newsletter of 2014, which looks...read more


  • Partner Agents/Joint Agency Opportunities: BRG Gibson Auctions welcomes instructions from estate agents who have suitable properties on their b...read more


  • Current Vacancies: Join us and become part of BRG Gibson Auction TeamCorporate Services CoordinatorCommercial Senior Sa...read more


  • BRG Gibson Auctions TO BE A TV HIT! Homes Under the Hammer!!!: BRG Gibson Auctions TO BE A TV HIT! Homes Under the Hammer!!!   Lion TV Scotland, Homes Under...read more


  • Property auctions record all-time highs in October!:  Essential Auction News Welcome to the November newsletter that looks back at ...read more


  • Essential Auction News:  Essential Auction News Welcome to the October newsletter that looks back at ...read more


  • Ten years until Price Recovery.: The consultancy firm Price Waterhouse Coopers have warned that it may take more than a decade f...read more


  • Property auction market continues to grow:  Essential Auction NewsWelcome to the September newsletter that looks back at property auction acti...read more


  • Average House Prices rising in N. Ireland: The price balance of the latest RICS and Ulster Bank Housing Market Survey for Northern Ireland was ...read more


  • Estates Gazette Top regional auction houses for H1 2013 by amount raised: Property auctions in Northern Ireland recorded the largest regional growth in the first half of 2013...read more


  • : Auctions have acquired a reputation as a place where banks cleared bankrupt stock, but a recent arti...read more


  • Activity in the N Ireland market in the 1st Quarter 2013: The three-month period to the end of March 2013 was the first since the summer of 2007 in which Nort...read more


  • Craigavon most effected area in the UK by drop in House Prices. First Time Home Buyers at 5 Year High.: Towards the end of December last year it was reported that the average cost of a home in Craigavon w...read more


  • Housing Market Survey and Annual Auction Results.: The most recent Northern Ireland housing market survey produced by the Ulster Bank and the Northern ...read more


  • National Auction Analysis EIG:  National Auction Analysis As expected, the residential market witnessed large increas...read more


  • Investors Buying NOW While House Prices Hit Low!: House prices are still falling in Northern Ireland according to the latest RICS (Royal Institut...read more


  • N. I. House prices fall greatest in U.K.: Helen Carson, who writes on property related matters in the Belfast Telegraph wrote in the paper on ...read more


  • Housing Market Downturn is now five years old.:    According to the latest RICS and Ulster Bank Housing Market Survey for July 2012.Norther...read more


  • Current Market Conditions and Let the Buyer Beware: The price balance of the latest RICS and Ulster Bank Housing Market Survey recorded its lowest readi...read more


  • RICS and Ulster Bank Housing Market Survey: We are on the eve of our next auction, to be held at the Stormont Hotel on the Tuesday the 8th May. ...read more


  • March Auction 2012:  Hot on the heels of their previous very successful auction held at the Stormont Hotel, Upper Newto...read more


  • 2 Feb 2012 - Mustbesold.com & BRG Gibson Auctions: BRG Gibson Auctions AnnounceOn the 2nd of February 2012 at the Stormont Hotel Belfast, there will be...read more


EIG Monthly Newsletter November 2015

Go to our homepage

Monthly News Update

Overall Statistics October 2015

Auctions Held in the UK

162

Total Lots Offered

3,266

Total Lots Sold

2,406

Percent Sold

73.7%

Total Realised

£517,518,879

 

Auction Data for October 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/november.html

Essential Auction News

David Sandeman, Managing Director

Welcome to the November newsletter that looks back at auction activity in October and preceding periods. UK auctioneers held 162 auctions last month, with 3,266 lots going under the hammer. This was 721 fewer lots than last year (down 18%), however before one digests the figures it should be noted that last year five major residential auctioneers held their Autumn auction at the end of October, offering 525 lots and raising almost £90M between them. This year the same auctioneers held their corresponding auctions at the beginning of November, and we expect this to be reflected when we report on the market's performance in next month's newsletter.

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

Kind regards

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

National Auction Analysis

As highlighted above, this month's figures are somewhat skewed by the disparity in auction dates chosen by several major auction houses. That notwithstanding, it is still apparent that the market has slowed since the heights of 2014, when the volumes of lots offered and sold at auction were reaching record-breaking numbers. The slowdown has been more pronounced in the residential sector, and this persisted last month as lots offered and sold were both down by 20% and 19% respectively whilst the amount raised fell by 14% to £295.1M. The recent slowdown is also emphasized by the lots offered figures shown in the rolling quarterly and yearly comparisons - down 11% and 7% respectively.

The commercial auction market has been performing strongly for much of this year, so it could be that the recent slow-down is simply a case of the market pausing for breath. 12% fewer commercial lots were offered last month compared with October 2014, yet the market achieved a 77% success rate and an 11% gain in revenues (up to £222.3M) - these are certainly encouraging numbers and one hopes that both sectors enjoy a strong finish to the year.

 

Total

Last Month

Last Quarter

Last Year

October 2015

October 2014

Increase

August 2015 - October 2015

August 2014 - October 2014

Increase

November 2014 - October 2015

November 2013 - October 2014

Increase

Lots Offered

3,266

3,987

-18.1%

7,977

8,919

-10.6%

32,968

35,302

-6.6%

Lots Sold

2,406

2,904

-17.1%

5,863

6,423

-8.7%

25,147

26,837

-6.3%

Percent Sold

73.7%

72.8%

1.2%

73.5%

72%

2.1%

76.3%

76%

0.4%

Total Raised

£517,518,879

£542,278,962

-4.6%

£998,360,465

£1,002,948,498

-0.5%

£4,237,934,699

£4,254,951,655

-0.4%

 

Residential

Last Month

Last Quarter

Last Year

October 2015

October 2014

Increase

August 2015 - October 2015

August 2014 - October 2014

Increase

November 2014 - October 2015

November 2013 - October 2014

Increase

Lots Offered

2,465

3,078

-19.9%

6,573

7,393

-11.1%

26,530

28,660

-7.4%

Lots Sold

1,790

2,217

-19.3%

4,824

5,323

-9.4%

20,107

21,813

-7.8%

Percent Sold

72.6%

72%

0.8%

73.4%

72%

1.9%

75.8%

76.1%

-0.4%

Total Raised

£295,161,629

£342,254,931

-13.8%

£723,372,541

£751,401,415

-3.7%

£2,972,155,792

£2,992,353,132

-0.7%

 

Commercial

Last Month

Last Quarter

Last Year

October 2015

October 2014

Increase

August 2015 - October 2015

August 2014 - October 2014

Increase

November 2014 - October 2015

November 2013 - October 2014

Increase

Lots Offered

801

909

-11.9%

1,404

1,526

-8.0%

6,438

6,642

-3.1%

Lots Sold

616

687

-10.3%

1,039

1,100

-5.5%

5,040

5,024

0.3%

Percent Sold

76.9%

75.6%

1.7%

74%

72.1%

2.6%

78.3%

75.6%

3.6%

Total Raised

£222,357,250

£200,024,031

11.2%

£274,987,924

£251,547,083

9.3%

£1,265,778,907

£1,262,598,523

0.3%

 

 

Regional Auction Analysis

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

East Anglia

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

193

288

-33.0%

Lots Sold

142

222

-36.0%

Percent Sold

73.6%

77.1%

-4.5%

Total Raised

£27,279,000

£33,914,950

-19.6%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

142

231

-38.5%

Lots Sold

103

178

-42.1%

Percent Sold

72.5%

77.1%

-6.0%

Total Raised

£14,410,500

£25,894,950

-44.4%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

51

57

-10.5%

Lots Sold

39

44

-11.4%

Percent Sold

76.5%

77.2%

-0.9%

Total Raised

£12,868,500

£8,020,000

60.5%

 

East Midlands

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

677

751

-9.9%

Lots Sold

497

551

-9.8%

Percent Sold

73.4%

73.4%

0.0%

Total Raised

£61,717,243

£64,673,754

-4.6%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

559

633

-11.7%

Lots Sold

400

465

-14.0%

Percent Sold

71.6%

73.5%

-2.6%

Total Raised

£42,381,843

£47,011,754

-9.8%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

118

118

0.0%

Lots Sold

97

86

12.8%

Percent Sold

82.2%

72.9%

12.8%

Total Raised

£19,335,400

£17,662,000

9.5%

 

London

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

565

726

-22.2%

Lots Sold

430

555

-22.5%

Percent Sold

76.1%

76.4%

-0.4%

Total Raised

£194,412,150

£244,786,349

-20.6%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

512

686

-25.4%

Lots Sold

381

525

-27.4%

Percent Sold

74.4%

76.5%

-2.7%

Total Raised

£170,104,750

£219,511,849

-22.5%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

53

40

32.5%

Lots Sold

49

30

63.3%

Percent Sold

92.5%

75%

23.3%

Total Raised

£24,307,400

£25,274,500

-3.8%

 

North-East

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

714

833

-14.3%

Lots Sold

478

581

-17.7%

Percent Sold

66.9%

69.7%

-4.0%

Total Raised

£39,381,645

£47,892,475

-17.8%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

659

768

-14.2%

Lots Sold

447

539

-17.1%

Percent Sold

67.8%

70.2%

-3.4%

Total Raised

£33,419,145

£39,595,725

-15.6%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

55

65

-15.4%

Lots Sold

31

42

-26.2%

Percent Sold

56.4%

64.6%

-12.7%

Total Raised

£5,962,500

£8,296,750

-28.1%

 

North-West

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

1,372

1,430

-4.1%

Lots Sold

987

967

2.1%

Percent Sold

71.9%

67.6%

6.4%

Total Raised

£92,783,536

£88,329,787

5.0%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

1,112

1,117

-0.4%

Lots Sold

805

755

6.6%

Percent Sold

72.4%

67.6%

7.1%

Total Raised

£71,513,186

£60,394,511

18.4%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

260

313

-16.9%

Lots Sold

182

212

-14.2%

Percent Sold

70%

67.7%

3.4%

Total Raised

£21,270,350

£27,935,276

-23.9%

 

North-West Home Counties

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

301

313

-3.8%

Lots Sold

246

249

-1.2%

Percent Sold

81.7%

79.6%

2.6%

Total Raised

£88,382,500

£72,081,127

22.6%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

231

249

-7.2%

Lots Sold

188

191

-1.6%

Percent Sold

81.4%

76.7%

6.1%

Total Raised

£58,777,000

£41,463,627

41.8%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

70

64

9.4%

Lots Sold

58

58

0.0%

Percent Sold

82.9%

90.6%

-8.5%

Total Raised

£29,605,500

£30,617,500

-3.3%

 

Northern Ireland

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

190

301

-36.9%

Lots Sold

81

179

-54.7%

Percent Sold

42.6%

59.5%

-28.4%

Total Raised

£5,660,000

£11,275,550

-49.8%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

176

281

-37.4%

Lots Sold

78

170

-54.1%

Percent Sold

44.3%

60.5%

-26.8%

Total Raised

£5,460,000

£10,477,550

-47.9%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

14

20

-30.0%

Lots Sold

3

9

-66.7%

Percent Sold

21.4%

45%

-52.4%

Total Raised

£200,000

£798,000

-74.9%

 

Scotland

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

251

296

-15.2%

Lots Sold

168

154

9.1%

Percent Sold

66.9%

52%

28.7%

Total Raised

£27,017,700

£10,930,505

147.2%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

186

246

-24.4%

Lots Sold

121

126

-4.0%

Percent Sold

65.1%

51.2%

27.1%

Total Raised

£13,879,600

£6,301,505

120.3%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

65

50

30.0%

Lots Sold

47

28

67.9%

Percent Sold

72.3%

56%

29.1%

Total Raised

£13,138,100

£4,629,000

183.8%

 

South-East Home Counties

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

783

872

-10.2%

Lots Sold

638

686

-7.0%

Percent Sold

81.5%

78.7%

3.6%

Total Raised

£171,082,650

£152,687,053

12.0%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

634

694

-8.6%

Lots Sold

523

547

-4.4%

Percent Sold

82.5%

78.8%

4.7%

Total Raised

£124,184,600

£106,332,698

16.8%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

149

178

-16.3%

Lots Sold

115

139

-17.3%

Percent Sold

77.2%

78.1%

-1.2%

Total Raised

£46,898,050

£46,354,355

1.2%

 

South-West

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

545

660

-17.4%

Lots Sold

400

494

-19.0%

Percent Sold

73.4%

74.8%

-1.9%

Total Raised

£86,354,650

£89,796,349

-3.8%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

387

479

-19.2%

Lots Sold

283

346

-18.2%

Percent Sold

73.1%

72.2%

1.2%

Total Raised

£56,433,650

£58,582,849

-3.7%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

158

181

-12.7%

Lots Sold

117

148

-20.9%

Percent Sold

74.1%

81.8%

-9.4%

Total Raised

£29,921,000

£31,213,500

-4.1%

 

Wales

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

648

618

4.9%

Lots Sold

471

450

4.7%

Percent Sold

72.7%

72.8%

-0.1%

Total Raised

£41,206,694

£43,538,474

-5.4%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

518

471

10.0%

Lots Sold

383

337

13.6%

Percent Sold

73.9%

71.5%

3.4%

Total Raised

£29,503,820

£27,238,973

8.3%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

130

147

-11.6%

Lots Sold

88

113

-22.1%

Percent Sold

67.7%

76.9%

-12.0%

Total Raised

£11,702,874

£16,299,501

-28.2%

 

West Midlands

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

938

955

-1.8%

Lots Sold

723

710

1.8%

Percent Sold

77.1%

74.3%

3.8%

Total Raised

£98,841,741

£79,427,926

24.4%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

771

793

-2.8%

Lots Sold

593

596

-0.5%

Percent Sold

76.9%

75.2%

2.3%

Total Raised

£61,203,491

£59,466,225

2.9%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

167

162

3.1%

Lots Sold

130

114

14.0%

Percent Sold

77.8%

70.4%

10.5%

Total Raised

£37,638,250

£19,961,701

88.6%

 

Yorkshire and The Humber

Total

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

800

876

-8.7%

Lots Sold

602

625

-3.7%

Percent Sold

75.3%

71.3%

5.6%

Total Raised

£64,240,956

£63,614,199

1.0%

 

Residential

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

686

745

-7.9%

Lots Sold

519

548

-5.3%

Percent Sold

75.7%

73.6%

2.9%

Total Raised

£42,100,956

£49,129,199

-14.3%

 

Commercial

August 2015 - October 2015

August 2014 - October 2014

Increase

Lots Offered

114

131

-13.0%

Lots Sold

83

77

7.8%

Percent Sold

72.8%

58.8%

23.8%

Total Raised

£22,140,000

£14,485,000

52.8%