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EIG Monthly Newsletter October 2016

Essential Information Group

October 2016 Newsletter

EIG monthly Newsletter

 

Essential Auction News

Welcome to the October newsletter that looks back at auction activity in September and preceding periods. For whatever reason, the auction market continues to gently contract and this is evidenced by the red 'down' arrows that dominate the comparative figures shown below.

Lots offered and lots sold both fell by 6% and 8.5% respectively last month, whilst the overall amount raised fell by £36M (down 8.4%). When coupled with the falls witnessed in July, it is unsurprising to see that Q3 figures are also down on last year, with sales falling by 6% to 6,145 lots from 6,559 in Q3 15 and revenues down over 11% to £956M from £1.079bn.

It should be noted, however, that these falls are still dwarfed by the drops we saw back in 2008 and 2009, when double-digit decreases were evident almost every month. As ever I would welcome any feedback you have regarding the newsletter, or indeed the market in general.

Overall Statistics September 2016

Auctions Held in the UK

181

Total Lots Offered

3,647

Total Lots Sold

2,626

Percent Sold

72%

Total Realised

£390,373,625

National Auction Analysis

Both sectors experienced falls in lots offered last month, with residential instructions dropping by 5.5% from 3,345 lots to 3,160 lots and commercial instructions dropping by 8.1% from 530 lots to 487 lots. Whilst falling by around 10% in September and Q3, the residential amount raised remains up over 8% for the rolling year (Oct 15 - Sep 16), and up 7.7% for the same period in the commercial market.

Total

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

September 2016

July 2016 to September 2016

October 2015 to September 2016

Lots Offered

3,647 (3,875)

5.9%

8,471 (8,722)

2.9%

33,737 (33,685)

0.2%

Lots Sold

2,626 (2,871)

8.5%

6,145 (6,559)

6.3%

25,636 (25,706)

0.3%

Percent Sold

72.0% (74.1%)

2.8%

72.5% (75.2%)

3.6%

76.0% (76.3%)

0.4%

Total Raised

£390M (£426M)

8.4%

£956M (£1,079M)

11.4%

£4,656M (£4,313M)

8.0%


Residential

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

September 2016

July 2016 to September 2016

October 2015 to September 2016

Lots Offered

3,160 (3,345)

5.5%

7,090 (7,317)

3.1%

27,888 (27,138)

2.8%

Lots Sold

2,289 (2,495)

8.3%

5,127 (5,503)

6.8%

21,069 (20,571)

2.4%

Percent Sold

72.4% (74.6%)

2.9%

72.3% (75.2%)

3.9%

75.5% (75.8%)

0.4%

Total Raised

£342M (£378M)

9.5%

£736M (£818M)

10.0%

£3,271M (£3,027M)

8.1%


Commercial

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

September 2016

July 2016 to September 2016

October 2015 to September 2016

Lots Offered

487 (530)

8.1%

1,381 (1,405)

1.7%

5,849 (6,547)

10.7%

Lots Sold

337 (376)

10.4%

1,018 (1,056)

3.6%

4,567 (5,135)

11.1%

Percent Sold

69.2% (70.9%)

2.4%

73.7% (75.2%)

2.0%

78.1% (78.4%)

0.4%

Total Raised

£48M (£48M)

0.2%

£220M (£261M)

15.9%

£1,385M (£1,286M)

7.7%


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

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

211 (249)

15.3%

160 (194)

17.5%

51 (55)

7.3%

Lots Sold

167 (192)

13.0%

125 (144)

13.2%

42 (48)

12.5%

Percent Sold

79.1% (77.1%)

2.6%

78.1% (74.2%)

5.3%

82.4% (87.3%)

5.6%

Total Raised

£24M (£29M)

16.6%

£17M (£20M)

15.9%

£7M (£9M)

18.3%


East-MidlandsEast Midlands

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

725 (743)

2.4%

616 (625)

1.4%

109 (118)

7.6%

Lots Sold

559 (547)

2.2%

471 (451)

4.4%

88 (96)

8.3%

Percent Sold

77.1% (73.6%)

4.8%

76.5% (72.2%)

6.0%

80.7% (81.4%)

0.9%

Total Raised

£64M (£68M)

5.3%

£48M (£49M)

3.2%

£16M (£18M)

10.8%


LondonLondon

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

621 (698)

11.0%

582 (642)

9.3%

39 (56)

30.4%

Lots Sold

437 (559)

21.8%

408 (509)

19.8%

29 (50)

42.0%

Percent Sold

70.4% (80.1%)

12.1%

70.1% (79.3%)

11.6%

74.4% (89.3%)

16.7%

Total Raised

£185M (£228M)

18.6%

£169M (£196M)

14.0%

£16M (£31M)

47.5%


North-EastNorth-East

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

771 (782)

1.4%

712 (730)

2.5%

59 (52)

13.5%

Lots Sold

534 (550)

2.9%

490 (507)

3.4%

44 (43)

2.3%

Percent Sold

69.3% (70.3%)

1.4%

68.8% (69.5%)

1.0%

74.6% (82.7%)

9.8%

Total Raised

£41M (£46M)

10.9%

£35M (£36M)

3.6%

£7M (£11M)

35.8%


North-WestNorth-West

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

1,464 (1,435)

2.0%

1,211 (1,182)

2.5%

253 (253)

0.0%

Lots Sold

1,051 (1,061)

0.9%

858 (892)

3.8%

193 (169)

14.2%

Percent Sold

71.8% (73.9%)

2.8%

70.9% (75.5%)

6.1%

76.3% (66.8%)

14.2%

Total Raised

£108M (£102M)

5.6%

£70M (£75M)

5.9%

£38M (£27M)

36.6%


North-West-Home-CountiesNorth-West Home Counties

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

374 (316)

18.4%

323 (265)

21.9%

51 (51)

0.0%

Lots Sold

300 (259)

15.8%

268 (224)

19.6%

32 (35)

8.6%

Percent Sold

80.2% (82.0%)

2.2%

83.0% (84.5%)

1.8%

62.7% (68.6%)

8.6%

Total Raised

£75M (£83M)

9.1%

£63M (£65M)

3.9%

£13M (£18M)

28.0%


Northern-IrelandNorthern Ireland

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

148 (193)

23.3%

127 (178)

28.7%

21 (15)

40.0%

Lots Sold

76 (81)

6.2%

65 (78)

16.7%

11 (3)

266.7%

Percent Sold

51.4% (42.0%)

22.4%

51.2% (43.8%)

16.9%

52.4% (20.0%)

162.0%

Total Raised

£6M (£5M)

4.0%

£4M (£5M)

16.1%

£1M (£0M)

700.3%


ScotlandScotland

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

259 (219)

18.3%

221 (167)

32.3%

38 (52)

26.9%

Lots Sold

129 (147)

12.2%

106 (106)

0.0%

23 (41)

43.9%

Percent Sold

49.8% (67.1%)

25.8%

48.0% (63.5%)

24.4%

60.5% (78.8%)

23.2%

Total Raised

£9M (£21M)

59.0%

£6M (£13M)

51.4%

£2M (£8M)

71.1%


South-East-Home-CountiesSouth-East Home Counties

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

885 (988)

10.4%

735 (825)

10.9%

150 (163)

8.0%

Lots Sold

672 (811)

17.1%

567 (683)

17.0%

105 (128)

18.0%

Percent Sold

75.9% (82.1%)

7.6%

77.1% (82.8%)

6.9%

70.0% (78.5%)

10.8%

Total Raised

£165M (£192M)

13.8%

£125M (£144M)

13.4%

£41M (£48M)

15.1%


South-WestSouth-West

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

666 (630)

5.7%

468 (494)

5.3%

198 (136)

45.6%

Lots Sold

474 (470)

0.9%

328 (363)

9.6%

146 (107)

36.4%

Percent Sold

71.2% (74.6%)

4.6%

70.1% (73.5%)

4.6%

73.7% (78.7%)

6.4%

Total Raised

£79M (£96M)

17.7%

£60M (£73M)

18.7%

£20M (£23M)

14.3%


WalesWales

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

608 (663)

8.3%

487 (501)

2.8%

121 (162)

25.3%

Lots Sold

447 (495)

9.7%

355 (384)

7.6%

92 (111)

17.1%

Percent Sold

73.5% (74.7%)

1.6%

72.9% (76.6%)

4.8%

76.0% (68.5%)

10.9%

Total Raised

£41M (£43M)

3.7%

£28M (£31M)

10.8%

£13M (£12M)

15.5%


West-MidlandsWest Midlands

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

954 (995)

4.1%

789 (827)

4.6%

165 (168)

1.8%

Lots Sold

720 (770)

6.5%

605 (646)

6.3%

115 (124)

7.3%

Percent Sold

75.5% (77.4%)

2.5%

76.7% (78.1%)

1.8%

69.7% (73.8%)

5.6%

Total Raised

£95M (£93M)

1.3%

£72M (£66M)

8.3%

£23M (£27M)

15.8%


Yorkshire-and-The-HumberYorkshire and The Humber

July 2016 to September 2016

Total

Residential

Commercial

Lots Offered

785 (811)

3.2%

659 (687)

4.1%

126 (124)

1.6%

Lots Sold

579 (617)

6.2%

481 (516)

6.8%

98 (101)

3.0%

Percent Sold

73.8% (76.1%)

3.0%

73.0% (75.1%)

2.8%

77.8% (81.5%)

4.5%

Total Raised

£64M (£73M)

13.2%

£41M (£44M)

6.9%

£23M (£29M)

22.6%


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.

A word from the editor


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

Kind regards

David Sandeman

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