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EIG Monthly Newsletter April 2017

 

Essential Auction News

Welcome to the April newsletter that looks back at auction activity in March and preceding periods. Overall lots offered was down 6.5% last month, from 2,962 lots to 2,769 lots, whilst lots sold fell by 5.7%, from 2,188 lots to 2,064 lots. The total raised at auction fell by £32M to £402M, down 7.3% from £434M raised in March 2016.

As highlighted last month, the recent falls could be largely attributed to the unprecedented spikes we saw in February and to a lesser extent in March last year, when an influx of buyers and sellers rushed to beat the impending stamp duty hikes.

We may also be witnessing a market which is just easing back the throttle a little. It wouldn't be unsurprsing either, considering that the Government has recently introduced measures to try and cool the buy-to-let market whilst house price inflation has also seemingly slowed. Encouraging though, despite the drop-off in numbers we are still seeing an average sale rate of around 75% which shows sale rooms remain competitive with buyers aplenty.

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

Overall Statistics March 2017

Auctions Held in the UK

127

Total Lots Offered

2,769

Total Lots Sold

2,064

Percent Sold

74.5%

Total Realised

£402,196,601

National Auction Analysis

The residential sector saw instructions fall by 9.3% last month, down 229 lots to 2,228, whilst sales dropped by almost 8% to 1,646 lots. Figures for Q1 show double-digit falls in lots offered, sold and amount raised, but as mentioned above it should not be cause for alarm as it is almost entirely due to the record-breaking activity seen in Q1 2016 prior to the stamp duty changes.

Commercial lots offered increased by 7% in March, to 541 lots (up from 505 in March 2016), whilst sales grew by almost 5% to 418 lots sold. However, the amount realised from commercial property sales decreased by 14% (down £23M), indicating a rise in smaller lot sizes.

Overall

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

March 2017

January 2017 to March 2017

April 2016 to March 2017

Lots Offered

2,769 (2,962)

▼ 6.5%

7,074 (7,902)

▼ 10.5%

33,091 (33,954)

▼ 2.5%

Lots Sold

2,064 (2,188)

▼ 5.7%

5,444 (6,034)

▼ 9.8%

25,109 (26,301)

▼ 4.5%

Percent Sold

74.5% (73.9%)

▲ 0.8%

77.0% (76.4%)

▲ 0.8%

75.9% (77.5%)

▼ 2.1%

Total Raised

£402M (£434M)

▼ 7.3%

£1,026M (£1,146M)

▼ 10.5%

£4,489M (£4,702M)

▼ 4.5%

Residential

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

March 2017

January 2017 to March 2017

April 2016 to March 2017

Lots Offered

2,228 (2,457)

▼ 9.3%

5,845 (6,686)

▼ 12.6%

27,218 (27,856)

▼ 2.3%

Lots Sold

1,646 (1,788)

▼ 7.9%

4,451 (5,077)

▼ 12.3%

20,478 (21,481)

▼ 4.7%

Percent Sold

73.9% (72.8%)

▲ 1.5%

76.2% (75.9%)

▲ 0.4%

75.2% (77.1%)

▼ 2.5%

Total Raised

£262M (£271M)

▼ 3.3%

£713M (£792M)

▼ 9.9%

£3,127M (£3,324M)

▼ 5.9%

Commercial

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

March 2017

January 2017 to March 2017

April 2016 to March 2017

Lots Offered

541 (505)

▲ 7.1%

1,229 (1,216)

▲ 1.1%

5,873 (6,098)

▼ 3.7%

Lots Sold

418 (400)

▲ 4.5%

993 (957)

▲ 3.8%

4,631 (4,820)

▼ 3.9%

Percent Sold

77.3% (79.2%)

▼ 2.4%

80.8% (78.7%)

▲ 2.7%

78.9% (79.0%)

▼ 0.1%

Total Raised

£140M (£163M)

▼ 14.0%

£313M (£354M)

▼ 11.6%

£1,362M (£1,378M)

▼ 1.2%

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

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

195 (196)

▼ 0.5%

146 (142)

▲ 2.8%

49 (54)

▼ 9.3%

Lots Sold

160 (148)

▲ 8.1%

120 (109)

▲ 10.1%

40 (39)

▲ 2.6%

Percent Sold

82.1% (75.5%)

▲ 8.7%

82.2% (76.8%)

▲ 7.0%

81.6% (72.2%)

▲ 13.0%

Total Raised

£30M (£24M)

▲ 24.5%

£19M (£15M)

▲ 31.6%

£11M (£10M)

▲ 13.7%

East-MidlandsEast Midlands

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

493 (606)

▼ 18.6%

411 (509)

▼ 19.3%

82 (97)

▼ 15.5%

Lots Sold

394 (465)

▼ 15.3%

333 (391)

▼ 14.8%

61 (74)

▼ 17.6%

Percent Sold

79.9% (76.7%)

▲ 4.2%

81.0% (76.8%)

▲ 5.5%

74.4% (76.3%)

▼ 2.5%

Total Raised

£59M (£72M)

▼ 17.5%

£35M (£47M)

▼ 24.8%

£24M (£25M)

▼ 3.8%

LondonLondon

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

668 (735)

▼ 9.1%

602 (673)

▼ 10.5%

66 (62)

▲ 6.5%

Lots Sold

504 (607)

▼ 17.0%

447 (549)

▼ 18.6%

57 (58)

▼ 1.7%

Percent Sold

75.4% (82.6%)

▼ 8.7%

74.3% (81.6%)

▼ 8.9%

86.4% (93.5%)

▼ 7.6%

Total Raised

£238M (£276M)

▼ 13.6%

£207M (£233M)

▼ 11.5%

£32M (£42M)

▼ 25.1%

North-EastNorth-East

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

690 (757)

▼ 8.9%

639 (701)

▼ 8.8%

51 (56)

▼ 8.9%

Lots Sold

534 (539)

▼ 0.9%

496 (502)

▼ 1.2%

38 (37)

▲ 2.7%

Percent Sold

77.4% (71.2%)

▲ 8.7%

77.6% (71.6%)

▲ 8.4%

74.5% (66.1%)

▲ 12.7%

Total Raised

£42M (£45M)

▼ 7.7%

£33M (£35M)

▼ 5.1%

£8M (£10M)

▼ 16.9%

North-WestNorth-West

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

1,118 (1,342)

▼ 16.7%

922 (1,137)

▼ 18.9%

196 (205)

▼ 4.4%

Lots Sold

836 (970)

▼ 13.8%

685 (814)

▼ 15.8%

151 (156)

▼ 3.2%

Percent Sold

74.8% (72.3%)

▲ 3.5%

74.3% (71.6%)

▲ 3.8%

77.0% (76.1%)

▲ 1.2%

Total Raised

£91M (£94M)

▼ 2.3%

£55M (£66M)

▼ 17.2%

£37M (£28M)

▲ 32.9%

North-West-Home-CountiesNorth-West Home Counties

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

296 (296)

▼ 0.0%

233 (229)

▲ 1.7%

63 (67)

▼ 6.0%

Lots Sold

234 (249)

▼ 6.0%

179 (189)

▼ 5.3%

55 (60)

▼ 8.3%

Percent Sold

79.1% (84.1%)

▼ 5.9%

76.8% (82.5%)

▼ 6.9%

87.3% (89.6%)

▼ 2.6%

Total Raised

£89M (£104M)

▼ 14.4%

£57M (£58M)

▼ 1.9%

£32M (£46M)

▼ 30.3%

Northern-IrelandNorthern Ireland

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

234 (268)

▼ 12.7%

196 (226)

▼ 13.3%

38 (42)

▼ 9.5%

Lots Sold

120 (154)

▼ 22.1%

95 (130)

▼ 26.9%

25 (24)

▲ 4.2%

Percent Sold

51.3% (57.5%)

▼ 10.8%

48.5% (57.5%)

▼ 15.7%

65.8% (57.1%)

▲ 15.2%

Total Raised

£9M (£13M)

▼ 28.2%

£7M (£10M)

▼ 30.3%

£2M (£3M)

▼ 20.4%

ScotlandScotland

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

272 (238)

▲ 14.3%

172 (188)

▼ 8.5%

100 (50)

▲ 100.0%

Lots Sold

198 (151)

▲ 31.1%

108 (118)

▼ 8.5%

90 (33)

▲ 172.7%

Percent Sold

72.8% (63.4%)

▲ 14.8%

62.8% (62.8%)

▼ 0.0%

90.0% (66.0%)

▲ 36.4%

Total Raised

£28M (£13M)

▲ 118.1%

£7M (£7M)

▼ 2.4%

£21M (£6M)

▲ 252.3%

South-East-Home-CountiesSouth-East Home Counties

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

891 (1,030)

▼ 13.5%

741 (847)

▼ 12.5%

150 (183)

▼ 18.0%

Lots Sold

716 (846)

▼ 15.4%

592 (689)

▼ 14.1%

124 (157)

▼ 21.0%

Percent Sold

80.4% (82.1%)

▼ 2.1%

79.9% (81.3%)

▼ 1.7%

82.7% (85.8%)

▼ 3.6%

Total Raised

£195M (£231M)

▼ 15.8%

£136M (£149M)

▼ 9.2%

£59M (£82M)

▼ 28.0%

South-WestSouth-West

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

383 (488)

▼ 21.5%

272 (380)

▼ 28.4%

111 (108)

▲ 2.8%

Lots Sold

300 (369)

▼ 18.7%

206 (283)

▼ 27.2%

94 (86)

▲ 9.3%

Percent Sold

78.3% (75.6%)

▲ 3.6%

75.7% (74.5%)

▲ 1.6%

84.7% (79.6%)

▲ 6.4%

Total Raised

£73M (£77M)

▼ 4.1%

£42M (£50M)

▼ 16.1%

£32M (£27M)

▲ 18.5%

WalesWales

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

437 (417)

▲ 4.8%

346 (345)

▲ 0.3%

91 (72)

▲ 26.4%

Lots Sold

327 (324)

▲ 0.9%

260 (268)

▼ 3.0%

67 (56)

▲ 19.6%

Percent Sold

74.8% (77.7%)

▼ 3.7%

75.1% (77.7%)

▼ 3.3%

73.6% (77.8%)

▼ 5.4%

Total Raised

£28M (£28M)

▲ 0.7%

£20M (£19M)

▲ 4.4%

£8M (£9M)

▼ 7.2%

West-MidlandsWest Midlands

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

698 (757)

▼ 7.8%

580 (636)

▼ 8.8%

118 (121)

▼ 2.5%

Lots Sold

559 (608)

▼ 8.1%

461 (507)

▼ 9.1%

98 (101)

▼ 3.0%

Percent Sold

80.1% (80.3%)

▼ 0.2%

79.5% (79.7%)

▼ 0.3%

83.1% (83.5%)

▼ 0.5%

Total Raised

£86M (£98M)

▼ 11.8%

£54M (£55M)

▼ 1.5%

£32M (£43M)

▼ 24.9%

Yorkshire-and-The-HumberYorkshire and The Humber

January 2017 to March 2017

Total

Residential

Commercial

Lots Offered

699 (772)

▼ 9.5%

585 (673)

▼ 13.1%

114 (99)

▲ 15.2%

Lots Sold

562 (604)

▼ 7.0%

469 (528)

▼ 11.2%

93 (76)

▲ 22.4%

Percent Sold

80.4% (78.2%)

▲ 2.8%

80.2% (78.5%)

▲ 2.2%

81.6% (76.8%)

▲ 6.3%

Total Raised

£57M (£73M)

▼ 21.4%

£42M (£48M)

▼ 11.9%

£15M (£25M)

▼ 39.7%

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

David Sandeman


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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