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EIG News March 2018

Essential Information Group

March 2018 Newsletter

EIG monthly Newsletter

 

Essential Auction News

Welcome to the March newsletter that looks back at auction activity in February and preceding periods. I am pleased to report on a strong set of auction results last month, with overall lots offered up almost 6% to 4,067 lots and a 3% increase in sales to 3,087 lots.

Ignoring the anomaly of February 2016 when we saw an unprecedented spike in transactions due to the impending stamp duty changes, the 3,436 residential lots offered is the highest volume ever recorded in February; easily surpassing the previous record of 3.330 residential lots offered in February 2017. More on this below.

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

Overall Statistics February 2018

Auctions Held in the UK

119

Total Lots Offered

4,068

Total Lots Sold

3,096

Percent Sold

76.1%

Total Realised

£565,106,404

National Auction Analysis

As mentioned above, the residential sector has certainly gone from strength to strength recently. Apart from a very slight fall in the monthly sale rate; down half a percent to 76.2%, there were gains made in every other measurable parameter. Notably, residential lots offered increased by 8% in February, to 3,437 lots, and by 5% in the rolling quarter - up from 6,627 lots to 6,982 lots. A similar pattern is evident in the residential sale volumes - up 7% in February, 5% in the last 3 months and by almost 3% in the past year.

In the commercial sector, whilst all 12 metrics are down on their corresponding periods last year it should be noted that historically the London commercial auctioneers account for approximately 45% of all commercial lots sold and 75% of all commercial amount raised. Our records show that their results in February were down only 9% in lots sold and by just 4% in amount raised, indicating that the figures below are reflective of the drop in commercial stock being offered by residential auctioneers.

Overall

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


February 2018

December 2017 to February 2018

March 2017 to February 2018

Lots Offered

4,068 (3,849)

5.7%

8,259 (8,025)

2.9%

33,257 (33,203)

0.2%

Lots Sold

3,096 (2,989)

3.6%

6,283 (6,180)

1.7%

25,422 (25,191)

0.9%

Percent Sold

76.1% (77.7%)

2.1%

76.1% (77.0%)

1.2%

76.4% (75.9%)

0.7%

Total Raised

£565M (£571M)

1.0%

£1,132M (£1,145M)

1.1%

£4,595M (£4,542M)

1.2%


Residential

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


February 2018

December 2017 to February 2018

March 2017 to February 2018

Lots Offered

3,437 (3,183)

8.0%

6,982 (6,627)

5.4%

27,800 (27,375)

1.6%

Lots Sold

2,620 (2,438)

7.5%

5,324 (5,046)

5.5%

21,157 (20,578)

2.8%

Percent Sold

76.2% (76.6%)

0.5%

76.3% (76.1%)

0.3%

76.1% (75.2%)

1.2%

Total Raised

£426M (£403M)

5.6%

£799M (£759M)

5.3%

£3,190M (£3,130M)

1.9%


Commercial

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


February 2018

December 2017 to February 2018

March 2017 to February 2018

Lots Offered

631 (666)

5.3%

1,277 (1,398)

8.7%

5,457 (5,828)

6.4%

Lots Sold

476 (551)

13.6%

959 (1,134)

15.4%

4,265 (4,613)

7.5%

Percent Sold

75.4% (82.7%)

8.8%

75.1% (81.1%)

7.4%

78.2% (79.2%)

1.3%

Total Raised

£139M (£167M)

16.8%

£332M (£386M)

13.8%

£1,405M (£1,412M)

0.5%


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

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

283 (247)

14.6%

222 (191)

16.2%

61 (56)

8.9%

Lots Sold

230 (189)

21.7%

180 (144)

25.0%

50 (45)

11.1%

Percent Sold

81.3% (76.5%)

6.3%

81.1% (75.4%)

7.6%

82.0% (80.4%)

2.0%

Total Raised

£40M (£33M)

19.5%

£24M (£21M)

12.5%

£16M (£12M)

31.5%


East-MidlandsEast Midlands

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

566 (564)

0.4%

463 (480)

3.5%

103 (84)

22.6%

Lots Sold

455 (434)

4.8%

374 (366)

2.2%

81 (68)

19.1%

Percent Sold

80.4% (77.0%)

4.4%

80.8% (76.3%)

5.9%

78.6% (81.0%)

3.0%

Total Raised

£70M (£60M)

16.1%

£44M (£37M)

18.7%

£25M (£23M)

11.8%


LondonLondon

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

746 (795)

6.2%

675 (723)

6.6%

71 (72)

1.4%

Lots Sold

559 (586)

4.6%

504 (525)

4.0%

55 (61)

9.8%

Percent Sold

74.9% (73.7%)

1.6%

74.7% (72.6%)

2.9%

77.5% (84.7%)

8.5%

Total Raised

£244M (£284M)

14.0%

£198M (£226M)

12.3%

£45M (£57M)

21.0%


North-EastNorth-East

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

817 (769)

6.2%

769 (716)

7.4%

48 (53)

9.4%

Lots Sold

627 (588)

6.6%

593 (549)

8.0%

34 (39)

12.8%

Percent Sold

76.7% (76.5%)

0.3%

77.1% (76.7%)

0.5%

70.8% (73.6%)

3.8%

Total Raised

£45M (£46M)

3.0%

£41M (£37M)

9.0%

£4M (£9M)

51.6%


North-WestNorth-West

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

1,499 (1,400)

7.1%

1,267 (1,119)

13.2%

232 (281)

17.4%

Lots Sold

1,114 (1,075)

3.6%

956 (848)

12.7%

158 (227)

30.4%

Percent Sold

74.3% (76.8%)

3.3%

75.5% (75.8%)

0.4%

68.1% (80.8%)

15.7%

Total Raised

£108M (£113M)

4.3%

£77M (£64M)

19.2%

£32M (£49M)

35.2%


North-West-Home-CountiesNorth-West Home Counties

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

415 (372)

11.6%

341 (294)

16.0%

74 (78)

5.1%

Lots Sold

312 (297)

5.1%

252 (224)

12.5%

60 (73)

17.8%

Percent Sold

75.2% (79.8%)

5.8%

73.9% (76.2%)

3.0%

81.1% (93.6%)

13.4%

Total Raised

£118M (£101M)

16.9%

£78M (£63M)

24.7%

£40M (£38M)

4.4%


Northern-IrelandNorthern Ireland

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

185 (212)

12.7%

167 (195)

14.4%

18 (17)

5.9%

Lots Sold

84 (106)

20.8%

78 (96)

18.8%

6 (10)

40.0%

Percent Sold

45.4% (50.0%)

9.2%

46.7% (49.2%)

5.1%

33.3% (58.8%)

43.4%

Total Raised

£7M (£7M)

10.5%

£6M (£7M)

3.4%

£0M (£1M)

68.3%


ScotlandScotland

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

169 (264)

36.0%

113 (181)

37.6%

56 (83)

32.5%

Lots Sold

104 (191)

45.5%

65 (122)

46.7%

39 (69)

43.5%

Percent Sold

61.5% (72.3%)

14.9%

57.5% (67.4%)

14.7%

69.6% (83.1%)

16.2%

Total Raised

£17M (£23M)

27.9%

£2M (£7M)

65.4%

£14M (£16M)

11.3%


South-East-Home-CountiesSouth-East Home Counties

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

1,065 (947)

12.5%

890 (760)

17.1%

175 (187)

6.4%

Lots Sold

824 (750)

9.9%

685 (601)

14.0%

139 (149)

6.7%

Percent Sold

77.4% (79.2%)

2.3%

77.0% (79.1%)

2.7%

79.4% (79.7%)

0.4%

Total Raised

£207M (£212M)

2.1%

£149M (£130M)

14.6%

£59M (£82M)

28.6%


South-WestSouth-West

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

406 (358)

13.4%

316 (272)

16.2%

90 (86)

4.7%

Lots Sold

318 (304)

4.6%

244 (228)

7.0%

74 (76)

2.6%

Percent Sold

78.3% (84.9%)

7.8%

77.2% (83.8%)

7.9%

82.2% (88.4%)

7.0%

Total Raised

£72M (£73M)

0.2%

£47M (£44M)

7.9%

£25M (£29M)

12.8%


WalesWales

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

492 (445)

10.6%

387 (344)

12.5%

105 (101)

4.0%

Lots Sold

361 (347)

4.0%

287 (274)

4.7%

74 (73)

1.4%

Percent Sold

73.4% (78.0%)

5.9%

74.2% (79.7%)

6.9%

70.5% (72.3%)

2.5%

Total Raised

£39M (£30M)

33.2%

£24M (£18M)

34.4%

£16M (£12M)

31.3%


West-MidlandsWest Midlands

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

903 (827)

9.2%

793 (665)

19.2%

110 (162)

32.1%

Lots Sold

726 (656)

10.7%

640 (526)

21.7%

86 (130)

33.8%

Percent Sold

80.4% (79.3%)

1.4%

80.7% (79.1%)

2.0%

78.2% (80.2%)

2.5%

Total Raised

£97M (£91M)

6.3%

£68M (£56M)

21.6%

£29M (£35M)

18.2%


Yorkshire-and-The-HumberYorkshire and The Humber

December 2017 to February 2018

Total

Residential

Commercial

Lots Offered

713 (825)

13.6%

579 (687)

15.7%

134 (138)

2.9%

Lots Sold

569 (657)

13.4%

466 (543)

14.2%

103 (114)

9.6%

Percent Sold

79.8% (79.6%)

0.3%

80.5% (79.0%)

1.9%

76.9% (82.6%)

6.9%

Total Raised

£67M (£71M)

5.3%

£41M (£49M)

17.4%

£27M (£22M)

21.9%


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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