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EIG News April 2018

 

Essential Auction News

Welcome to the April newsletter that looks back at auction activity in March and preceding periods. For the second successive month the industry has enjoyed considerable growth in terms of volumes, with overall lots offered up 11.5% to 3,088 lots and lots sold up 10.6% to 2,283 lots.

Our records show that this is highest number of lots put under the hammer during March since 2008 (3,263 lots). A decade ago the economy was in the midst of a credit crunch and the auction market saw increasing numbers of repossessions and motivated vendors but fewer buyers; indeed, the sale rate was a lowly 62% compared to the far more sustainable 74% we see now.

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

Overall Statistics March 2018

Auctions Held in the UK

116

Total Lots Offered

3,088

Total Lots Sold

2,283

Percent Sold

73.9%

Total Realised

£416,486,724

National Auction Analysis

The recent gains have also had a positive impact on the quarterly and yearly results. Over 500 more lots were offered in Q1 2018 than in Q1 2017 - a gain of 7.2%, whilst the rolling yearly figures show a 1.2% increase over the last 12 months to 33,495 lots.

The residential sector has certainly been the main contributor to these gains. Residential lots offered and sold were both up over 12% in March, to 2,511 lots and 1,847 lots respectively, whilst residential receipts jumped almost 15% to £301M. This is the highest number of residential sales ever recorded in March, surpassing the previous high of 1,846 lots sold in March 2007.

All the major London commercial auctioneers held an auction during March, so it is pleasing to see volumes up on last year - lots offered by 6.7% to 577 lots and lots sold by 4.3% to 436 lots. The amount raised did contract slightly though; down 17% to £116M, suggesting an increase of smaller-sized lots going under the hammer.

Overall

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


March 2018

January 2018 to March 2018

April 2017 to March 2018

Lots Offered

3,088 (2,769)

11.5%

7,586 (7,074)

7.2%

33,495 (33,091)

1.2%

Lots Sold

2,283 (2,064)

10.6%

5,708 (5,444)

4.8%

25,540 (25,109)

1.7%

Percent Sold

73.9% (74.5%)

0.8%

75.2% (77.0%)

2.3%

76.3% (75.9%)

0.5%

Total Raised

£416M (£402M)

3.6%

£1,012M (£1,026M)

1.4%

£4,562M (£4,489M)

1.6%


Residential

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


March 2018

January 2018 to March 2018

April 2017 to March 2018

Lots Offered

2,511 (2,228)

12.7%

6,357 (5,845)

8.8%

28,005 (27,218)

2.9%

Lots Sold

1,847 (1,646)

12.2%

4,777 (4,451)

7.3%

21,273 (20,478)

3.9%

Percent Sold

73.6% (73.9%)

0.4%

75.1% (76.2%)

1.4%

76.0% (75.2%)

1.1%

Total Raised

£301M (£262M)

14.6%

£755M (£713M)

5.9%

£3,219M (£3,127M)

2.9%


Commercial

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


March 2018

January 2018 to March 2018

April 2017 to March 2018

Lots Offered

577 (541)

6.7%

1,229 (1,229)

0.0%

5,490 (5,873)

6.5%

Lots Sold

436 (418)

4.3%

931 (993)

6.2%

4,267 (4,631)

7.9%

Percent Sold

75.6% (77.3%)

2.2%

75.8% (80.8%)

6.2%

77.7% (78.9%)

1.5%

Total Raised

£116M (£140M)

17.1%

£257M (£313M)

18.0%

£1,343M (£1,362M)

1.4%


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 2018 to March 2018

Total

Residential

Commercial

Lots Offered

224 (195)

14.9%

176 (146)

20.5%

48 (49)

2.0%

Lots Sold

173 (160)

8.1%

138 (120)

15.0%

35 (40)

12.5%

Percent Sold

77.2% (82.1%)

6.0%

78.4% (82.2%)

4.6%

72.9% (81.6%)

10.7%

Total Raised

£31M (£30M)

4.1%

£21M (£19M)

9.6%

£10M (£11M)

5.6%


East-MidlandsEast Midlands

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

484 (493)

1.8%

397 (411)

3.4%

87 (82)

6.1%

Lots Sold

367 (394)

6.9%

301 (333)

9.6%

66 (61)

8.2%

Percent Sold

75.8% (79.9%)

5.1%

75.8% (81.0%)

6.4%

75.9% (74.4%)

2.0%

Total Raised

£54M (£59M)

9.1%

£35M (£35M)

0.8%

£19M (£24M)

21.2%


LondonLondon

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

647 (668)

3.1%

584 (602)

3.0%

63 (66)

4.5%

Lots Sold

472 (504)

6.3%

427 (447)

4.5%

45 (57)

21.1%

Percent Sold

73.0% (75.4%)

3.2%

73.1% (74.3%)

1.6%

71.4% (86.4%)

17.4%

Total Raised

£230M (£238M)

3.5%

£193M (£207M)

6.7%

£37M (£32M)

17.3%


North-EastNorth-East

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

706 (690)

2.3%

665 (639)

4.1%

41 (51)

19.6%

Lots Sold

541 (534)

1.3%

511 (496)

3.0%

30 (38)

21.1%

Percent Sold

76.6% (77.4%)

1.0%

76.8% (77.6%)

1.0%

73.2% (74.5%)

1.7%

Total Raised

£38M (£42M)

9.5%

£34M (£33M)

1.7%

£4M (£8M)

54.9%


North-WestNorth-West

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

1,216 (1,118)

8.8%

992 (922)

7.6%

224 (196)

14.3%

Lots Sold

929 (836)

11.1%

761 (685)

11.1%

168 (151)

11.3%

Percent Sold

76.4% (74.8%)

2.1%

76.7% (74.3%)

3.2%

75.0% (77.0%)

2.6%

Total Raised

£90M (£91M)

1.6%

£63M (£55M)

15.4%

£27M (£37M)

26.8%


North-West-Home-CountiesNorth-West Home Counties

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

362 (296)

22.3%

300 (233)

28.8%

62 (63)

1.6%

Lots Sold

253 (234)

8.1%

208 (179)

16.2%

45 (55)

18.2%

Percent Sold

69.9% (79.1%)

11.6%

69.3% (76.8%)

9.8%

72.6% (87.3%)

16.8%

Total Raised

£94M (£89M)

6.2%

£71M (£57M)

24.6%

£23M (£32M)

26.8%


Northern-IrelandNorthern Ireland

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

254 (234)

8.5%

218 (196)

11.2%

36 (38)

5.3%

Lots Sold

131 (120)

9.2%

109 (95)

14.7%

22 (25)

12.0%

Percent Sold

51.6% (51.3%)

0.6%

50.0% (48.5%)

3.1%

61.1% (65.8%)

7.1%

Total Raised

£13M (£9M)

41.7%

£11M (£7M)

51.0%

£3M (£2M)

11.8%


ScotlandScotland

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

221 (272)

18.8%

153 (172)

11.0%

68 (100)

32.0%

Lots Sold

142 (198)

28.3%

90 (108)

16.7%

52 (90)

42.2%

Percent Sold

64.3% (72.8%)

11.7%

58.8% (62.8%)

6.4%

76.5% (90.0%)

15.0%

Total Raised

£18M (£28M)

35.9%

£6M (£7M)

4.0%

£11M (£21M)

45.8%


South-East-Home-CountiesSouth-East Home Counties

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

1,014 (891)

13.8%

839 (741)

13.2%

175 (150)

16.7%

Lots Sold

772 (716)

7.8%

636 (592)

7.4%

136 (124)

9.7%

Percent Sold

76.1% (80.4%)

5.3%

75.8% (79.9%)

5.1%

77.7% (82.7%)

6.0%

Total Raised

£182M (£195M)

6.7%

£134M (£136M)

1.3%

£48M (£59M)

18.9%


South-WestSouth-West

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

449 (383)

17.2%

318 (272)

16.9%

131 (111)

18.0%

Lots Sold

365 (300)

21.7%

251 (206)

21.8%

114 (94)

21.3%

Percent Sold

81.3% (78.3%)

3.8%

78.9% (75.7%)

4.2%

87.0% (84.7%)

2.7%

Total Raised

£67M (£73M)

8.6%

£48M (£42M)

14.2%

£19M (£32M)

38.7%


WalesWales

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

405 (437)

7.3%

327 (346)

5.5%

78 (91)

14.3%

Lots Sold

292 (327)

10.7%

243 (260)

6.5%

49 (67)

26.9%

Percent Sold

72.1% (74.8%)

3.6%

74.3% (75.1%)

1.1%

62.8% (73.6%)

14.7%

Total Raised

£27M (£28M)

3.6%

£19M (£20M)

2.7%

£8M (£8M)

5.8%


West-MidlandsWest Midlands

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

965 (698)

38.3%

858 (580)

47.9%

107 (118)

9.3%

Lots Sold

749 (559)

34.0%

668 (461)

44.9%

81 (98)

17.3%

Percent Sold

77.6% (80.1%)

3.1%

77.9% (79.5%)

2.0%

75.7% (83.1%)

8.9%

Total Raised

£110M (£86M)

28.1%

£82M (£54M)

52.1%

£28M (£32M)

11.9%


Yorkshire-and-The-HumberYorkshire and The Humber

January 2018 to March 2018

Total

Residential

Commercial

Lots Offered

639 (699)

8.6%

530 (585)

9.4%

109 (114)

4.4%

Lots Sold

522 (562)

7.1%

434 (469)

7.5%

88 (93)

5.4%

Percent Sold

81.7% (80.4%)

1.6%

81.9% (80.2%)

2.1%

80.7% (81.6%)

1.1%

Total Raised

£57M (£57M)

0.1%

£38M (£42M)

9.6%

£19M (£15M)

27.0%


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
davids@eigroup.co.uk

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