Essential Auction News
Welcome to the December newsletter that looks back at auction activity in November and preceding periods
As 2018 draws to a close it is a familiar story below, with every one of the 36 measurable metrics down on their comparative period last year. 1,654 lots were offered and 1,146 lots were sold last month, down 12% and 14% respectively, whilst total auction revenues shrunk by 17%, from £196.4M to £162.7M.
Overall Statistics - November 2018
Auctions Held in the UK 83
Total Lots Offered 1,654
Total Lots Sold 1,146
Percent Sold 69.3%
Total Realised £162,662,448
National Auction Analysis
As can be seen below, double-digit falls are prevalent across both sectors of the industry. Residential lots offered was down 11% last month, to 1,476 lots, whilst revenues dropped 16% to £147.1M. Commercial lots offered fell by almost 18% to 178 lots, with revenues decreasing by over 27% to £15.5M. The rolling yearly figures highlight the market's struggles over the past year. There were almost 1,300 fewer residential sales in the last 12 months when compared with the previous year (down 6.2%), whilst commercial sales dropped by over 450 lots in the same period (down 10.3%).
View the full newsletter results
A word from the Editor:
May I take this opportunity to wish you all a peaceful holiday and a prosperous new year.
As always I appreciate any feedback or suggestions you might have on our services and newsletters.
Kind regards,
David Sandeman - Managing Director, EIG
davids@eigroup.co.uk
Receive the latest Essential Auction News straight to your inbox every month
Sign up here
Essential Information Group - News and Information
Keep up to date with our latest news, case studies and what's going on in the property auction industry on our blog.
Buying at auction
05/02/2025
The Leasehold and Freehold Reform Act 2024 introduces significant changes to leasehold property laws in the UK
Abolishing the two-year ownership requirement for leaseholders wishing to extend their lease or purchase the freehold, so how will this affect auctions?
Buying at auction
16/01/2025
How to Check If a Property Has Been to Auction Before
1 in 4 properties has been to auction before, use our website to check the auction history of a property.
Buying at auction
09/01/2025
Become a Property Auction Expert in 2025
10 steps to help you become a property auction expert in the UK