Industry News

EIG August 2017 Newsletter - Essential Auction News

Publish Date: 09 August 2017

By Beth Fox

Welcome to the August newsletter:

Looking back at auction activity in July and preceding periods

There were 144 auctions held across the UK last month - 24 fewer than last year, yet the numbers below indicate a steady if not positive marketplace.

Notwithstanding the small drop in lots offered - down 3% to 3,650, there were gains made in lots sold and total raised (up 0.5% and 7.3% respectively) whilst the sale rate jumped 3 percentage points to 75.7%. The rolling quarterly figures paint a similar picture, albeit with smaller margins, but the rolling yearly figures show small falls in each metric and reflect the challenging economic and political backdrop over the past 12-18 months.

Overall Statistics July 2017

Auctions Held in the UK             144
Total Lots Offered                 3,657
Total Lots Sold                         2,774
Percent Sold                          75.9%
Total Realised           £526,758,443

National Auction Analysis

Figures show a marginal decrease in the number of residential lots offered at auction last month - down 0.8% to 2,949 lots, yet encouragingly sale volumes rose 4% to 2,226 lots and residential revenues totalled £336M, up £10M on July 2016. The rolling quarterly figures also make for positive reading, with gains evident in each of the 4 metrics.

Commercial lots offered and sold were both down last month, by 12.7% and 11.5% respectively. Yet despite these falls the sector saw revenues increase by £26M - up almost 16% to £190M, indicating an increase in higher-value lot-sizes being sold at auction.

A word from the editor: I welcome any feedback or questions you may have about our newsletters or the wider market in general.

Kind regards, David Sandeman

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