EIG February 2017 Newsletter - Essential Auction News
Publish Date: 14 February 2017
By Beth Fox
Further reading
EIG support Network Auctions National Partner Conference 2017
Welcome to the February newsletter that looks back at auction activity in January and preceding periods.
As is usually the case at the turn of the year, January was a very quiet month with only 408 lots offered in 15 auctions held across the UK. Whilst this was down 17% on last year, one cannot draw any meaningful conclusions due to the smaller-than-average sample set. Instead it will be all eyes on next month's publication to see if the industry can pick up where it left off in December when auction records were sent tumbling.
Overall Statistics January 2017
Auctions Held in the UK 15
Total Lots Offered 408
Total Lots Sold 315
Percent Sold 77.2%
Total Realised £31,006,177
National Auction Analysis
Only 15 out of the 408 lots offered last month were commercial lots (12 sold raising £1m), and none of these were offered by any of the London commercial auctioneers. The rolling quarterly and rolling yearly statistics show commercial sales were down 7.3% and 8.6% respectively, however the amount raised grew by 9% in both periods indicating that larger lot sizes have been on the rise.
Of the 393 residential lots that went under the hammer, 303 lots sold (77%) with a total value of £30m. The rolling quarterly and yearly figures remain largely positive, with lots offered up 4% in both periods and small increases in lots sold.
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
Sign up to the mailing list service on the newsletter page to receive the latest Essential Auction News straight to your inbox every month.
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
20/03/2025
Why the Property Auction Market is Booming Due to Stamp Duty Changes
The UK property auction market is experiencing a surge in activity in March 2025, driven primarily by impending changes to stamp duty regulations
Buying at auction
27/02/2025
Who Can Benefit from Buying a Property at a UK Property Auction?
Buying a property at a UK property auction can be advantageous for various buyers depending on their financial situation and goals. Auctions often offer unique opportunities, discounted properties, and a fast purchase process. Here’s who can benefit the most.
Buying at auction
24/02/2025
Bridging Loans Explained: A Guide for Property Auction Buyers
A bridging loan is a short-term financing solution, typically lasting up to 12 months. It provides immediate funds to bridge the gap between purchasing a property and securing long-term financing.