Welcome to the May newsletter that looks back at auction activity in April and preceding periods
11 property auctions were held across the UK last month, 28 fewer than in April 2016, so it is perhaps unsurprising to see falls in both lots offered and lots sold - down 9.5% and 8.6% respectively. The amount raised also decreased, from £242M in April 2016 to £215M in April 2017 - an 11.3% drop.
The decline in activity reflects what has been seen in the wider estate agency and lettings market, and with the current uncertainty surrounding the general election and Brexit, may continue in the immediate future.
Auctions Held in the UK 111
Total Lots Offered 2,227
Total Lots Sold 1,647
Percent Sold 74%
Total Realised £214,755,965
National Auction Analysis
The residential auction market saw falls of around 10% in lots offered and lots sold, with similar double-digit falls also evident in the rolling quarterly figures. The commercial auction market was relatively unchanged last month, with 7 fewer lots offered compared to April 2016 (333 lots to 326 lots) and just 1 less sale.
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
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
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.