Essential Auction News
Welcome to the August newsletter that looks back at auction activity in July and preceding periods. Only 107 auctions were held across the UK last month, 21 fewer than in July 2018 and 72 fewer than the record 189 held in 2008 and again in 2011.
With fewer auctions held it is perhaps no surprise to see lots offered and sold down on last year, both by 7% to 3,306 and 2,396 lots respectively. The total amount raised fell by 6% to £445.5M - just over £27M in monetary terms.
One positive to take from the results is that the sale rate has remained broadly steady in the low-to-mid seventies throughout the past year, demonstrating that competitively priced properties continue to attract buyers.
As ever I would welcome any comments or feedback you may have regarding the newsletter or indeed the wider market in general.
Please note the newsletter can also be viewed online. |
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Overall Statistics July 2019 |
| Auctions Held in the UK |
107 |
| Total Lots Offered |
3,306 |
| Total Lots Sold |
2,396 |
| Percent Sold |
72.5% |
| Total Realised |
£445,509,828 |
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National Auction Analysis
In the residential auction market, lots offered fell by 4% to 2,699 lots and lots sold fell by 5.7% to 1,934 lots. Total residential receipts decreased by £18M, to £290.3M (down 5.9%).
Commercial lots offered and sold fell by 18% and 13% respectively, whilst commercial receipts totalled £155.2M, down 5.7% on July 2018. The rolling quarterly and yearly figures also show double-digit falls in lots offered, lots sold and amounts raised, highlighting the challenging market conditions of recent times.
OverallN.B. Figures in brackets denote the comparative period last year
|
July 2019 |
May 2019 to July 2019 |
August 2018 to July 2019 |
| Lots Offered |
3,306 (3,555) |
▼ 7.0% |
8,239 (9,211) |
▼ 10.6% |
29,903 (32,810) |
▼ 8.9% |
| Lots Sold |
2,396 (2,578) |
▼ 7.1% |
6,055 (6,758) |
▼ 10.4% |
22,085 (24,748) |
▼ 10.8% |
| Percent Sold |
72.5% (72.5%) |
▼ 0.0% |
73.5% (73.4%) |
▲ 0.1% |
73.9% (75.4%) |
▼ 2.0% |
| Total Raised |
£445.5M (£473.1M) |
▼ 5.8% |
£1,062.2M (£1,220.3M) |
▼ 13.0% |
£3,756.6M (£4,413.2M) |
▼ 14.9% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
July 2019 |
May 2019 to July 2019 |
August 2018 to July 2019 |
| Lots Offered |
2,699 (2,812) |
▼ 4.0% |
6,865 (7,510) |
▼ 8.6% |
25,398 (27,393) |
▼ 7.3% |
| Lots Sold |
1,934 (2,050) |
▼ 5.7% |
5,045 (5,495) |
▼ 8.2% |
18,714 (20,573) |
▼ 9.0% |
| Percent Sold |
71.7% (72.9%) |
▼ 1.6% |
73.5% (73.2%) |
▲ 0.4% |
73.7% (75.1%) |
▼ 1.9% |
| Total Raised |
£290.3M (£308.7M) |
▼ 5.9% |
£742.3M (£855.8M) |
▼ 13.3% |
£2,708.7M (£3,126.2M) |
▼ 13.4% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
July 2019 |
May 2019 to July 2019 |
August 2018 to July 2019 |
| Lots Offered |
607 (743) |
▼ 18.3% |
1,374 (1,701) |
▼ 19.2% |
4,505 (5,417) |
▼ 16.8% |
| Lots Sold |
462 (528) |
▼ 12.5% |
1,010 (1,263) |
▼ 20.0% |
3,371 (4,175) |
▼ 19.3% |
| Percent Sold |
76.1% (71.1%) |
▲ 7.0% |
73.5% (74.3%) |
▼ 1.1% |
74.8% (77.1%) |
▼ 3.0% |
| Total Raised |
£155.2M (£164.5M) |
▼ 5.7% |
£319.9M (£364.5M) |
▼ 12.2% |
£1,047.9M (£1,287.0M) |
▼ 18.6% |
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 Anglia
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
382 (312) |
▲ 22.4% |
273 (251) |
▲ 8.8% |
109 (61) |
▲ 78.7% |
| Lots Sold |
268 (241) |
▲ 11.2% |
179 (192) |
▼ 6.8% |
89 (49) |
▲ 81.6% |
| Percent Sold |
70.2% (77.2%) |
▼ 9.1% |
65.6% (76.5%) |
▼ 14.2% |
81.7% (80.3%) |
▲ 1.7% |
| Total Raised |
£40.8M (£41.1M) |
▼ 0.6% |
£29.3M (£31.4M) |
▼ 6.7% |
£11.6M (£9.7M) |
▲ 19.2% |
 East Midlands
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
572 (692) |
▼ 17.3% |
475 (588) |
▼ 19.2% |
97 (104) |
▼ 6.7% |
| Lots Sold |
437 (525) |
▼ 16.8% |
370 (446) |
▼ 17.0% |
67 (79) |
▼ 15.2% |
| Percent Sold |
76.4% (75.9%) |
▲ 0.7% |
77.9% (75.9%) |
▲ 2.6% |
69.1% (76.0%) |
▼ 9.1% |
| Total Raised |
£65.7M (£79.6M) |
▼ 17.5% |
£48.3M (£58.8M) |
▼ 17.8% |
£17.4M (£20.8M) |
▼ 16.7% |
 London
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
605 (631) |
▼ 4.1% |
546 (567) |
▼ 3.7% |
59 (64) |
▼ 7.8% |
| Lots Sold |
444 (456) |
▼ 2.6% |
399 (399) |
▼ 0.0% |
45 (57) |
▼ 21.1% |
| Percent Sold |
73.4% (72.3%) |
▲ 1.5% |
73.1% (70.4%) |
▲ 3.8% |
76.3% (89.1%) |
▼ 14.4% |
| Total Raised |
£208.0M (£229.6M) |
▼ 9.4% |
£164.8M (£185.9M) |
▼ 11.4% |
£43.3M (£43.7M) |
▼ 1.1% |
 North-East
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
783 (788) |
▼ 0.6% |
714 (728) |
▼ 1.9% |
69 (60) |
▲ 15.0% |
| Lots Sold |
560 (570) |
▼ 1.8% |
516 (532) |
▼ 3.0% |
44 (38) |
▲ 15.8% |
| Percent Sold |
71.5% (72.3%) |
▼ 1.1% |
72.3% (73.1%) |
▼ 1.1% |
63.8% (63.3%) |
▲ 0.8% |
| Total Raised |
£50.4M (£45.2M) |
▲ 11.6% |
£33.0M (£36.2M) |
▼ 8.8% |
£17.4M (£9.0M) |
▲ 93.3% |
 North-West
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
1,266 (1,400) |
▼ 9.6% |
1,052 (1,108) |
▼ 5.1% |
214 (292) |
▼ 26.7% |
| Lots Sold |
919 (1,030) |
▼ 10.8% |
778 (808) |
▼ 3.7% |
141 (222) |
▼ 36.5% |
| Percent Sold |
72.6% (73.6%) |
▼ 1.4% |
74.0% (72.9%) |
▲ 1.5% |
65.9% (76.0%) |
▼ 13.3% |
| Total Raised |
£96.5M (£119.4M) |
▼ 19.2% |
£70.7M (£79.6M) |
▼ 11.2% |
£25.8M (£39.8M) |
▼ 35.1% |
 North-West Home Counties
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
548 (425) |
▲ 28.9% |
483 (328) |
▲ 47.3% |
65 (97) |
▼ 33.0% |
| Lots Sold |
420 (305) |
▲ 37.7% |
367 (236) |
▲ 55.5% |
53 (69) |
▼ 23.2% |
| Percent Sold |
76.6% (71.8%) |
▲ 6.7% |
76.0% (72.0%) |
▲ 5.6% |
81.5% (71.1%) |
▲ 14.6% |
| Total Raised |
£105.5M (£88.8M) |
▲ 18.8% |
£71.9M (£53.0M) |
▲ 35.6% |
£33.7M (£35.8M) |
▼ 6.0% |
 Northern Ireland
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
101 (195) |
▼ 48.2% |
78 (181) |
▼ 56.9% |
23 (14) |
▲ 64.3% |
| Lots Sold |
51 (78) |
▼ 34.6% |
45 (74) |
▼ 39.2% |
6 (4) |
▲ 50.0% |
| Percent Sold |
50.5% (40.0%) |
▲ 26.3% |
57.7% (40.9%) |
▲ 41.1% |
26.1% (28.6%) |
▼ 8.7% |
| Total Raised |
£4.0M (£6.8M) |
▼ 40.1% |
£3.5M (£6.1M) |
▼ 42.8% |
£0.5M (£0.6M) |
▼ 13.4% |
 Scotland
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
196 (246) |
▼ 20.3% |
137 (172) |
▼ 20.3% |
59 (74) |
▼ 20.3% |
| Lots Sold |
130 (153) |
▼ 15.0% |
90 (106) |
▼ 15.1% |
40 (47) |
▼ 14.9% |
| Percent Sold |
66.3% (62.2%) |
▲ 6.6% |
65.7% (61.6%) |
▲ 6.7% |
67.8% (63.5%) |
▲ 6.8% |
| Total Raised |
£15.3M (£17.4M) |
▼ 11.7% |
£4.9M (£6.2M) |
▼ 21.2% |
£10.4M (£11.1M) |
▼ 6.4% |
 South-East Home Counties
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
1,106 (1,342) |
▼ 17.6% |
929 (1,100) |
▼ 15.5% |
177 (242) |
▼ 26.9% |
| Lots Sold |
824 (972) |
▼ 15.2% |
686 (794) |
▼ 13.6% |
138 (178) |
▼ 22.5% |
| Percent Sold |
74.5% (72.4%) |
▲ 2.9% |
73.8% (72.2%) |
▲ 2.2% |
78.0% (73.6%) |
▲ 6.0% |
| Total Raised |
£181.2M (£243.4M) |
▼ 25.6% |
£124.2M (£166.8M) |
▼ 25.5% |
£56.9M (£76.7M) |
▼ 25.8% |
 South-West
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
552 (685) |
▼ 19.4% |
427 (463) |
▼ 7.8% |
125 (222) |
▼ 43.7% |
| Lots Sold |
418 (517) |
▼ 19.1% |
314 (348) |
▼ 9.8% |
104 (169) |
▼ 38.5% |
| Percent Sold |
75.7% (75.5%) |
▲ 0.3% |
73.5% (75.2%) |
▼ 2.3% |
83.2% (76.1%) |
▲ 9.3% |
| Total Raised |
£78.1M (£104.3M) |
▼ 25.1% |
£52.3M (£66.2M) |
▼ 20.9% |
£25.7M (£38.1M) |
▼ 32.4% |
 Wales
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
505 (628) |
▼ 19.6% |
378 (475) |
▼ 20.4% |
127 (153) |
▼ 17.0% |
| Lots Sold |
353 (464) |
▼ 23.9% |
268 (347) |
▼ 22.8% |
85 (117) |
▼ 27.4% |
| Percent Sold |
69.9% (73.9%) |
▼ 5.4% |
70.9% (73.1%) |
▼ 3.0% |
66.9% (76.5%) |
▼ 12.5% |
| Total Raised |
£40.4M (£49.2M) |
▼ 17.8% |
£26.5M (£30.7M) |
▼ 13.7% |
£13.9M (£18.5M) |
▼ 24.7% |
 West Midlands
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
933 (1,016) |
▼ 8.2% |
800 (832) |
▼ 3.8% |
133 (184) |
▼ 27.7% |
| Lots Sold |
695 (789) |
▼ 11.9% |
585 (655) |
▼ 10.7% |
110 (134) |
▼ 17.9% |
| Percent Sold |
74.5% (77.7%) |
▼ 4.1% |
73.1% (78.7%) |
▼ 7.1% |
82.7% (72.8%) |
▲ 13.6% |
| Total Raised |
£109.5M (£117.0M) |
▼ 6.4% |
£71.5M (£80.9M) |
▼ 11.6% |
£38.0M (£36.1M) |
▲ 5.3% |
 Yorkshire and The Humber
| May 2019 to July 2019 |
Total |
Residential |
Commercial |
| Lots Offered |
690 (851) |
▼ 18.9% |
573 (717) |
▼ 20.1% |
117 (134) |
▼ 12.7% |
| Lots Sold |
536 (658) |
▼ 18.5% |
448 (558) |
▼ 19.7% |
88 (100) |
▼ 12.0% |
| Percent Sold |
77.7% (77.3%) |
▲ 0.5% |
78.2% (77.8%) |
▲ 0.5% |
75.2% (74.6%) |
▲ 0.8% |
| Total Raised |
£66.6M (£78.6M) |
▼ 15.2% |
£41.4M (£54.1M) |
▼ 23.5% |
£25.2M (£24.5M) |
▲ 2.9% |
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
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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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