Essential Auction News
Welcome to the December newsletter that looks back at auction activity in November, the previous quarter, and the previous year, and compares it with the same periods over the past 12 months. November was a positive month in terms of the overall and the residential sector. The vast majority of sales were residential lots (none of the major commercial auctioneers had an auction in November).
Looking at the 'Overall' and 'Residential' figures below, 17 out of the 24 measurable metrics were in positive territory. Only the percent sold was down, and in November we saw this drop by 15%. Doubtless the current fiscal situation took the heat out of the market and only well priced lots were selling. Lots where the vendor was not in tune with the current situation failed to meet the reserve.
The commercial sector with the absence of any major commercial sales was quiet, and this was to be expected. As regards the regions we see quite a variance across the UK - West Midlands, Yorkshire & The Humber, East Anglia and the South-West performed strongly over the last 3 months, other regions less so.
At the time of writing, we have just a few more auctions left this month, and the early signs are of a busy December. May I take this opportunity of wishing you all a peaceful and restful festive break, and a prosperous new year.
Please note the newsletter can also be viewed online. Kind regards David Sandeman
davids@eigroup.co.uk P.S. Here at the Essential Information Group we maintain a database of virtually every property coming up for sale at auction as well as almost 900,000 lots that have been to auction in the past. It is fully searchable and allows you to identify properties coming up for sale that you might be interested in, and to see what similar properties have sold for in the past. If you would like a trial of our website, please register here. |
|
Overall Statistics November 2022 |
| Total Lots Offered |
2,571 |
| Total Lots Sold |
1,591 |
| Percent Sold |
61.9% |
| Total Realised |
£381,119,300 |
|
|
National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
November 2022 |
September 2022 to November 2022 |
December 2021 to November 2022 |
| Lots Offered |
2,571 (1,748) |
▲ 47.1% |
9,078 (7,588) |
▲ 19.6% |
30,403 (28,476) |
▲ 6.8% |
| Lots Sold |
1,591 (1,272) |
▲ 25.1% |
6,186 (5,788) |
▲ 6.9% |
22,295 (22,058) |
▲ 1.1% |
| Percent Sold |
61.9% (72.8%) |
▼ 15.0% |
68.1% (76.3%) |
▼ 10.7% |
73.3% (77.5%) |
▼ 5.4% |
| Total Raised |
£381.1M (£331.9M) |
▲ 14.8% |
£1,310.5M (£1,269.1M) |
▲ 3.3% |
£4,792.1M (£4,568.2M) |
▲ 4.9% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
November 2022 |
September 2022 to November 2022 |
December 2021 to November 2022 |
| Lots Offered |
2,198 (1,400) |
▲ 57.0% |
7,873 (6,392) |
▲ 23.2% |
25,946 (24,732) |
▲ 4.9% |
| Lots Sold |
1,326 (996) |
▲ 33.1% |
5,331 (4,875) |
▲ 9.4% |
19,132 (19,164) |
▼ 0.2% |
| Percent Sold |
60.3% (71.1%) |
▼ 15.2% |
67.7% (76.3%) |
▼ 11.3% |
73.7% (77.5%) |
▼ 4.9% |
| Total Raised |
£254.7M (£214.6M) |
▲ 18.7% |
£954.6M (£920.4M) |
▲ 3.7% |
£3,599.9M (£3,465.4M) |
▲ 3.9% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
November 2022 |
September 2022 to November 2022 |
December 2021 to November 2022 |
| Lots Offered |
373 (348) |
▲ 7.2% |
1,205 (1,196) |
▲ 0.8% |
4,457 (3,744) |
▲ 19.0% |
| Lots Sold |
265 (276) |
▼ 4.0% |
855 (913) |
▼ 6.4% |
3,163 (2,894) |
▲ 9.3% |
| Percent Sold |
71.0% (79.3%) |
▼ 10.5% |
71.0% (76.3%) |
▼ 6.9% |
71.0% (77.3%) |
▼ 8.2% |
| Total Raised |
£126.4M (£117.3M) |
▲ 7.7% |
£356.0M (£348.7M) |
▲ 2.1% |
£1,192.2M (£1,102.7M) |
▲ 8.1% |
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
(Includes Cambridgeshire, Norfolk, Suffolk)
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
356 (269) |
▲ 32.3% |
299 (217) |
▲ 37.8% |
57 (52) |
▲ 9.6% |
| Lots Sold |
254 (230) |
▲ 10.4% |
213 (183) |
▲ 16.4% |
41 (47) |
▼ 12.8% |
| Percent Sold |
71.3% (85.5%) |
▼ 16.6% |
71.2% (84.3%) |
▼ 15.5% |
71.9% (90.4%) |
▼ 20.5% |
| Total Raised |
£55.0M (£48.7M) |
▲ 12.9% |
£39.5M (£34.5M) |
▲ 14.4% |
£15.5M (£14.2M) |
▲ 9.1% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
690 (565) |
▲ 22.1% |
614 (487) |
▲ 26.1% |
76 (78) |
▼ 2.6% |
| Lots Sold |
467 (443) |
▲ 5.4% |
406 (378) |
▲ 7.4% |
61 (65) |
▼ 6.2% |
| Percent Sold |
67.7% (78.4%) |
▼ 13.6% |
66.1% (77.6%) |
▼ 14.8% |
80.3% (83.3%) |
▼ 3.6% |
| Total Raised |
£77.2M (£84.4M) |
▼ 8.4% |
£58.6M (£59.0M) |
▼ 0.7% |
£18.7M (£25.4M) |
▼ 26.4% |
 London
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
758 (691) |
▲ 9.7% |
664 (632) |
▲ 5.1% |
94 (59) |
▲ 59.3% |
| Lots Sold |
520 (532) |
▼ 2.3% |
443 (483) |
▼ 8.3% |
77 (49) |
▲ 57.1% |
| Percent Sold |
68.6% (77.0%) |
▼ 10.9% |
66.7% (76.4%) |
▼ 12.7% |
81.9% (83.1%) |
▼ 1.4% |
| Total Raised |
£265.2M (£242.7M) |
▲ 9.3% |
£195.3M (£203.4M) |
▼ 4.0% |
£69.9M (£39.3M) |
▲ 78.0% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
518 (509) |
▲ 1.8% |
477 (461) |
▲ 3.5% |
41 (48) |
▼ 14.6% |
| Lots Sold |
347 (368) |
▼ 5.7% |
315 (330) |
▼ 4.5% |
32 (38) |
▼ 15.8% |
| Percent Sold |
67.0% (72.3%) |
▼ 7.3% |
66.0% (71.6%) |
▼ 7.8% |
78.0% (79.2%) |
▼ 1.5% |
| Total Raised |
£33.6M (£39.4M) |
▼ 14.8% |
£20.4M (£23.5M) |
▼ 13.1% |
£13.2M (£15.9M) |
▼ 17.3% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
1,460 (1,220) |
▲ 19.7% |
1,306 (1,083) |
▲ 20.6% |
154 (137) |
▲ 12.4% |
| Lots Sold |
981 (919) |
▲ 6.7% |
881 (811) |
▲ 8.6% |
100 (108) |
▼ 7.4% |
| Percent Sold |
67.2% (75.3%) |
▼ 10.8% |
67.5% (74.9%) |
▼ 9.9% |
64.9% (78.8%) |
▼ 17.6% |
| Total Raised |
£117.3M (£125.4M) |
▼ 6.5% |
£88.7M (£96.8M) |
▼ 8.3% |
£28.6M (£28.6M) |
▼ 0.1% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
594 (424) |
▲ 40.1% |
518 (359) |
▲ 44.3% |
76 (65) |
▲ 16.9% |
| Lots Sold |
409 (344) |
▲ 18.9% |
358 (291) |
▲ 23.0% |
51 (53) |
▼ 3.8% |
| Percent Sold |
68.9% (81.1%) |
▼ 15.0% |
69.1% (81.1%) |
▼ 14.8% |
67.1% (81.5%) |
▼ 17.7% |
| Total Raised |
£109.6M (£103.7M) |
▲ 5.7% |
£79.7M (£80.4M) |
▼ 0.9% |
£29.9M (£23.3M) |
▲ 28.3% |
 Northern Ireland
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
46 (50) |
▼ 8.0% |
33 (43) |
▼ 23.3% |
13 (7) |
▲ 85.7% |
| Lots Sold |
14 (15) |
▼ 6.7% |
9 (15) |
▼ 40.0% |
5 (0) |
▲ n/a |
| Percent Sold |
30.4% (30.0%) |
▲ 1.3% |
27.3% (34.9%) |
▼ 21.8% |
38.5% (0.0%) |
▲ n/a |
| Total Raised |
£4.4M (£1.5M) |
▲ 193.5% |
£2.4M (£1.5M) |
▲ 60.1% |
£2.0M (£0.0M) |
▲ n/a |
 Scotland
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
264 (254) |
▲ 3.9% |
179 (157) |
▲ 14.0% |
85 (97) |
▼ 12.4% |
| Lots Sold |
115 (104) |
▲ 10.6% |
81 (55) |
▲ 47.3% |
34 (49) |
▼ 30.6% |
| Percent Sold |
43.6% (40.9%) |
▲ 6.6% |
45.3% (35.0%) |
▲ 29.4% |
40.0% (50.5%) |
▼ 20.8% |
| Total Raised |
£12.7M (£16.6M) |
▼ 23.2% |
£4.7M (£2.7M) |
▲ 75.4% |
£8.0M (£13.9M) |
▼ 42.3% |
 South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
1,325 (1,152) |
▲ 15.0% |
1,147 (934) |
▲ 22.8% |
178 (218) |
▼ 18.3% |
| Lots Sold |
873 (879) |
▼ 0.7% |
744 (730) |
▲ 1.9% |
129 (149) |
▼ 13.4% |
| Percent Sold |
65.9% (76.3%) |
▼ 13.6% |
64.9% (78.2%) |
▼ 17.0% |
72.5% (68.3%) |
▲ 6.1% |
| Total Raised |
£230.5M (£240.2M) |
▼ 4.0% |
£176.1M (£175.7M) |
▲ 0.2% |
£54.5M (£64.5M) |
▼ 15.6% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
733 (590) |
▲ 24.2% |
606 (412) |
▲ 47.1% |
127 (178) |
▼ 28.7% |
| Lots Sold |
578 (481) |
▲ 20.2% |
478 (336) |
▲ 42.3% |
100 (145) |
▼ 31.0% |
| Percent Sold |
78.9% (81.5%) |
▼ 3.2% |
78.9% (81.6%) |
▼ 3.3% |
78.7% (81.5%) |
▼ 3.4% |
| Total Raised |
£135.4M (£133.5M) |
▲ 1.4% |
£109.0M (£82.4M) |
▲ 32.3% |
£26.4M (£51.1M) |
▼ 48.4% |
 Wales
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
623 (505) |
▲ 23.4% |
530 (410) |
▲ 29.3% |
93 (95) |
▼ 2.1% |
| Lots Sold |
404 (410) |
▼ 1.5% |
338 (330) |
▲ 2.4% |
66 (80) |
▼ 17.5% |
| Percent Sold |
64.8% (81.2%) |
▼ 20.2% |
63.8% (80.5%) |
▼ 20.7% |
71.0% (84.2%) |
▼ 15.7% |
| Total Raised |
£54.6M (£59.2M) |
▼ 7.8% |
£40.4M (£40.0M) |
▲ 1.0% |
£14.2M (£19.2M) |
▼ 26.1% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
929 (796) |
▲ 16.7% |
797 (708) |
▲ 12.6% |
132 (88) |
▲ 50.0% |
| Lots Sold |
682 (638) |
▲ 6.9% |
579 (564) |
▲ 2.7% |
103 (74) |
▲ 39.2% |
| Percent Sold |
73.4% (80.2%) |
▼ 8.5% |
72.6% (79.7%) |
▼ 8.9% |
78.0% (84.1%) |
▼ 7.3% |
| Total Raised |
£135.6M (£104.8M) |
▲ 29.3% |
£89.8M (£76.3M) |
▲ 17.6% |
£45.8M (£28.5M) |
▲ 60.6% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| September 2022 to November 2022 |
Total |
Residential |
Commercial |
| Lots Offered |
782 (563) |
▲ 38.9% |
703 (489) |
▲ 43.8% |
79 (74) |
▲ 6.8% |
| Lots Sold |
542 (425) |
▲ 27.5% |
486 (369) |
▲ 31.7% |
56 (56) |
▼ 0.0% |
| Percent Sold |
69.3% (75.5%) |
▼ 8.2% |
69.1% (75.5%) |
▼ 8.5% |
70.9% (75.7%) |
▼ 6.3% |
| Total Raised |
£79.5M (£69.0M) |
▲ 15.1% |
£50.0M (£44.2M) |
▲ 13.1% |
£29.5M (£24.8M) |
▲ 18.6% |
Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.
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