Essential Auction News
Welcome to the July 2023 edition of our newsletter that looks back at auction activity in June and preceding periods.
June 2023's auction statistics reveal a notable uptick in the volume of properties offered at auction, with 2,700 lots coming to market, a 20.2% increase compared to the same period last year. Despite this surge, the percentage of lots sold saw a downward trend, standing at 63.6%, a reduction of 10.8% compared to June 2022. This led to a total of £302.3 million in sales for June, which marks a 13.8% decrease compared to the previous year.
In a broader context, data from April to June 2023 indicates a 13.4% increase in lots offered compared to the same period last year. However, the percentage of lots sold dropped by 6.0% to 68.8%. These trends suggest a higher supply of properties but with somewhat softer demand.
In total, the sales from this period amounted to approximately £1.13bn, a decrease of 6.7% from the preceding year. For the full year from July 2022 to June 2023, the volume of lots offered rose by 18.7%, but with the percentage of lots sold shrinking by 8.1%, the total amount raised only increased by a slight 1.9% to approximately £4.78bn. In the residential sector, a similar pattern of more lots offered but a lower percentage sold was observed, while the commercial sector saw a marginal growth of 0.5% in total revenues over the past 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 June 2023 |
| Total Lots Offered |
2,700 |
| Total Lots Sold |
1,718 |
| Percent Sold |
63.6% |
| Total Realised |
£302,272,000 |
|
|
National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
June 2023 |
April 2023 to June 2023 |
July 2022 to June 2023 |
| Lots Offered |
2,700 (2,247) |
▲ 20.2% |
8,749 (7,718) |
▲ 13.4% |
34,169 (28,775) |
▲ 18.7% |
| Lots Sold |
1,718 (1,603) |
▲ 7.2% |
6,021 (5,653) |
▲ 6.5% |
23,977 (21,990) |
▲ 9.0% |
| Percent Sold |
63.6% (71.3%) |
▼ 10.8% |
68.8% (73.2%) |
▼ 6.0% |
70.2% (76.4%) |
▼ 8.1% |
| Total Raised |
£302.3M (£350.5M) |
▼ 13.8% |
£1,129.1M (£1,210.1M) |
▼ 6.7% |
£4,783.6M (£4,693.6M) |
▲ 1.9% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
June 2023 |
April 2023 to June 2023 |
July 2022 to June 2023 |
| Lots Offered |
2,374 (1,950) |
▲ 21.7% |
7,634 (6,523) |
▲ 17.0% |
29,826 (24,403) |
▲ 22.2% |
| Lots Sold |
1,527 (1,427) |
▲ 7.0% |
5,251 (4,882) |
▲ 7.6% |
20,893 (18,793) |
▲ 11.2% |
| Percent Sold |
64.3% (73.2%) |
▼ 12.2% |
68.8% (74.8%) |
▼ 8.0% |
70.0% (77.0%) |
▼ 9.1% |
| Total Raised |
£264.2M (£311.0M) |
▼ 15.1% |
£920.7M (£962.4M) |
▼ 4.3% |
£3,633.1M (£3,549.3M) |
▲ 2.4% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
June 2023 |
April 2023 to June 2023 |
July 2022 to June 2023 |
| Lots Offered |
326 (297) |
▲ 9.8% |
1,115 (1,195) |
▼ 6.7% |
4,343 (4,372) |
▼ 0.7% |
| Lots Sold |
191 (176) |
▲ 8.5% |
770 (771) |
▼ 0.1% |
3,084 (3,197) |
▼ 3.5% |
| Percent Sold |
58.6% (59.3%) |
▼ 1.2% |
69.1% (64.5%) |
▲ 7.1% |
71.0% (73.1%) |
▼ 2.9% |
| Total Raised |
£38.1M (£39.5M) |
▼ 3.7% |
£208.4M (£247.7M) |
▼ 15.9% |
£1,150.6M (£1,144.3M) |
▲ 0.5% |
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)
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
378 (280) |
▲ 35.0% |
324 (231) |
▲ 40.3% |
54 (49) |
▲ 10.2% |
| Lots Sold |
263 (201) |
▲ 30.8% |
225 (167) |
▲ 34.7% |
38 (34) |
▲ 11.8% |
| Percent Sold |
69.6% (71.8%) |
▼ 3.1% |
69.4% (72.3%) |
▼ 4.0% |
70.4% (69.4%) |
▲ 1.4% |
| Total Raised |
£50.3M (£43.3M) |
▲ 16.3% |
£39.3M (£32.2M) |
▲ 21.8% |
£11.1M (£11.1M) |
▲ 0.3% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
694 (597) |
▲ 16.2% |
608 (506) |
▲ 20.2% |
86 (91) |
▼ 5.5% |
| Lots Sold |
455 (449) |
▲ 1.3% |
390 (391) |
▼ 0.3% |
65 (58) |
▲ 12.1% |
| Percent Sold |
65.6% (75.2%) |
▼ 12.8% |
64.1% (77.3%) |
▼ 17.1% |
75.6% (63.7%) |
▲ 18.7% |
| Total Raised |
£87.1M (£74.7M) |
▲ 16.6% |
£69.2M (£58.6M) |
▲ 18.1% |
£17.9M (£16.1M) |
▲ 11.1% |
 London
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
657 (711) |
▼ 7.6% |
595 (649) |
▼ 8.3% |
62 (62) |
▼ 0.0% |
| Lots Sold |
506 (548) |
▼ 7.7% |
461 (507) |
▼ 9.1% |
45 (41) |
▲ 9.8% |
| Percent Sold |
77.0% (77.1%) |
▼ 0.1% |
77.5% (78.1%) |
▼ 0.8% |
72.6% (66.1%) |
▲ 9.8% |
| Total Raised |
£217.0M (£277.5M) |
▼ 21.8% |
£191.8M (£241.3M) |
▼ 20.5% |
£25.1M (£36.2M) |
▼ 30.5% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
520 (471) |
▲ 10.4% |
493 (434) |
▲ 13.6% |
27 (37) |
▼ 27.0% |
| Lots Sold |
391 (324) |
▲ 20.7% |
366 (302) |
▲ 21.2% |
25 (22) |
▲ 13.6% |
| Percent Sold |
75.2% (68.8%) |
▲ 9.3% |
74.2% (69.6%) |
▲ 6.6% |
92.6% (59.5%) |
▲ 55.6% |
| Total Raised |
£34.3M (£29.5M) |
▲ 16.3% |
£27.4M (£24.6M) |
▲ 11.5% |
£6.9M (£4.9M) |
▲ 40.6% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
1,372 (1,135) |
▲ 20.9% |
1,217 (994) |
▲ 22.4% |
155 (141) |
▲ 9.9% |
| Lots Sold |
920 (849) |
▲ 8.4% |
816 (758) |
▲ 7.7% |
104 (91) |
▲ 14.3% |
| Percent Sold |
67.1% (74.8%) |
▼ 10.3% |
67.1% (76.3%) |
▼ 12.1% |
67.1% (64.5%) |
▲ 4.0% |
| Total Raised |
£110.9M (£105.4M) |
▲ 5.3% |
£87.5M (£86.7M) |
▲ 0.9% |
£23.4M (£18.7M) |
▲ 25.3% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
615 (554) |
▲ 11.0% |
560 (464) |
▲ 20.7% |
55 (90) |
▼ 38.9% |
| Lots Sold |
430 (393) |
▲ 9.4% |
389 (347) |
▲ 12.1% |
41 (46) |
▼ 10.9% |
| Percent Sold |
69.9% (70.9%) |
▼ 1.4% |
69.5% (74.8%) |
▼ 7.1% |
74.5% (51.1%) |
▲ 45.8% |
| Total Raised |
£109.6M (£110.5M) |
▼ 0.8% |
£88.3M (£89.3M) |
▼ 1.1% |
£21.3M (£21.2M) |
▲ 0.6% |
 Northern Ireland
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
50 (74) |
▼ 32.4% |
38 (46) |
▼ 17.4% |
12 (28) |
▼ 57.1% |
| Lots Sold |
17 (28) |
▼ 39.3% |
13 (16) |
▼ 18.8% |
4 (12) |
▼ 66.7% |
| Percent Sold |
34.0% (37.8%) |
▼ 10.1% |
34.2% (34.8%) |
▼ 1.7% |
33.3% (42.9%) |
▼ 22.4% |
| Total Raised |
£1.6M (£2.5M) |
▼ 34.3% |
£1.3M (£1.2M) |
▲ 11.6% |
£0.3M (£1.2M) |
▼ 78.7% |
 Scotland
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
356 (269) |
▲ 32.3% |
198 (167) |
▲ 18.6% |
158 (102) |
▲ 54.9% |
| Lots Sold |
140 (116) |
▲ 20.7% |
67 (74) |
▼ 9.5% |
73 (42) |
▲ 73.8% |
| Percent Sold |
39.3% (43.1%) |
▼ 8.8% |
33.8% (44.3%) |
▼ 23.7% |
46.2% (41.2%) |
▲ 12.1% |
| Total Raised |
£14.9M (£14.1M) |
▲ 5.8% |
£4.7M (£5.6M) |
▼ 17.1% |
£10.3M (£8.5M) |
▲ 21.0% |
 South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
1,320 (1,277) |
▲ 3.4% |
1,164 (1,057) |
▲ 10.1% |
156 (220) |
▼ 29.1% |
| Lots Sold |
895 (894) |
▲ 0.1% |
779 (772) |
▲ 0.9% |
116 (122) |
▼ 4.9% |
| Percent Sold |
67.8% (70.0%) |
▼ 3.1% |
66.9% (73.0%) |
▼ 8.4% |
74.4% (55.5%) |
▲ 34.1% |
| Total Raised |
£215.0M (£253.1M) |
▼ 15.1% |
£179.9M (£192.6M) |
▼ 6.6% |
£35.2M (£60.5M) |
▼ 41.9% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
734 (654) |
▲ 12.2% |
625 (517) |
▲ 20.9% |
109 (137) |
▼ 20.4% |
| Lots Sold |
548 (527) |
▲ 4.0% |
455 (418) |
▲ 8.9% |
93 (109) |
▼ 14.7% |
| Percent Sold |
74.7% (80.6%) |
▼ 7.3% |
72.8% (80.9%) |
▼ 10.0% |
85.3% (79.6%) |
▲ 7.2% |
| Total Raised |
£109.9M (£110.9M) |
▼ 0.9% |
£86.1M (£86.6M) |
▼ 0.5% |
£23.8M (£24.3M) |
▼ 2.2% |
 Wales
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
582 (471) |
▲ 23.6% |
509 (393) |
▲ 29.5% |
73 (78) |
▼ 6.4% |
| Lots Sold |
387 (358) |
▲ 8.1% |
345 (297) |
▲ 16.2% |
42 (61) |
▼ 31.1% |
| Percent Sold |
66.5% (76.0%) |
▼ 12.5% |
67.8% (75.6%) |
▼ 10.3% |
57.5% (78.2%) |
▼ 26.5% |
| Total Raised |
£46.4M (£42.5M) |
▲ 9.2% |
£40.0M (£33.6M) |
▲ 19.2% |
£6.4M (£8.9M) |
▼ 28.4% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
767 (594) |
▲ 29.1% |
681 (509) |
▲ 33.8% |
86 (85) |
▲ 1.2% |
| Lots Sold |
559 (490) |
▲ 14.1% |
493 (422) |
▲ 16.8% |
66 (68) |
▼ 2.9% |
| Percent Sold |
72.9% (82.5%) |
▼ 11.6% |
72.4% (82.9%) |
▼ 12.7% |
76.7% (80.0%) |
▼ 4.1% |
| Total Raised |
£82.5M (£87.9M) |
▼ 6.1% |
£66.9M (£64.3M) |
▲ 4.0% |
£15.6M (£23.6M) |
▼ 33.8% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| April 2023 to June 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
704 (631) |
▲ 11.6% |
622 (556) |
▲ 11.9% |
82 (75) |
▲ 9.3% |
| Lots Sold |
510 (476) |
▲ 7.1% |
452 (411) |
▲ 10.0% |
58 (65) |
▼ 10.8% |
| Percent Sold |
72.4% (75.4%) |
▼ 4.0% |
72.7% (73.9%) |
▼ 1.6% |
70.7% (86.7%) |
▼ 18.5% |
| Total Raised |
£49.4M (£58.1M) |
▼ 15.1% |
£38.3M (£45.7M) |
▼ 16.2% |
£11.1M (£12.5M) |
▼ 10.9% |
Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.
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