Essential Auction News
The UK property auction market, as reflected in the October 2023 statistics, reveals a dynamic landscape. The overall trends indicate an 8.7% increase in lots offered, totalling 3,183, and a corresponding 7.8% rise in lots sold, reaching 2,136. Despite a slight dip of 0.9%, the percentage of lots sold settled at 67.1%. Financially, the market demonstrated strength, with a 14.2% surge in total raised, reaching £380.8 million.
Within the residential sector, positive momentum continued with a 5.7% increase in lots offered and a 6.4% rise in lots sold. The percentage of residential lots sold improved marginally by 0.6%, reaching 68.1%. Despite a slight financial dip of 0.7%, the residential market remained robust, totalling £291.7 million in funds raised. Conversely, the commercial market experienced a notable 39.3% surge in lots offered and a 22.0% increase in lots sold. However, the percentage of commercial lots sold saw a significant decline of 12.4%, resting at 59.2%. Total funds raised in the commercial segment, however, spiked impressively by 125.1%, reaching £89 million.
Delving into the regional markets, variations are evident, with East Anglia experiencing a 28.6% increase in lots offered and a 30.5% rise in lots sold. In contrast, the London market, while witnessing a 16.1% uptick in lots offered, faced a 5.3% decline in the percentage of lots sold, resulting in a 7.1% decrease in total funds raised. These regional intricacies highlight the need to consider specific geographic contexts for a comprehensive understanding of market dynamics.
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 October 2023 |
| Total Lots Offered |
3,183 |
| Total Lots Sold |
2,136 |
| Percent Sold |
67.1% |
| Total Realised |
£380,780,700 |
|
|
National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
October 2023 |
August 2023 to October 2023 |
November 2022 to October 2023 |
| Lots Offered |
3,183 (2,928) |
▲ 8.7% |
9,148 (7,706) |
▲ 18.7% |
35,858 (29,580) |
▲ 21.2% |
| Lots Sold |
2,136 (1,982) |
▲ 7.8% |
6,266 (5,409) |
▲ 15.8% |
24,886 (21,976) |
▲ 13.2% |
| Percent Sold |
67.1% (67.7%) |
▼ 0.9% |
68.5% (70.2%) |
▼ 2.4% |
69.4% (74.3%) |
▼ 6.6% |
| Total Raised |
£380.8M (£333.3M) |
▲ 14.2% |
£1,138.8M (£1,069.5M) |
▲ 6.5% |
£4,708.6M (£4,742.9M) |
▼ 0.7% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
October 2023 |
August 2023 to October 2023 |
November 2022 to October 2023 |
| Lots Offered |
2,818 (2,666) |
▲ 5.7% |
8,089 (6,747) |
▲ 19.9% |
31,476 (25,148) |
▲ 25.2% |
| Lots Sold |
1,920 (1,805) |
▲ 6.4% |
5,581 (4,754) |
▲ 17.4% |
21,817 (18,802) |
▲ 16.0% |
| Percent Sold |
68.1% (67.7%) |
▲ 0.6% |
69.0% (70.5%) |
▼ 2.1% |
69.3% (74.8%) |
▼ 7.4% |
| Total Raised |
£291.7M (£293.8M) |
▼ 0.7% |
£907.1M (£829.9M) |
▲ 9.3% |
£3,644.5M (£3,559.7M) |
▲ 2.4% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
October 2023 |
August 2023 to October 2023 |
November 2022 to October 2023 |
| Lots Offered |
365 (262) |
▲ 39.3% |
1,059 (959) |
▲ 10.4% |
4,382 (4,432) |
▼ 1.1% |
| Lots Sold |
216 (177) |
▲ 22.0% |
685 (655) |
▲ 4.6% |
3,069 (3,174) |
▼ 3.3% |
| Percent Sold |
59.2% (67.6%) |
▼ 12.4% |
64.7% (68.3%) |
▼ 5.3% |
70.0% (71.6%) |
▼ 2.2% |
| Total Raised |
£89.0M (£39.6M) |
▲ 125.1% |
£231.7M (£239.6M) |
▼ 3.3% |
£1,064.1M (£1,183.2M) |
▼ 10.1% |
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)
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
387 (301) |
▲ 28.6% |
341 (256) |
▲ 33.2% |
46 (45) |
▲ 2.2% |
| Lots Sold |
278 (213) |
▲ 30.5% |
249 (181) |
▲ 37.6% |
29 (32) |
▼ 9.4% |
| Percent Sold |
71.8% (70.8%) |
▲ 1.4% |
73.0% (70.7%) |
▲ 3.3% |
63.0% (71.1%) |
▼ 11.4% |
| Total Raised |
£44.2M (£41.8M) |
▲ 5.8% |
£37.3M (£31.9M) |
▲ 17.1% |
£6.9M (£10.0M) |
▼ 30.4% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
674 (619) |
▲ 8.9% |
597 (550) |
▲ 8.5% |
77 (69) |
▲ 11.6% |
| Lots Sold |
487 (436) |
▲ 11.7% |
429 (383) |
▲ 12.0% |
58 (53) |
▲ 9.4% |
| Percent Sold |
72.3% (70.4%) |
▲ 2.7% |
71.9% (69.6%) |
▲ 3.3% |
75.3% (76.8%) |
▼ 2.0% |
| Total Raised |
£77.1M (£63.9M) |
▲ 20.6% |
£60.0M (£50.7M) |
▲ 18.3% |
£17.1M (£13.2M) |
▲ 29.4% |
 London
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
735 (633) |
▲ 16.1% |
674 (574) |
▲ 17.4% |
61 (59) |
▲ 3.4% |
| Lots Sold |
510 (464) |
▲ 9.9% |
474 (415) |
▲ 14.2% |
36 (49) |
▼ 26.5% |
| Percent Sold |
69.4% (73.3%) |
▼ 5.3% |
70.3% (72.3%) |
▼ 2.8% |
59.0% (83.1%) |
▼ 29.0% |
| Total Raised |
£203.9M (£219.4M) |
▼ 7.1% |
£177.9M (£173.0M) |
▲ 2.8% |
£26.0M (£46.4M) |
▼ 43.9% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
580 (489) |
▲ 18.6% |
552 (447) |
▲ 23.5% |
28 (42) |
▼ 33.3% |
| Lots Sold |
433 (337) |
▲ 28.5% |
416 (304) |
▲ 36.8% |
17 (33) |
▼ 48.5% |
| Percent Sold |
74.7% (68.9%) |
▲ 8.4% |
75.4% (68.0%) |
▲ 10.9% |
60.7% (78.6%) |
▼ 22.8% |
| Total Raised |
£31.9M (£28.8M) |
▲ 10.6% |
£29.1M (£20.7M) |
▲ 40.7% |
£2.8M (£8.1M) |
▼ 65.9% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
1,393 (1,232) |
▲ 13.1% |
1,260 (1,096) |
▲ 15.0% |
133 (136) |
▼ 2.2% |
| Lots Sold |
956 (841) |
▲ 13.7% |
858 (758) |
▲ 13.2% |
98 (83) |
▲ 18.1% |
| Percent Sold |
68.6% (68.3%) |
▲ 0.4% |
68.1% (69.2%) |
▼ 1.6% |
73.7% (61.0%) |
▲ 20.8% |
| Total Raised |
£119.7M (£98.9M) |
▲ 21.1% |
£90.9M (£77.9M) |
▲ 16.7% |
£28.9M (£21.0M) |
▲ 37.6% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
663 (541) |
▲ 22.6% |
583 (490) |
▲ 19.0% |
80 (51) |
▲ 56.9% |
| Lots Sold |
473 (402) |
▲ 17.7% |
414 (366) |
▲ 13.1% |
59 (36) |
▲ 63.9% |
| Percent Sold |
71.3% (74.3%) |
▼ 4.0% |
71.0% (74.7%) |
▼ 5.0% |
73.8% (70.6%) |
▲ 4.5% |
| Total Raised |
£120.5M (£99.5M) |
▲ 21.1% |
£89.3M (£80.0M) |
▲ 11.6% |
£31.2M (£19.5M) |
▲ 59.9% |
 Northern Ireland
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
43 (34) |
▲ 26.5% |
40 (31) |
▲ 29.0% |
3 (3) |
▼ 0.0% |
| Lots Sold |
17 (14) |
▲ 21.4% |
17 (13) |
▲ 30.8% |
0 (1) |
▼ 100.0% |
| Percent Sold |
39.5% (41.2%) |
▼ 4.1% |
42.5% (41.9%) |
▲ 1.4% |
0.0% (33.3%) |
▼ 100.0% |
| Total Raised |
£1.4M (£1.4M) |
▲ 5.0% |
£1.4M (£1.2M) |
▲ 20.5% |
£0.0M (£0.2M) |
▼ 100.0% |
 Scotland
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
306 (216) |
▲ 41.7% |
211 (143) |
▲ 47.6% |
95 (73) |
▲ 30.1% |
| Lots Sold |
95 (84) |
▲ 13.1% |
75 (64) |
▲ 17.2% |
20 (20) |
▼ 0.0% |
| Percent Sold |
31.0% (38.9%) |
▼ 20.3% |
35.5% (44.8%) |
▼ 20.8% |
21.1% (27.4%) |
▼ 23.0% |
| Total Raised |
£10.1M (£8.9M) |
▲ 13.3% |
£5.4M (£3.8M) |
▲ 40.9% |
£4.7M (£5.1M) |
▼ 7.6% |
 South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
1,399 (1,071) |
▲ 30.6% |
1,253 (940) |
▲ 33.3% |
146 (131) |
▲ 11.5% |
| Lots Sold |
896 (733) |
▲ 22.2% |
795 (639) |
▲ 24.4% |
101 (94) |
▲ 7.4% |
| Percent Sold |
64.0% (68.4%) |
▼ 6.4% |
63.4% (68.0%) |
▼ 6.8% |
69.2% (71.8%) |
▼ 3.6% |
| Total Raised |
£204.2M (£183.3M) |
▲ 11.4% |
£164.6M (£147.3M) |
▲ 11.7% |
£39.6M (£36.0M) |
▲ 10.2% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
735 (572) |
▲ 28.5% |
600 (479) |
▲ 25.3% |
135 (93) |
▲ 45.2% |
| Lots Sold |
553 (456) |
▲ 21.3% |
449 (384) |
▲ 16.9% |
104 (72) |
▲ 44.4% |
| Percent Sold |
75.2% (79.7%) |
▼ 5.6% |
74.8% (80.2%) |
▼ 6.7% |
77.0% (77.4%) |
▼ 0.5% |
| Total Raised |
£104.3M (£99.6M) |
▲ 4.7% |
£79.3M (£82.0M) |
▼ 3.3% |
£25.0M (£17.6M) |
▲ 42.1% |
 Wales
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
594 (527) |
▲ 12.7% |
509 (447) |
▲ 13.9% |
85 (80) |
▲ 6.3% |
| Lots Sold |
348 (342) |
▲ 1.8% |
306 (289) |
▲ 5.9% |
42 (53) |
▼ 20.8% |
| Percent Sold |
58.6% (64.9%) |
▼ 9.7% |
60.1% (64.7%) |
▼ 7.1% |
49.4% (66.2%) |
▼ 25.4% |
| Total Raised |
£41.1M (£42.6M) |
▼ 3.6% |
£34.5M (£34.1M) |
▲ 1.0% |
£6.6M (£8.5M) |
▼ 22.2% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
950 (780) |
▲ 21.8% |
846 (676) |
▲ 25.1% |
104 (104) |
▼ 0.0% |
| Lots Sold |
717 (590) |
▲ 21.5% |
639 (509) |
▲ 25.5% |
78 (81) |
▼ 3.7% |
| Percent Sold |
75.5% (75.6%) |
▼ 0.1% |
75.5% (75.3%) |
▲ 0.3% |
75.0% (77.9%) |
▼ 3.7% |
| Total Raised |
£116.6M (£115.7M) |
▲ 0.8% |
£89.3M (£81.1M) |
▲ 10.1% |
£27.3M (£34.6M) |
▼ 21.0% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| August 2023 to October 2023 |
Total |
Residential |
Commercial |
| Lots Offered |
689 (691) |
▼ 0.3% |
623 (618) |
▲ 0.8% |
66 (73) |
▼ 9.6% |
| Lots Sold |
503 (497) |
▲ 1.2% |
460 (449) |
▲ 2.4% |
43 (48) |
▼ 10.4% |
| Percent Sold |
73.0% (71.9%) |
▲ 1.5% |
73.8% (72.7%) |
▲ 1.5% |
65.2% (65.8%) |
▼ 0.9% |
| Total Raised |
£63.7M (£65.8M) |
▼ 3.2% |
£48.1M (£46.3M) |
▲ 4.0% |
£15.6M (£19.5M) |
▼ 20.2% |
Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.
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