Essential Auction News
June 2024 has delivered a robust growth in both residential and commercial property auctions. Notably, the additional Allsop Commercial auction for the month significantly contributed to the commercial sector's impressive numbers, where the lots sold increased by 37.2% compared to last year, and total revenue surged by an astounding 160.3%. This additional auction has played a pivotal role in boosting the overall commercial growth, although the quarterly and yearly figures continue to show a slight decline.
Residential auctions have also shown remarkable growth, with lots offered and sold rising by 11.2% and 22.1%, respectively, in June 2024 compared to the same period last year. This increase is fuelled by significant activity in major London sales, which saw high growth numbers. In the second quarter this year, London's residential lots sold increased by 10.8%, with total revenue up by 19.3%.
Additionally, regional players in areas like East Anglia and the East Midlands have shown strong performance, with substantial increases in lots offered and sold. However, not all auctioneers have experienced this buoyancy, as indicated by regional variations, such as Scotland, where the total raised decreased by 30.8% despite an increase in residential activity.
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 2024 |
| Total Lots Offered |
3,009 |
| Total Lots Sold |
2,126 |
| Percent Sold |
70.7% |
| Total Realised |
£427,750,600 |
|
|
National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
June 2024 |
April 2024 to June 2024 |
July 2023 to June 2024 |
| Lots Offered |
3,009 (2,700) |
▲ 11.4% |
9,560 (8,749) |
▲ 9.3% |
37,491 (34,169) |
▲ 9.7% |
| Lots Sold |
2,126 (1,718) |
▲ 23.7% |
6,800 (6,021) |
▲ 12.9% |
26,611 (23,977) |
▲ 11.0% |
| Percent Sold |
70.7% (63.6%) |
▲ 11.2% |
71.1% (68.8%) |
▲ 3.3% |
71.0% (70.2%) |
▲ 1.1% |
| Total Raised |
£427.8M (£302.3M) |
▲ 41.5% |
£1,317.0M (£1,129.1M) |
▲ 16.6% |
£5,098.1M (£4,783.6M) |
▲ 6.6% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
June 2024 |
April 2024 to June 2024 |
July 2023 to June 2024 |
| Lots Offered |
2,640 (2,374) |
▲ 11.2% |
8,463 (7,634) |
▲ 10.9% |
33,036 (29,826) |
▲ 10.8% |
| Lots Sold |
1,864 (1,527) |
▲ 22.1% |
6,041 (5,251) |
▲ 15.0% |
23,508 (20,893) |
▲ 12.5% |
| Percent Sold |
70.6% (64.3%) |
▲ 9.8% |
71.4% (68.8%) |
▲ 3.8% |
71.2% (70.0%) |
▲ 1.7% |
| Total Raised |
£328.6M (£264.2M) |
▲ 24.4% |
£1,058.1M (£920.7M) |
▲ 14.9% |
£3,978.5M (£3,633.1M) |
▲ 9.5% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
June 2024 |
April 2024 to June 2024 |
July 2023 to June 2024 |
| Lots Offered |
369 (326) |
▲ 13.2% |
1,097 (1,115) |
▼ 1.6% |
4,455 (4,343) |
▲ 2.6% |
| Lots Sold |
262 (191) |
▲ 37.2% |
759 (770) |
▼ 1.4% |
3,103 (3,084) |
▲ 0.6% |
| Percent Sold |
71.0% (58.6%) |
▲ 21.2% |
69.2% (69.1%) |
▲ 0.1% |
69.7% (71.0%) |
▼ 1.8% |
| Total Raised |
£99.1M (£38.1M) |
▲ 160.3% |
£258.9M (£208.4M) |
▲ 24.2% |
£1,119.6M (£1,150.6M) |
▼ 2.7% |
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 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
453 (378) |
▲ 19.8% |
410 (324) |
▲ 26.5% |
43 (54) |
▼ 20.4% |
| Lots Sold |
324 (263) |
▲ 23.2% |
294 (225) |
▲ 30.7% |
30 (38) |
▼ 21.1% |
| Percent Sold |
71.5% (69.6%) |
▲ 2.7% |
71.7% (69.4%) |
▲ 3.3% |
69.8% (70.4%) |
▼ 0.9% |
| Total Raised |
£59.0M (£50.3M) |
▲ 17.2% |
£48.4M (£39.3M) |
▲ 23.2% |
£10.6M (£11.1M) |
▼ 4.2% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
758 (694) |
▲ 9.2% |
662 (608) |
▲ 8.9% |
96 (86) |
▲ 11.6% |
| Lots Sold |
551 (455) |
▲ 21.1% |
473 (390) |
▲ 21.3% |
78 (65) |
▲ 20.0% |
| Percent Sold |
72.7% (65.6%) |
▲ 10.8% |
71.5% (64.1%) |
▲ 11.5% |
81.2% (75.6%) |
▲ 7.4% |
| Total Raised |
£89.0M (£87.1M) |
▲ 2.2% |
£70.5M (£69.2M) |
▲ 2.0% |
£18.5M (£17.9M) |
▲ 3.1% |
 London
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
738 (657) |
▲ 12.3% |
678 (595) |
▲ 13.9% |
60 (62) |
▼ 3.2% |
| Lots Sold |
557 (506) |
▲ 10.1% |
511 (461) |
▲ 10.8% |
46 (45) |
▲ 2.2% |
| Percent Sold |
75.5% (77.0%) |
▼ 1.9% |
75.4% (77.5%) |
▼ 2.7% |
76.7% (72.6%) |
▲ 5.6% |
| Total Raised |
£279.1M (£217.0M) |
▲ 28.6% |
£228.8M (£191.8M) |
▲ 19.3% |
£50.3M (£25.1M) |
▲ 100.1% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
802 (520) |
▲ 54.2% |
765 (493) |
▲ 55.2% |
37 (27) |
▲ 37.0% |
| Lots Sold |
602 (391) |
▲ 54.0% |
575 (366) |
▲ 57.1% |
27 (25) |
▲ 8.0% |
| Percent Sold |
75.1% (75.2%) |
▼ 0.1% |
75.2% (74.2%) |
▲ 1.3% |
73.0% (92.6%) |
▼ 21.2% |
| Total Raised |
£38.9M (£34.3M) |
▲ 13.4% |
£34.3M (£27.4M) |
▲ 25.1% |
£4.6M (£6.9M) |
▼ 33.1% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,338 (1,372) |
▼ 2.5% |
1,182 (1,217) |
▼ 2.9% |
156 (155) |
▲ 0.6% |
| Lots Sold |
942 (920) |
▲ 2.4% |
848 (816) |
▲ 3.9% |
94 (104) |
▼ 9.6% |
| Percent Sold |
70.4% (67.1%) |
▲ 4.9% |
71.7% (67.1%) |
▲ 6.9% |
60.3% (67.1%) |
▼ 10.1% |
| Total Raised |
£128.2M (£110.9M) |
▲ 15.6% |
£103.7M (£87.5M) |
▲ 18.5% |
£24.5M (£23.4M) |
▲ 4.5% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
622 (615) |
▲ 1.1% |
570 (560) |
▲ 1.8% |
52 (55) |
▼ 5.5% |
| Lots Sold |
445 (430) |
▲ 3.5% |
408 (389) |
▲ 4.9% |
37 (41) |
▼ 9.8% |
| Percent Sold |
71.5% (69.9%) |
▲ 2.3% |
71.6% (69.5%) |
▲ 3.0% |
71.2% (74.5%) |
▼ 4.4% |
| Total Raised |
£117.9M (£109.6M) |
▲ 7.5% |
£97.3M (£88.3M) |
▲ 10.2% |
£20.5M (£21.3M) |
▼ 3.6% |
 Northern Ireland
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
55 (50) |
▲ 10.0% |
50 (38) |
▲ 31.6% |
5 (12) |
▼ 58.3% |
| Lots Sold |
29 (17) |
▲ 70.6% |
25 (13) |
▲ 92.3% |
4 (4) |
▼ 0.0% |
| Percent Sold |
52.7% (34.0%) |
▲ 55.0% |
50.0% (34.2%) |
▲ 46.2% |
80.0% (33.3%) |
▲ 140.2% |
| Total Raised |
£3.5M (£1.6M) |
▲ 114.7% |
£3.0M (£1.3M) |
▲ 121.2% |
£0.5M (£0.3M) |
▲ 82.0% |
 Scotland
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
378 (356) |
▲ 6.2% |
273 (198) |
▲ 37.9% |
105 (158) |
▼ 33.5% |
| Lots Sold |
122 (140) |
▼ 12.9% |
79 (67) |
▲ 17.9% |
43 (73) |
▼ 41.1% |
| Percent Sold |
32.3% (39.3%) |
▼ 17.8% |
28.9% (33.8%) |
▼ 14.5% |
41.0% (46.2%) |
▼ 11.3% |
| Total Raised |
£10.3M (£14.9M) |
▼ 30.8% |
£4.1M (£4.7M) |
▼ 12.7% |
£6.2M (£10.3M) |
▼ 39.1% |
 South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,559 (1,320) |
▲ 18.1% |
1,393 (1,164) |
▲ 19.7% |
166 (156) |
▲ 6.4% |
| Lots Sold |
1,097 (895) |
▲ 22.6% |
980 (779) |
▲ 25.8% |
117 (116) |
▲ 0.9% |
| Percent Sold |
70.4% (67.8%) |
▲ 3.8% |
70.4% (66.9%) |
▲ 5.2% |
70.5% (74.4%) |
▼ 5.2% |
| Total Raised |
£247.2M (£215.0M) |
▲ 14.9% |
£198.5M (£179.9M) |
▲ 10.4% |
£48.7M (£35.2M) |
▲ 38.4% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
802 (734) |
▲ 9.3% |
673 (625) |
▲ 7.7% |
129 (109) |
▲ 18.3% |
| Lots Sold |
611 (548) |
▲ 11.5% |
512 (455) |
▲ 12.5% |
99 (93) |
▲ 6.5% |
| Percent Sold |
76.2% (74.7%) |
▲ 2.0% |
76.1% (72.8%) |
▲ 4.5% |
76.7% (85.3%) |
▼ 10.1% |
| Total Raised |
£134.0M (£109.9M) |
▲ 21.9% |
£106.2M (£86.1M) |
▲ 23.3% |
£27.7M (£23.8M) |
▲ 16.6% |
 Wales
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
599 (582) |
▲ 2.9% |
522 (509) |
▲ 2.6% |
77 (73) |
▲ 5.5% |
| Lots Sold |
401 (387) |
▲ 3.6% |
346 (345) |
▲ 0.3% |
55 (42) |
▲ 31.0% |
| Percent Sold |
66.9% (66.5%) |
▲ 0.6% |
66.3% (67.8%) |
▼ 2.2% |
71.4% (57.5%) |
▲ 24.2% |
| Total Raised |
£47.3M (£46.4M) |
▲ 1.8% |
£39.0M (£40.0M) |
▼ 2.7% |
£8.3M (£6.4M) |
▲ 30.0% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
766 (767) |
▼ 0.1% |
672 (681) |
▼ 1.3% |
94 (86) |
▲ 9.3% |
| Lots Sold |
594 (559) |
▲ 6.3% |
522 (493) |
▲ 5.9% |
72 (66) |
▲ 9.1% |
| Percent Sold |
77.5% (72.9%) |
▲ 6.3% |
77.7% (72.4%) |
▲ 7.3% |
76.6% (76.7%) |
▼ 0.1% |
| Total Raised |
£95.8M (£82.5M) |
▲ 16.2% |
£75.2M (£66.9M) |
▲ 12.5% |
£20.6M (£15.6M) |
▲ 32.0% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| April 2024 to June 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
690 (704) |
▼ 2.0% |
613 (622) |
▼ 1.4% |
77 (82) |
▼ 6.1% |
| Lots Sold |
525 (510) |
▲ 2.9% |
468 (452) |
▲ 3.5% |
57 (58) |
▼ 1.7% |
| Percent Sold |
76.1% (72.4%) |
▲ 5.1% |
76.3% (72.7%) |
▲ 5.0% |
74.0% (70.7%) |
▲ 4.7% |
| Total Raised |
£66.9M (£49.4M) |
▲ 35.5% |
£49.1M (£38.3M) |
▲ 28.4% |
£17.7M (£11.1M) |
▲ 59.8% |
Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.
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