Essential Auction News
The national auction market in the UK is showing notable growth, with significant increases in both the number of lots offered and total funds raised. In April 2024, the number of lots offered rose by 19.5% compared to April 2023, while the total raised increased by 24.6%, reaching £344.4 million. This growth trend is consistent across the three comparative periods, with a 12.5% increase in lots offered and a 3.5% increase in total funds raised over the last twelve months. However, the overall percent sold has seen a slight decline of 1.3% in April 2024 compared to the previous year, which shows that properties are still selling well if priced accordingly with bidder intention.
The residential sector saw a 22.4% increase in lots offered and a 23.8% increase in lots sold in April 2024 compared to the same period last year. The total amount raised in residential auctions surged by 25.4%, totalling £297.9 million. Conversely, the commercial sector experienced minimal growth in lots offered (0.3%) and a decline in lots sold (16.8%), with the total amount raised increasing by 19.7% to £46.5 million. There is a tougher market for commercial properties at present, but the increase in average stock value shows there are still opportunities for the seasoned investor. Overall, the auctions market remains buoyant and robust, with high levels of continued interest and activity across the country.
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 April 2024 |
| Total Lots Offered |
2,681 |
| Total Lots Sold |
1,840 |
| Percent Sold |
68.6% |
| Total Realised |
£344,355,800 |
|
|
National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
April 2024 |
February 2024 to April 2024 |
May 2023 to April 2024 |
| Lots Offered |
2,681 (2,243) |
▲ 19.5% |
10,320 (9,676) |
▲ 6.7% |
37,130 (33,012) |
▲ 12.5% |
| Lots Sold |
1,840 (1,558) |
▲ 18.1% |
7,512 (7,000) |
▲ 7.3% |
26,163 (23,448) |
▲ 11.6% |
| Percent Sold |
68.6% (69.5%) |
▼ 1.3% |
72.8% (72.3%) |
▲ 0.7% |
70.5% (71.0%) |
▼ 0.7% |
| Total Raised |
£344.4M (£276.4M) |
▲ 24.6% |
£1,460.2M (£1,351.2M) |
▲ 8.1% |
£4,992.5M (£4,821.8M) |
▲ 3.5% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
April 2024 |
February 2024 to April 2024 |
May 2023 to April 2024 |
| Lots Offered |
2,384 (1,947) |
▲ 22.4% |
9,138 (8,450) |
▲ 8.1% |
32,673 (28,586) |
▲ 14.3% |
| Lots Sold |
1,657 (1,338) |
▲ 23.8% |
6,673 (6,089) |
▲ 9.6% |
23,082 (20,312) |
▲ 13.6% |
| Percent Sold |
69.5% (68.7%) |
▲ 1.2% |
73.0% (72.1%) |
▲ 1.2% |
70.6% (71.1%) |
▼ 0.7% |
| Total Raised |
£297.9M (£237.6M) |
▲ 25.4% |
£1,153.3M (£1,049.8M) |
▲ 9.9% |
£3,911.0M (£3,618.3M) |
▲ 8.1% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
April 2024 |
February 2024 to April 2024 |
May 2023 to April 2024 |
| Lots Offered |
297 (296) |
▲ 0.3% |
1,182 (1,226) |
▼ 3.6% |
4,457 (4,426) |
▲ 0.7% |
| Lots Sold |
183 (220) |
▼ 16.8% |
839 (911) |
▼ 7.9% |
3,081 (3,136) |
▼ 1.8% |
| Percent Sold |
61.6% (74.3%) |
▼ 17.1% |
71.0% (74.3%) |
▼ 4.4% |
69.1% (70.9%) |
▼ 2.5% |
| Total Raised |
£46.5M (£38.8M) |
▲ 19.7% |
£306.8M (£301.4M) |
▲ 1.8% |
£1,081.5M (£1,203.5M) |
▼ 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)
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
464 (437) |
▲ 6.2% |
409 (381) |
▲ 7.3% |
55 (56) |
▼ 1.8% |
| Lots Sold |
344 (328) |
▲ 4.9% |
299 (286) |
▲ 4.5% |
45 (42) |
▲ 7.1% |
| Percent Sold |
74.1% (75.1%) |
▼ 1.3% |
73.1% (75.1%) |
▼ 2.7% |
81.8% (75.0%) |
▲ 9.1% |
| Total Raised |
£58.8M (£55.3M) |
▲ 6.5% |
£46.9M (£45.3M) |
▲ 3.6% |
£11.9M (£10.0M) |
▲ 19.5% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
847 (761) |
▲ 11.3% |
722 (670) |
▲ 7.8% |
125 (91) |
▲ 37.4% |
| Lots Sold |
628 (550) |
▲ 14.2% |
530 (482) |
▲ 10.0% |
98 (68) |
▲ 44.1% |
| Percent Sold |
74.1% (72.3%) |
▲ 2.5% |
73.4% (71.9%) |
▲ 2.1% |
78.4% (74.7%) |
▲ 5.0% |
| Total Raised |
£130.7M (£103.6M) |
▲ 26.1% |
£86.4M (£85.0M) |
▲ 1.7% |
£44.2M (£18.7M) |
▲ 137.1% |
 London
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
828 (777) |
▲ 6.6% |
757 (685) |
▲ 10.5% |
71 (92) |
▼ 22.8% |
| Lots Sold |
624 (602) |
▲ 3.7% |
573 (533) |
▲ 7.5% |
51 (69) |
▼ 26.1% |
| Percent Sold |
75.4% (77.5%) |
▼ 2.7% |
75.7% (77.8%) |
▼ 2.7% |
71.8% (75.0%) |
▼ 4.3% |
| Total Raised |
£295.7M (£264.2M) |
▲ 11.9% |
£247.5M (£212.8M) |
▲ 16.3% |
£48.2M (£51.4M) |
▼ 6.2% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
882 (584) |
▲ 51.0% |
830 (542) |
▲ 53.1% |
52 (42) |
▲ 23.8% |
| Lots Sold |
683 (442) |
▲ 54.5% |
650 (405) |
▲ 60.5% |
33 (37) |
▼ 10.8% |
| Percent Sold |
77.4% (75.7%) |
▲ 2.2% |
78.3% (74.7%) |
▲ 4.8% |
63.5% (88.1%) |
▼ 27.9% |
| Total Raised |
£46.4M (£34.6M) |
▲ 34.0% |
£37.4M (£26.7M) |
▲ 40.1% |
£9.0M (£8.0M) |
▲ 13.6% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,499 (1,504) |
▼ 0.3% |
1,349 (1,298) |
▲ 3.9% |
150 (206) |
▼ 27.2% |
| Lots Sold |
1,073 (1,072) |
▲ 0.1% |
975 (916) |
▲ 6.4% |
98 (156) |
▼ 37.2% |
| Percent Sold |
71.6% (71.3%) |
▲ 0.4% |
72.3% (70.6%) |
▲ 2.4% |
65.3% (75.7%) |
▼ 13.7% |
| Total Raised |
£133.0M (£127.5M) |
▲ 4.4% |
£114.1M (£95.7M) |
▲ 19.2% |
£18.9M (£31.8M) |
▼ 40.4% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
629 (678) |
▼ 7.2% |
563 (615) |
▼ 8.5% |
66 (63) |
▲ 4.8% |
| Lots Sold |
489 (491) |
▼ 0.4% |
438 (444) |
▼ 1.4% |
51 (47) |
▲ 8.5% |
| Percent Sold |
77.7% (72.4%) |
▲ 7.3% |
77.8% (72.2%) |
▲ 7.8% |
77.3% (74.6%) |
▲ 3.6% |
| Total Raised |
£141.5M (£127.4M) |
▲ 11.1% |
£112.5M (£99.8M) |
▲ 12.7% |
£29.0M (£27.6M) |
▲ 5.1% |
 Northern Ireland
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
43 (53) |
▼ 18.9% |
41 (41) |
▼ 0.0% |
2 (12) |
▼ 83.3% |
| Lots Sold |
21 (22) |
▼ 4.5% |
20 (17) |
▲ 17.6% |
1 (5) |
▼ 80.0% |
| Percent Sold |
48.8% (41.5%) |
▲ 17.6% |
48.8% (41.5%) |
▲ 17.6% |
50.0% (41.7%) |
▲ 19.9% |
| Total Raised |
£2.5M (£2.2M) |
▲ 14.9% |
£2.5M (£1.8M) |
▲ 37.5% |
£0.0M (£0.4M) |
▼ 88.5% |
 Scotland
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
319 (325) |
▼ 1.8% |
231 (194) |
▲ 19.1% |
88 (131) |
▼ 32.8% |
| Lots Sold |
97 (154) |
▼ 37.0% |
68 (73) |
▼ 6.8% |
29 (81) |
▼ 64.2% |
| Percent Sold |
30.4% (47.4%) |
▼ 35.9% |
29.4% (37.6%) |
▼ 21.8% |
33.0% (61.8%) |
▼ 46.6% |
| Total Raised |
£16.8M (£21.6M) |
▼ 22.1% |
£6.4M (£6.8M) |
▼ 6.8% |
£10.5M (£14.8M) |
▼ 29.2% |
 South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,612 (1,426) |
▲ 13.0% |
1,437 (1,257) |
▲ 14.3% |
175 (169) |
▲ 3.6% |
| Lots Sold |
1,162 (991) |
▲ 17.3% |
1,032 (868) |
▲ 18.9% |
130 (123) |
▲ 5.7% |
| Percent Sold |
72.1% (69.5%) |
▲ 3.7% |
71.8% (69.1%) |
▲ 3.9% |
74.3% (72.8%) |
▲ 2.1% |
| Total Raised |
£274.3M (£264.6M) |
▲ 3.7% |
£217.9M (£199.6M) |
▲ 9.2% |
£56.3M (£65.0M) |
▼ 13.3% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
841 (811) |
▲ 3.7% |
741 (714) |
▲ 3.8% |
100 (97) |
▲ 3.1% |
| Lots Sold |
632 (623) |
▲ 1.4% |
552 (541) |
▲ 2.0% |
80 (82) |
▼ 2.4% |
| Percent Sold |
75.1% (76.8%) |
▼ 2.2% |
74.5% (75.8%) |
▼ 1.7% |
80.0% (84.5%) |
▼ 5.3% |
| Total Raised |
£129.5M (£123.9M) |
▲ 4.5% |
£102.9M (£97.2M) |
▲ 6.0% |
£26.6M (£26.8M) |
▼ 0.8% |
 Wales
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
609 (572) |
▲ 6.5% |
529 (504) |
▲ 5.0% |
80 (68) |
▲ 17.6% |
| Lots Sold |
404 (389) |
▲ 3.9% |
346 (346) |
▼ 0.0% |
58 (43) |
▲ 34.9% |
| Percent Sold |
66.3% (68.0%) |
▼ 2.5% |
65.4% (68.7%) |
▼ 4.8% |
72.5% (63.2%) |
▲ 14.7% |
| Total Raised |
£44.8M (£48.0M) |
▼ 6.6% |
£37.2M (£39.9M) |
▼ 6.7% |
£7.6M (£8.1M) |
▼ 6.4% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
927 (913) |
▲ 1.5% |
795 (812) |
▼ 2.1% |
132 (101) |
▲ 30.7% |
| Lots Sold |
730 (720) |
▲ 1.4% |
629 (642) |
▼ 2.0% |
101 (78) |
▲ 29.5% |
| Percent Sold |
78.7% (78.9%) |
▼ 0.3% |
79.1% (79.1%) |
▼ 0.0% |
76.5% (77.2%) |
▼ 0.9% |
| Total Raised |
£118.0M (£108.9M) |
▲ 8.4% |
£89.6M (£87.6M) |
▲ 2.2% |
£28.4M (£21.2M) |
▲ 33.9% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| February 2024 to April 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
820 (835) |
▼ 1.8% |
734 (737) |
▼ 0.4% |
86 (98) |
▼ 12.2% |
| Lots Sold |
625 (616) |
▲ 1.5% |
561 (536) |
▲ 4.7% |
64 (80) |
▼ 20.0% |
| Percent Sold |
76.2% (73.8%) |
▲ 3.3% |
76.4% (72.7%) |
▲ 5.1% |
74.4% (81.6%) |
▼ 8.8% |
| Total Raised |
£68.1M (£69.5M) |
▼ 2.0% |
£52.0M (£51.7M) |
▲ 0.6% |
£16.1M (£17.8M) |
▼ 9.7% |
Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.
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