Essential Auction News
The national auction market in October 2024 showcased a significant upswing compared to last year, with notable contributions from shifts in major players' schedules and performance dynamics. Allsop Residential’s decision to hold an auction in October, a departure from their schedule in 2023, played a pivotal role in boosting lot offerings by 33.6% year-on-year to 4,251 and driving a 38.5% increase in sales. Additionally, Savills demonstrated a dramatic increase in activity, doubling the number of lots offered. Together, these factors drove a 46.5% rise in total funds raised for October, reaching £557.7 million.
The residential sector led the charge, reflecting a substantial 66.9% increase in total funds raised compared to October 2023. This spike aligns with broader trends, including higher volumes of lots offered and sold, and improving sale rates, which rose by 2.6 percentage points year-on-year. Regional hotspots, such as the North-East and London, recorded significant growth in percent sold and total raised figures, underscoring robust demand. In contrast, the commercial sector experienced muted growth, with Allsop Commercial moving its sale to November. This shift contributed to a 20.4% year-on-year decline in October's total raised due to fewer high-value transactions, although an improved sale rate of 66.6% suggests stabilising demand in the sector.
October 2024 marked a robust growth phase for the auction market. As we move into the closing months of the year, we are on track to see one of the busiest years on record, and the momentum shows no signs of slowing.
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 over 1 million 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. |
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Overall Statistics October 2024 |
| Total Lots Offered |
4,251 |
| Total Lots Sold |
2,959 |
| Percent Sold |
69.6% |
| Total Realised |
£557,667,100 |
|
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National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
October 2024 |
August 2024 to October 2024 |
November 2023 to October 2024 |
| Lots Offered |
4,251 (3,183) |
▲ 33.6% |
10,239 (9,148) |
▲ 11.9% |
39,778 (35,858) |
▲ 10.9% |
| Lots Sold |
2,959 (2,136) |
▲ 38.5% |
7,216 (6,266) |
▲ 15.2% |
28,457 (24,886) |
▲ 14.3% |
| Percent Sold |
69.6% (67.1%) |
▲ 3.7% |
70.5% (68.5%) |
▲ 2.9% |
71.5% (69.4%) |
▲ 3.0% |
| Total Raised |
£557.7M (£380.8M) |
▲ 46.5% |
£1,401.4M (£1,138.8M) |
▲ 23.1% |
£5,524.8M (£4,708.6M) |
▲ 17.3% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
October 2024 |
August 2024 to October 2024 |
November 2023 to October 2024 |
| Lots Offered |
3,826 (2,818) |
▲ 35.8% |
9,099 (8,089) |
▲ 12.5% |
35,151 (31,476) |
▲ 11.7% |
| Lots Sold |
2,676 (1,920) |
▲ 39.4% |
6,465 (5,581) |
▲ 15.8% |
25,247 (21,817) |
▲ 15.7% |
| Percent Sold |
69.9% (68.1%) |
▲ 2.6% |
71.1% (69.0%) |
▲ 3.0% |
71.8% (69.3%) |
▲ 3.6% |
| Total Raised |
£486.8M (£291.7M) |
▲ 66.9% |
£1,181.1M (£907.1M) |
▲ 30.2% |
£4,430.1M (£3,644.5M) |
▲ 21.6% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
October 2024 |
August 2024 to October 2024 |
November 2023 to October 2024 |
| Lots Offered |
425 (365) |
▲ 16.4% |
1,140 (1,059) |
▲ 7.6% |
4,627 (4,382) |
▲ 5.6% |
| Lots Sold |
283 (216) |
▲ 31.0% |
751 (685) |
▲ 9.6% |
3,210 (3,069) |
▲ 4.6% |
| Percent Sold |
66.6% (59.2%) |
▲ 12.5% |
65.9% (64.7%) |
▲ 1.9% |
69.4% (70.0%) |
▼ 0.9% |
| Total Raised |
£70.9M (£89.0M) |
▼ 20.4% |
£220.2M (£231.7M) |
▼ 4.9% |
£1,094.7M (£1,064.1M) |
▲ 2.9% |
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 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
495 (387) |
▲ 27.9% |
439 (341) |
▲ 28.7% |
56 (46) |
▲ 21.7% |
| Lots Sold |
350 (278) |
▲ 25.9% |
308 (249) |
▲ 23.7% |
42 (29) |
▲ 44.8% |
| Percent Sold |
70.7% (71.8%) |
▼ 1.5% |
70.2% (73.0%) |
▼ 3.8% |
75.0% (63.0%) |
▲ 19.0% |
| Total Raised |
£63.2M (£44.2M) |
▲ 42.8% |
£49.7M (£37.3M) |
▲ 33.2% |
£13.5M (£6.9M) |
▲ 94.5% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
823 (674) |
▲ 22.1% |
728 (597) |
▲ 21.9% |
95 (77) |
▲ 23.4% |
| Lots Sold |
604 (487) |
▲ 24.0% |
538 (429) |
▲ 25.4% |
66 (58) |
▲ 13.8% |
| Percent Sold |
73.4% (72.3%) |
▲ 1.5% |
73.9% (71.9%) |
▲ 2.8% |
69.5% (75.3%) |
▼ 7.7% |
| Total Raised |
£101.0M (£77.1M) |
▲ 31.0% |
£81.6M (£60.0M) |
▲ 36.1% |
£19.4M (£17.1M) |
▲ 13.0% |
 London
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
781 (735) |
▲ 6.3% |
721 (674) |
▲ 7.0% |
60 (61) |
▼ 1.6% |
| Lots Sold |
579 (510) |
▲ 13.5% |
536 (474) |
▲ 13.1% |
43 (36) |
▲ 19.4% |
| Percent Sold |
74.1% (69.4%) |
▲ 6.8% |
74.3% (70.3%) |
▲ 5.7% |
71.7% (59.0%) |
▲ 21.5% |
| Total Raised |
£291.8M (£203.9M) |
▲ 43.1% |
£257.1M (£177.9M) |
▲ 44.5% |
£34.7M (£26.0M) |
▲ 33.4% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
854 (580) |
▲ 47.2% |
819 (552) |
▲ 48.4% |
35 (28) |
▲ 25.0% |
| Lots Sold |
681 (433) |
▲ 57.3% |
657 (416) |
▲ 57.9% |
24 (17) |
▲ 41.2% |
| Percent Sold |
79.7% (74.7%) |
▲ 6.7% |
80.2% (75.4%) |
▲ 6.4% |
68.6% (60.7%) |
▲ 13.0% |
| Total Raised |
£49.9M (£31.9M) |
▲ 56.6% |
£42.4M (£29.1M) |
▲ 45.7% |
£7.5M (£2.8M) |
▲ 171.3% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,544 (1,393) |
▲ 10.8% |
1,384 (1,260) |
▲ 9.8% |
160 (133) |
▲ 20.3% |
| Lots Sold |
1,035 (956) |
▲ 8.3% |
938 (858) |
▲ 9.3% |
97 (98) |
▼ 1.0% |
| Percent Sold |
67.0% (68.6%) |
▼ 2.3% |
67.8% (68.1%) |
▼ 0.4% |
60.6% (73.7%) |
▼ 17.8% |
| Total Raised |
£130.4M (£119.7M) |
▲ 8.9% |
£111.2M (£90.9M) |
▲ 22.4% |
£19.2M (£28.9M) |
▼ 33.3% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
694 (663) |
▲ 4.7% |
607 (583) |
▲ 4.1% |
87 (80) |
▲ 8.8% |
| Lots Sold |
500 (473) |
▲ 5.7% |
440 (414) |
▲ 6.3% |
60 (59) |
▲ 1.7% |
| Percent Sold |
72.0% (71.3%) |
▲ 1.0% |
72.5% (71.0%) |
▲ 2.1% |
69.0% (73.8%) |
▼ 6.5% |
| Total Raised |
£130.1M (£120.5M) |
▲ 8.0% |
£117.1M (£89.3M) |
▲ 31.2% |
£12.9M (£31.2M) |
▼ 58.5% |
 Northern Ireland
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
72 (43) |
▲ 67.4% |
63 (40) |
▲ 57.5% |
9 (3) |
▲ 200.0% |
| Lots Sold |
35 (17) |
▲ 105.9% |
34 (17) |
▲ 100.0% |
1 (0) |
▲ n/a |
| Percent Sold |
48.6% (39.5%) |
▲ 23.0% |
54.0% (42.5%) |
▲ 27.1% |
11.1% (0.0%) |
▲ n/a |
| Total Raised |
£3.6M (£1.4M) |
▲ 151.8% |
£3.6M (£1.4M) |
▲ 149.8% |
£0.0M (£0.0M) |
▲ n/a |
 Scotland
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
327 (306) |
▲ 6.9% |
231 (211) |
▲ 9.5% |
96 (95) |
▲ 1.1% |
| Lots Sold |
104 (95) |
▲ 9.5% |
65 (75) |
▼ 13.3% |
39 (20) |
▲ 95.0% |
| Percent Sold |
31.8% (31.0%) |
▲ 2.6% |
28.1% (35.5%) |
▼ 20.8% |
40.6% (21.1%) |
▲ 92.4% |
| Total Raised |
£10.3M (£10.1M) |
▲ 1.8% |
£4.8M (£5.4M) |
▼ 11.8% |
£5.5M (£4.7M) |
▲ 17.6% |
 South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,409 (1,399) |
▲ 0.7% |
1,268 (1,253) |
▲ 1.2% |
141 (146) |
▼ 3.4% |
| Lots Sold |
949 (896) |
▲ 5.9% |
860 (795) |
▲ 8.2% |
89 (101) |
▼ 11.9% |
| Percent Sold |
67.4% (64.0%) |
▲ 5.3% |
67.8% (63.4%) |
▲ 6.9% |
63.1% (69.2%) |
▼ 8.8% |
| Total Raised |
£226.8M (£204.2M) |
▲ 11.1% |
£191.5M (£164.6M) |
▲ 16.3% |
£35.3M (£39.6M) |
▼ 10.8% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
770 (735) |
▲ 4.8% |
652 (600) |
▲ 8.7% |
118 (135) |
▼ 12.6% |
| Lots Sold |
577 (553) |
▲ 4.3% |
489 (449) |
▲ 8.9% |
88 (104) |
▼ 15.4% |
| Percent Sold |
74.9% (75.2%) |
▼ 0.4% |
75.0% (74.8%) |
▲ 0.3% |
74.6% (77.0%) |
▼ 3.1% |
| Total Raised |
£126.5M (£104.3M) |
▲ 21.3% |
£105.0M (£79.3M) |
▲ 32.3% |
£21.6M (£25.0M) |
▼ 13.7% |
 Wales
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
579 (594) |
▼ 2.5% |
495 (509) |
▼ 2.8% |
84 (85) |
▼ 1.2% |
| Lots Sold |
361 (348) |
▲ 3.7% |
307 (306) |
▲ 0.3% |
54 (42) |
▲ 28.6% |
| Percent Sold |
62.3% (58.6%) |
▲ 6.3% |
62.0% (60.1%) |
▲ 3.2% |
64.3% (49.4%) |
▲ 30.2% |
| Total Raised |
£44.2M (£41.1M) |
▲ 7.6% |
£34.9M (£34.5M) |
▲ 1.3% |
£9.3M (£6.6M) |
▲ 40.6% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,095 (950) |
▲ 15.3% |
994 (846) |
▲ 17.5% |
101 (104) |
▼ 2.9% |
| Lots Sold |
836 (717) |
▲ 16.6% |
762 (639) |
▲ 19.2% |
74 (78) |
▼ 5.1% |
| Percent Sold |
76.3% (75.5%) |
▲ 1.1% |
76.7% (75.5%) |
▲ 1.6% |
73.3% (75.0%) |
▼ 2.3% |
| Total Raised |
£143.9M (£116.6M) |
▲ 23.4% |
£122.2M (£89.3M) |
▲ 36.9% |
£21.7M (£27.3M) |
▼ 20.7% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| August 2024 to October 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
796 (689) |
▲ 15.5% |
698 (623) |
▲ 12.0% |
98 (66) |
▲ 48.5% |
| Lots Sold |
605 (503) |
▲ 20.3% |
531 (460) |
▲ 15.4% |
74 (43) |
▲ 72.1% |
| Percent Sold |
76.0% (73.0%) |
▲ 4.1% |
76.1% (73.8%) |
▲ 3.1% |
75.5% (65.2%) |
▲ 15.8% |
| Total Raised |
£79.6M (£63.7M) |
▲ 25.1% |
£60.0M (£48.1M) |
▲ 24.9% |
£19.6M (£15.6M) |
▲ 25.8% |
Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.
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