Essential Auction News
The National Auction Analysis for September 2024 shows a strong resurgence in the UK property auction market as activity picks up following the summer break. Lots offered increased by 8.7% compared to last year, with 4,538 lots offered and 3,243 sold, a 9% rise. Total funds raised increased by 19.9% to £687.7 million, reflecting renewed market momentum. The residential sector performed particularly well, with a 9.3% increase in lots offered and a 24% jump in total raised, while the commercial sector showed slower growth.
Overall, the post-summer recovery has brought strong gains in key regions, particularly in London and the North-East, where heightened activity and rising values reflect robust demand. While some regions like Scotland continue to face challenges, the broader market outlook remains positive, especially as residential auctions drive much of the growth. As we move further into the year, this renewed momentum sets a promising tone for the months ahead.
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 September 2024 |
| Total Lots Offered |
4,538 |
| Total Lots Sold |
3,243 |
| Percent Sold |
71.5% |
| Total Realised |
£687,695,200 |
|
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National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
September 2024 |
July 2024 to September 2024 |
October 2023 to September 2024 |
| Lots Offered |
4,538 (4,176) |
▲ 8.7% |
10,361 (9,152) |
▲ 13.2% |
38,720 (35,549) |
▲ 8.9% |
| Lots Sold |
3,243 (2,975) |
▲ 9.0% |
7,379 (6,342) |
▲ 16.4% |
27,639 (24,673) |
▲ 12.0% |
| Percent Sold |
71.5% (71.2%) |
▲ 0.4% |
71.2% (69.3%) |
▲ 2.7% |
71.4% (69.4%) |
▲ 2.9% |
| Total Raised |
£687.7M (£573.7M) |
▲ 19.9% |
£1,461.1M (£1,170.9M) |
▲ 24.8% |
£5,364.3M (£4,648.0M) |
▲ 15.4% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
September 2024 |
July 2024 to September 2024 |
October 2023 to September 2024 |
| Lots Offered |
3,973 (3,635) |
▲ 9.3% |
9,123 (8,011) |
▲ 13.9% |
34,142 (31,274) |
▲ 9.2% |
| Lots Sold |
2,858 (2,597) |
▲ 10.1% |
6,523 (5,557) |
▲ 17.4% |
24,466 (21,649) |
▲ 13.0% |
| Percent Sold |
71.9% (71.4%) |
▲ 0.7% |
71.5% (69.4%) |
▲ 3.0% |
71.7% (69.2%) |
▲ 3.6% |
| Total Raised |
£551.0M (£444.2M) |
▲ 24.0% |
£1,170.9M (£905.8M) |
▲ 29.3% |
£4,233.9M (£3,638.3M) |
▲ 16.4% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
September 2024 |
July 2024 to September 2024 |
October 2023 to September 2024 |
| Lots Offered |
565 (541) |
▲ 4.4% |
1,238 (1,141) |
▲ 8.5% |
4,578 (4,275) |
▲ 7.1% |
| Lots Sold |
385 (378) |
▲ 1.9% |
856 (785) |
▲ 9.0% |
3,173 (3,024) |
▲ 4.9% |
| Percent Sold |
68.1% (69.9%) |
▼ 2.6% |
69.1% (68.8%) |
▲ 0.4% |
69.3% (70.7%) |
▼ 2.0% |
| Total Raised |
£136.7M (£129.4M) |
▲ 5.6% |
£290.2M (£265.0M) |
▲ 9.5% |
£1,130.4M (£1,009.7M) |
▲ 12.0% |
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)
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
427 (458) |
▼ 6.8% |
372 (408) |
▼ 8.8% |
55 (50) |
▲ 10.0% |
| Lots Sold |
304 (323) |
▼ 5.9% |
263 (290) |
▼ 9.3% |
41 (33) |
▲ 24.2% |
| Percent Sold |
71.2% (70.5%) |
▲ 1.0% |
70.7% (71.1%) |
▼ 0.6% |
74.5% (66.0%) |
▲ 12.9% |
| Total Raised |
£52.1M (£51.4M) |
▲ 1.3% |
£42.8M (£44.1M) |
▼ 3.1% |
£9.3M (£7.3M) |
▲ 28.2% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
829 (633) |
▲ 31.0% |
720 (558) |
▲ 29.0% |
109 (75) |
▲ 45.3% |
| Lots Sold |
604 (466) |
▲ 29.6% |
525 (407) |
▲ 29.0% |
79 (59) |
▲ 33.9% |
| Percent Sold |
72.9% (73.6%) |
▼ 1.0% |
72.9% (72.9%) |
▼ 0.0% |
72.5% (78.7%) |
▼ 7.9% |
| Total Raised |
£100.5M (£82.8M) |
▲ 21.4% |
£76.4M (£62.4M) |
▲ 22.4% |
£24.1M (£20.4M) |
▲ 18.1% |
 London
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
780 (677) |
▲ 15.2% |
703 (616) |
▲ 14.1% |
77 (61) |
▲ 26.2% |
| Lots Sold |
578 (479) |
▲ 20.7% |
517 (434) |
▲ 19.1% |
61 (45) |
▲ 35.6% |
| Percent Sold |
74.1% (70.8%) |
▲ 4.7% |
73.5% (70.5%) |
▲ 4.3% |
79.2% (73.8%) |
▲ 7.3% |
| Total Raised |
£287.7M (£188.6M) |
▲ 52.6% |
£239.1M (£155.8M) |
▲ 53.5% |
£48.6M (£32.8M) |
▲ 48.2% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
866 (535) |
▲ 61.9% |
833 (506) |
▲ 64.6% |
33 (29) |
▲ 13.8% |
| Lots Sold |
698 (399) |
▲ 74.9% |
672 (381) |
▲ 76.4% |
26 (18) |
▲ 44.4% |
| Percent Sold |
80.6% (74.6%) |
▲ 8.0% |
80.7% (75.3%) |
▲ 7.2% |
78.8% (62.1%) |
▲ 26.9% |
| Total Raised |
£51.2M (£32.0M) |
▲ 60.0% |
£43.3M (£27.6M) |
▲ 57.0% |
£7.9M (£4.4M) |
▲ 79.0% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,598 (1,378) |
▲ 16.0% |
1,425 (1,234) |
▲ 15.5% |
173 (144) |
▲ 20.1% |
| Lots Sold |
1,084 (958) |
▲ 13.2% |
982 (857) |
▲ 14.6% |
102 (101) |
▲ 1.0% |
| Percent Sold |
67.8% (69.5%) |
▼ 2.4% |
68.9% (69.4%) |
▼ 0.7% |
59.0% (70.1%) |
▼ 15.8% |
| Total Raised |
£144.0M (£108.6M) |
▲ 32.6% |
£118.4M (£89.4M) |
▲ 32.3% |
£25.7M (£19.2M) |
▲ 33.8% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
649 (620) |
▲ 4.7% |
559 (547) |
▲ 2.2% |
90 (73) |
▲ 23.3% |
| Lots Sold |
468 (440) |
▲ 6.4% |
408 (384) |
▲ 6.3% |
60 (56) |
▲ 7.1% |
| Percent Sold |
72.1% (71.0%) |
▲ 1.5% |
73.0% (70.2%) |
▲ 4.0% |
66.7% (76.7%) |
▼ 13.0% |
| Total Raised |
£139.5M (£112.2M) |
▲ 24.4% |
£114.9M (£85.6M) |
▲ 34.3% |
£24.6M (£26.6M) |
▼ 7.4% |
 Northern Ireland
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
49 (53) |
▼ 7.5% |
49 (49) |
▼ 0.0% |
0 (4) |
▼ 100.0% |
| Lots Sold |
26 (17) |
▲ 52.9% |
26 (17) |
▲ 52.9% |
0 (0) |
▼ n/a |
| Percent Sold |
53.1% (32.1%) |
▲ 65.4% |
53.1% (34.7%) |
▲ 53.0% |
0.0% (0.0%) |
▼ n/a |
| Total Raised |
£3.0M (£1.5M) |
▲ 100.0% |
£3.0M (£1.5M) |
▲ 100.0% |
£0.0M (£0.0M) |
▼ n/a |
 Scotland
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
293 (340) |
▼ 13.8% |
204 (245) |
▼ 16.7% |
89 (95) |
▼ 6.3% |
| Lots Sold |
100 (136) |
▼ 26.5% |
63 (111) |
▼ 43.2% |
37 (25) |
▲ 48.0% |
| Percent Sold |
34.1% (40.0%) |
▼ 14.8% |
30.9% (45.3%) |
▼ 31.8% |
41.6% (26.3%) |
▲ 58.2% |
| Total Raised |
£13.4M (£14.4M) |
▼ 7.3% |
£4.6M (£8.1M) |
▼ 42.8% |
£8.8M (£6.4M) |
▲ 37.5% |
 South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,548 (1,453) |
▲ 6.5% |
1,382 (1,272) |
▲ 8.6% |
166 (181) |
▼ 8.3% |
| Lots Sold |
1,078 (956) |
▲ 12.8% |
967 (831) |
▲ 16.4% |
111 (125) |
▼ 11.2% |
| Percent Sold |
69.6% (65.8%) |
▲ 5.8% |
70.0% (65.3%) |
▲ 7.2% |
66.9% (69.1%) |
▼ 3.2% |
| Total Raised |
£258.9M (£225.8M) |
▲ 14.7% |
£207.5M (£175.1M) |
▲ 18.5% |
£51.4M (£50.7M) |
▲ 1.4% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
860 (760) |
▲ 13.2% |
721 (619) |
▲ 16.5% |
139 (141) |
▼ 1.4% |
| Lots Sold |
660 (598) |
▲ 10.4% |
549 (480) |
▲ 14.4% |
111 (118) |
▼ 5.9% |
| Percent Sold |
76.7% (78.7%) |
▼ 2.5% |
76.1% (77.5%) |
▼ 1.8% |
79.9% (83.7%) |
▼ 4.5% |
| Total Raised |
£136.7M (£121.5M) |
▲ 12.5% |
£106.3M (£90.0M) |
▲ 18.1% |
£30.4M (£31.5M) |
▼ 3.6% |
 Wales
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
568 (569) |
▼ 0.2% |
468 (480) |
▼ 2.5% |
100 (89) |
▲ 12.4% |
| Lots Sold |
362 (347) |
▲ 4.3% |
295 (297) |
▼ 0.7% |
67 (50) |
▲ 34.0% |
| Percent Sold |
63.7% (61.0%) |
▲ 4.4% |
63.0% (61.9%) |
▲ 1.8% |
67.0% (56.2%) |
▲ 19.2% |
| Total Raised |
£45.1M (£41.8M) |
▲ 7.9% |
£34.9M (£32.8M) |
▲ 6.3% |
£10.2M (£9.0M) |
▲ 13.5% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,104 (1,023) |
▲ 7.9% |
997 (897) |
▲ 11.1% |
107 (126) |
▼ 15.1% |
| Lots Sold |
845 (753) |
▲ 12.2% |
764 (655) |
▲ 16.6% |
81 (98) |
▼ 17.3% |
| Percent Sold |
76.5% (73.6%) |
▲ 3.9% |
76.6% (73.0%) |
▲ 4.9% |
75.7% (77.8%) |
▼ 2.7% |
| Total Raised |
£146.8M (£120.8M) |
▲ 21.4% |
£123.0M (£92.1M) |
▲ 33.6% |
£23.7M (£28.8M) |
▼ 17.6% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| July 2024 to September 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
790 (653) |
▲ 21.0% |
690 (580) |
▲ 19.0% |
100 (73) |
▲ 37.0% |
| Lots Sold |
572 (470) |
▲ 21.7% |
492 (413) |
▲ 19.1% |
80 (57) |
▲ 40.4% |
| Percent Sold |
72.4% (72.0%) |
▲ 0.6% |
71.3% (71.2%) |
▲ 0.1% |
80.0% (78.1%) |
▲ 2.4% |
| Total Raised |
£82.2M (£69.4M) |
▲ 18.4% |
£56.7M (£41.4M) |
▲ 36.8% |
£25.6M (£28.0M) |
▼ 8.8% |
Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.
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