Essential Information Group November Auction Market Comment

Our dear friend David Sandeman at EIG has all the stats at his fingertips for each sale at Auction in the UK and he has some interesting observations on November’s trading.

Whilst the media are reporting a decline in the number of house sales, last month saw a 10.4% overall increase in lots sold at auction very close to the rolling year increase of 9.6%. In addition the residential increase for the rolling year has been 10.1%. The overall percentage sold was 63.9% which was down from the rolling year average of 73.2%, but up on October 2010 which was 59.1%. The gradual improvement in the results that we have seen for the majority of months this year continues.

As we have said before at makeoffer there is no point reinventing the wheel so we are delighted to present David’s analysis below for you to digest and use to your benefit.

We are sure that you are used to seeing much of EIG’s information as may auction houses in the UK use his services.

National Auction Analysis

Overall the amount raised was up 28%, though as the tables below show this was largely due to a 174% increase in the value of commercial lots sold. Having noted that, the lots sold, percentage sold and amount raised for three periods in all three tables show an increase when compared with the same periods last year. A steady and continuing trend.

Total

	Last Month			Last Quarter			Last Year
	November 2011	November 2010	Increase	September 2011 – November 2011	September 2010 – November 2010	Increase	December 2010 – November 2011	December 2009 – November 2010	Increase
Lots Offered	2,164	2,120	2.1%	9,751	9,747	0.0%	32,478	31,474	3.2%
Lots Sold	1,382	1,252	10.4%	6,971	6,341	9.9%	23,764	21,678	9.6%
Percent Sold	63.9%	59.1%	8.1%	71.5%	65.1%	9.8%	73.2%	68.9%	6.2%
Total Raised	£166,538,266	£129,554,068	28.5%	£931,234,941	£845,756,484	10.1%	£3,426,988,770	£3,305,665,931	3.7%

Residential

	Last Month			Last Quarter			Last Year
	November 2011	November 2010	Increase	September 2011 – November 2011	September 2010 – November 2010	Increase	December 2010 – November 2011	December 2009 – November 2010	Increase
Lots Offered	1,718	1,838	-6.5%	7,670	8,019	-4.4%	25,935	25,142	3.2%
Lots Sold	1,098	1,078	1.9%	5,505	5,201	5.8%	18,970	17,234	10.1%
Percent Sold	63.9%	58.7%	8.9%	71.8%	64.9%	10.6%	73.1%	68.5%	6.7%
Total Raised	£113,617,355	£110,302,918	3.0%	£638,589,575	£626,946,934	1.9%	£2,278,828,291	£2,197,544,887	3.7%

Commercial

	Last Month			Last Quarter			Last Year
	November 2011	November 2010	Increase	September 2011 – November 2011	September 2010 – November 2010	Increase	December 2010 – November 2011	December 2009 – November 2010	Increase
Lots Offered	440	282	56.0%	2,054	1,728	18.9%	6,543	6,329	3.4%
Lots Sold	284	174	63.2%	1,453	1,140	27.5%	4,794	4,444	7.9%
Percent Sold	64.5%	61.7%	4.5%	70.7%	66%	7.1%	73.3%	70.2%	4.4%
Total Raised	£52,920,911	£19,251,150	174.9%	£291,706,866	£218,809,550	33.3%	£1,148,160,479	£1,108,121,044	3.6%

Regional Auction Analysis

As is usually the case, variations across all the measurable parameters can be seen across the regions.

East Anglia

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	264	282	-6.4%
Lots Sold	208	202	3.0%
Percent Sold	78.8%	71.6%	10.1%
Total Raised	£31,093,500	£27,189,950	14.4%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	189	233	-18.9%
Lots Sold	152	166	-8.4%
Percent Sold	80.4%	71.2%	12.9%
Total Raised	£21,630,500	£18,242,250	18.6%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	75	49	53.1%
Lots Sold	56	36	55.6%
Percent Sold	74.7%	73.5%	1.6%
Total Raised	£9,463,000	£8,947,700	5.8%

East Midlands

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	766	789	-2.9%
Lots Sold	574	536	7.1%
Percent Sold	74.9%	67.9%	10.3%
Total Raised	£64,922,612	£53,869,070	20.5%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	564	643	-12.3%
Lots Sold	426	442	-3.6%
Percent Sold	75.5%	68.7%	9.9%
Total Raised	£38,024,062	£40,826,320	-6.9%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	202	146	38.4%
Lots Sold	148	94	57.4%
Percent Sold	73.3%	64.4%	13.8%
Total Raised	£26,898,550	£13,042,750	106.2%

London

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	807	985	-18.1%
Lots Sold	631	722	-12.6%
Percent Sold	78.2%	73.3%	6.7%
Total Raised	£184,151,175	£235,173,800	-21.7%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	708	858	-17.5%
Lots Sold	554	626	-11.5%
Percent Sold	78.2%	73%	7.1%
Total Raised	£140,605,075	£182,761,750	-23.1%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	99	127	-22.0%
Lots Sold	77	96	-19.8%
Percent Sold	77.8%	75.6%	2.9%
Total Raised	£43,546,100	£52,412,050	-16.9%

North-East

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	654	830	-21.2%
Lots Sold	476	405	17.5%
Percent Sold	72.8%	48.8%	49.2%
Total Raised	£37,960,361	£32,471,002	16.9%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	589	775	-24.0%
Lots Sold	432	379	14.0%
Percent Sold	73.3%	48.9%	49.9%
Total Raised	£31,232,061	£27,015,502	15.6%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	65	55	18.2%
Lots Sold	44	26	69.2%
Percent Sold	67.7%	47.3%	43.1%
Total Raised	£6,728,300	£5,455,500	23.3%

North-West

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	1,644	1,571	4.6%
Lots Sold	1,137	989	15.0%
Percent Sold	69.2%	63%	9.8%
Total Raised	£99,700,101	£93,178,694	7.0%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	1,262	1,196	5.5%
Lots Sold	878	761	15.4%
Percent Sold	69.6%	63.6%	9.4%
Total Raised	£63,795,835	£63,569,744	0.4%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	382	375	1.9%
Lots Sold	259	228	13.6%
Percent Sold	67.8%	60.8%	11.5%
Total Raised	£35,904,266	£29,608,950	21.3%

North-West Home Counties

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	407	402	1.2%
Lots Sold	310	286	8.4%
Percent Sold	76.2%	71.1%	7.2%
Total Raised	£72,374,995	£55,166,150	31.2%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	322	329	-2.1%
Lots Sold	251	238	5.5%
Percent Sold	78%	72.3%	7.9%
Total Raised	£45,375,495	£40,158,650	13.0%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	85	73	16.4%
Lots Sold	59	48	22.9%
Percent Sold	69.4%	65.8%	5.5%
Total Raised	£26,999,500	£15,007,500	79.9%

Scotland

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	240	236	1.7%
Lots Sold	101	138	-26.8%
Percent Sold	42.1%	58.5%	-28.0%
Total Raised	£7,874,866	£9,578,275	-17.8%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	164	195	-15.9%
Lots Sold	69	115	-40.0%
Percent Sold	42.1%	59%	-28.6%
Total Raised	£3,346,366	£6,775,175	-50.6%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	76	41	85.4%
Lots Sold	32	23	39.1%
Percent Sold	42.1%	56.1%	-25.0%
Total Raised	£4,528,500	£2,803,100	61.6%

South-East Home Counties

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	1,038	1,086	-4.4%
Lots Sold	780	766	1.8%
Percent Sold	75.1%	70.5%	6.5%
Total Raised	£137,751,379	£116,566,745	18.2%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	803	868	-7.5%
Lots Sold	606	622	-2.6%
Percent Sold	75.5%	71.7%	5.3%
Total Raised	£88,697,129	£84,925,945	4.4%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	235	218	7.8%
Lots Sold	174	144	20.8%
Percent Sold	74%	66.1%	12.0%
Total Raised	£49,054,250	£31,640,800	55.0%

South-West

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	928	775	19.7%
Lots Sold	635	507	25.2%
Percent Sold	68.4%	65.4%	4.6%
Total Raised	£92,390,901	£66,084,300	39.8%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	663	591	12.2%
Lots Sold	431	361	19.4%
Percent Sold	65%	61.1%	6.4%
Total Raised	£59,302,901	£45,874,250	29.3%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	265	184	44.0%
Lots Sold	204	146	39.7%
Percent Sold	77%	79.3%	-2.9%
Total Raised	£33,088,000	£20,210,050	63.7%

Wales

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	673	794	-15.2%
Lots Sold	470	504	-6.7%
Percent Sold	69.8%	63.5%	9.9%
Total Raised	£36,812,996	£39,224,756	-6.1%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	525	631	-16.8%
Lots Sold	370	398	-7.0%
Percent Sold	70.5%	63.1%	11.7%
Total Raised	£28,103,846	£26,403,206	6.4%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	148	163	-9.2%
Lots Sold	100	106	-5.7%
Percent Sold	67.6%	65%	4.0%
Total Raised	£8,709,150	£12,821,550	-32.1%

West Midlands

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	1,061	919	15.5%
Lots Sold	793	569	39.4%
Percent Sold	74.7%	61.9%	20.7%
Total Raised	£90,664,000	£57,246,546	58.4%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	795	763	4.2%
Lots Sold	600	473	26.8%
Percent Sold	75.5%	62%	21.8%
Total Raised	£58,938,500	£42,403,996	39.0%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	266	156	70.5%
Lots Sold	193	96	101.0%
Percent Sold	72.6%	61.5%	18.0%
Total Raised	£31,725,500	£14,842,550	113.7%

Yorkshire and The Humber

Total
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	1,086	934	16.3%
Lots Sold	771	663	16.3%
Percent Sold	71%	71%	0.0%
Total Raised	£69,287,055	£57,233,446	21.1%

Residential
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	930	793	17.3%
Lots Sold	664	566	17.3%
Percent Sold	71.4%	71.4%	0.0%
Total Raised	£54,225,305	£45,216,396	19.9%

Commercial
	September 2011 – November 2011	September 2010 – November 2010	Increase
Lots Offered	156	141	10.6%
Lots Sold	107	97	10.3%
Percent Sold	68.6%	68.8%	-0.3%
Total Raised	£15,061,750	£12,017,050	25.3%

Tags: makeoffer.co.uk, Property, Property Auctions, Property Market Comment, UK Property Market

This entry was posted on Wednesday, December 21st, 2011 at 5:55 pm and is filed under Auction Results, News, Property Market Comment. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.