Property Auction Newsletter September 2011

Essential Auction News

Welcome to the September newsletter giving an overview of August's results and preceding periods. Once again the overall signs are positive, with August being the fifth month in a row that has shown increases in 'Lots Sold', 'Percent Sold' and 'Amount Raised' when viewing the month on month comparisons.

However it should be borne in mind that August is a quiet month in the auction calendar, with only 47 auctions held as opposed to the average of 120. However recent trends show that August's figures are indicative of how the auction market is faring.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk
01737 232 289

National Auction Analysis

Increases can be seen across the board, with only the commercial year-on-year comparisons showing small percentage reductions. Overall 'Lots Offered' rose by nearly 24% to 560, and with the percentage of lots selling also increasing the result is that the 'Amount Raised' jumped by over 45% to £41.5M.

As August is a comparatively quiet month it is worthwhile looking to the rolling quarterly and yearly figures for a longer-term indication of the market. The signs are good - notable increases are evident in the quarterly 'Amounts Raised' in both the residential sector (up 10% to £492M) and the commercial sector (up 22% to £236M). You'll also note that year-on-year residential sales are up by nearly 12% which contrasts the recent declines in sales recorded at Land Registry, as can be seen on the graph below. In each of the past 3 quarters a decrease in the number of residential transactions is evident (when compared with the previous corresponding quarter), so it is encouraging to see the positive figures continuing in the auction market.

Residential Sales recorded at the Land Registry

Total

	Last Month			Last Quarter			Last Year
	August 2011	August 2010	Increase	June 2011 - August 2011	June 2010 - August 2010	Increase	September 2010 - August 2011	September 2009 - August 2010	Increase
Lots Offered	560	452	23.9%	7,012	6,832	2.6%	32,455	30,103	7.8%
Lots Sold	428	264	62.1%	5,116	4,411	16.0%	23,200	21,300	8.9%
Percent Sold	76.4%	58.4%	30.8%	73%	64.6%	13.0%	71.5%	70.8%	1.0%
Total Raised	£41,511,608	£28,491,588	45.7%	£729,693,800	£642,592,920	13.6%	£3,374,437,721	£3,348,883,811	0.8%

Residential

	Last Month			Last Quarter			Last Year
	August 2011	August 2010	Increase	June 2011 - August 2011	June 2010 - August 2010	Increase	September 2010 - August 2011	September 2009 - August 2010	Increase
Lots Offered	449	349	28.7%	5,573	5,415	2.9%	26,250	23,888	9.9%
Lots Sold	352	203	73.4%	4,085	3,447	18.5%	18,724	16,751	11.8%
Percent Sold	78.4%	58.2%	34.7%	73.3%	63.7%	15.1%	71.3%	70.1%	1.7%
Total Raised	£32,277,758	£20,768,588	55.4%	£492,887,004	£448,893,301	9.8%	£2,288,708,308	£2,210,360,267	3.5%

Commercial

	Last Month			Last Quarter			Last Year
	August 2011	August 2010	Increase	June 2011 - August 2011	June 2010 - August 2010	Increase	September 2010 - August 2011	September 2009 - August 2010	Increase
Lots Offered	106	98	8.2%	1,438	1,417	1.5%	6,205	6,212	-0.1%
Lots Sold	73	58	25.9%	1,031	964	7.0%	4,476	4,549	-1.6%
Percent Sold	68.9%	59.2%	16.4%	71.7%	68%	5.4%	72.1%	73.2%	-1.5%
Total Raised	£8,870,850	£7,581,500	17.0%	£236,806,796	£193,699,619	22.3%	£1,085,729,413	£1,138,523,544	-4.6%

Regional Auction Analysis

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

East Anglia

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	206	236	-12.7%
Lots Sold	155	151	2.6%
Percent Sold	75.2%	64%	17.5%
Total Raised	£18,965,745	£18,393,377	3.1%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	156	174	-10.3%
Lots Sold	116	108	7.4%
Percent Sold	74.4%	62.1%	19.8%
Total Raised	£12,935,745	£11,787,877	9.7%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	50	62	-19.4%
Lots Sold	39	43	-9.3%
Percent Sold	78%	69.4%	12.4%
Total Raised	£6,030,000	£6,605,500	-8.7%

East Midlands

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	509	504	1.0%
Lots Sold	373	355	5.1%
Percent Sold	73.3%	70.4%	4.1%
Total Raised	£38,886,540	£33,870,063	14.8%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	413	390	5.9%
Lots Sold	309	270	14.4%
Percent Sold	74.8%	69.2%	8.1%
Total Raised	£27,928,790	£22,687,358	23.1%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	96	114	-15.8%
Lots Sold	64	85	-24.7%
Percent Sold	66.7%	74.6%	-10.6%
Total Raised	£10,957,750	£11,182,705	-2.0%

London

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	627	684	-8.3%
Lots Sold	501	516	-2.9%
Percent Sold	79.9%	75.4%	6.0%
Total Raised	£154,940,370	£167,741,350	-7.6%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	553	570	-3.0%
Lots Sold	436	436	0.0%
Percent Sold	78.8%	76.5%	3.0%
Total Raised	£116,232,870	£121,653,850	-4.5%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	74	114	-35.1%
Lots Sold	65	80	-18.8%
Percent Sold	87.8%	70.2%	25.1%
Total Raised	£38,707,500	£46,087,500	-16.0%

North-East

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	672	618	8.7%
Lots Sold	479	272	76.1%
Percent Sold	71.3%	44%	62.0%
Total Raised	£37,911,406	£21,424,264	77.0%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	613	560	9.5%
Lots Sold	442	246	79.7%
Percent Sold	72.1%	43.9%	64.2%
Total Raised	£34,624,806	£18,555,564	86.6%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	59	58	1.7%
Lots Sold	37	26	42.3%
Percent Sold	62.7%	44.8%	40.0%
Total Raised	£3,286,600	£2,868,700	14.6%

North-West

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	1,292	1,121	15.3%
Lots Sold	923	692	33.4%
Percent Sold	71.4%	61.7%	15.7%
Total Raised	£89,749,996	£66,645,252	34.7%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	968	862	12.3%
Lots Sold	693	522	32.8%
Percent Sold	71.6%	60.6%	18.2%
Total Raised	£56,509,550	£43,008,902	31.4%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	324	259	25.1%
Lots Sold	230	170	35.3%
Percent Sold	71%	65.6%	8.2%
Total Raised	£33,240,446	£23,636,350	40.6%

North-West Home Counties

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	296	316	-6.3%
Lots Sold	226	237	-4.6%
Percent Sold	76.4%	75%	1.9%
Total Raised	£54,559,450	£53,604,750	1.8%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	231	249	-7.2%
Lots Sold	187	184	1.6%
Percent Sold	81%	73.9%	9.6%
Total Raised	£35,516,950	£39,638,500	-10.4%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	65	67	-3.0%
Lots Sold	39	53	-26.4%
Percent Sold	60%	79.1%	-24.1%
Total Raised	£19,042,500	£13,966,250	36.3%

Scotland

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	114	174	-34.5%
Lots Sold	63	83	-24.1%
Percent Sold	55.3%	47.7%	15.9%
Total Raised	£5,745,450	£14,152,200	-59.4%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	90	120	-25.0%
Lots Sold	48	52	-7.7%
Percent Sold	53.3%	43.3%	23.1%
Total Raised	£2,015,700	£2,829,050	-28.7%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	24	54	-55.6%
Lots Sold	15	31	-51.6%
Percent Sold	62.5%	57.4%	8.9%
Total Raised	£3,729,750	£11,323,150	-67.1%

South-East Home Counties

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	866	894	-3.1%
Lots Sold	654	637	2.7%
Percent Sold	75.5%	71.3%	5.9%
Total Raised	£107,714,901	£107,386,751	0.3%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	661	722	-8.4%
Lots Sold	502	513	-2.1%
Percent Sold	75.9%	71.1%	6.8%
Total Raised	£75,577,851	£77,899,251	-3.0%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	205	172	19.2%
Lots Sold	152	124	22.6%
Percent Sold	74.1%	72.1%	2.8%
Total Raised	£32,137,050	£29,487,500	9.0%

South-West

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	576	526	9.5%
Lots Sold	415	352	17.9%
Percent Sold	72%	66.9%	7.6%
Total Raised	£88,584,100	£54,972,350	61.1%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	422	388	8.8%
Lots Sold	299	245	22.0%
Percent Sold	70.9%	63.1%	12.4%
Total Raised	£41,213,900	£38,314,600	7.6%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	154	138	11.6%
Lots Sold	116	107	8.4%
Percent Sold	75.3%	77.5%	-2.8%
Total Raised	£47,370,200	£16,657,750	184.4%

Wales

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	517	453	14.1%
Lots Sold	371	324	14.5%
Percent Sold	71.8%	71.5%	0.4%
Total Raised	£30,626,850	£23,953,900	27.9%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	394	354	11.3%
Lots Sold	286	259	10.4%
Percent Sold	72.6%	73.2%	-0.8%
Total Raised	£20,592,350	£17,849,600	15.4%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	123	99	24.2%
Lots Sold	85	65	30.8%
Percent Sold	69.1%	65.7%	5.2%
Total Raised	£10,034,500	£6,104,300	64.4%

West Midlands

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	584	716	-18.4%
Lots Sold	429	433	-0.9%
Percent Sold	73.5%	60.5%	21.5%
Total Raised	£54,641,850	£48,506,614	12.6%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	440	561	-21.6%
Lots Sold	320	335	-4.5%
Percent Sold	72.7%	59.7%	21.8%
Total Raised	£34,036,500	£32,241,800	5.6%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	144	155	-7.1%
Lots Sold	109	98	11.2%
Percent Sold	75.7%	63.2%	19.8%
Total Raised	£20,605,350	£16,264,814	26.7%

Yorkshire and The Humber

Total
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	715	584	22.4%
Lots Sold	501	356	40.7%
Percent Sold	70.1%	61%	14.9%
Total Raised	£45,828,742	£31,844,049	43.9%

Residential
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	595	459	29.6%
Lots Sold	421	274	53.6%
Percent Sold	70.8%	59.7%	18.6%
Total Raised	£34,163,592	£22,328,949	53.0%

Commercial
	June 2011 - August 2011	June 2010 - August 2010	Increase
Lots Offered	120	125	-4.0%
Lots Sold	80	82	-2.4%
Percent Sold	66.7%	65.6%	1.7%
Total Raised	£11,665,150	£9,515,100	22.6%

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