Essential Information Group

Monthly News Update

March 2007




David Sandeman, Managing Director Welcome to the March newsletter that looks at auction activity in February. As you will see it has been another very busy month with the trend we have seen over the past 3 years continuing.

Several subscribers have requested for a copy of this newsletter to be sent directly to one of their colleagues If you have a colleague you would like to receive a copy simply let me have their details here.

Kind regards

David Sandeman
Managing Director
davids@eigroup.co.uk
Essential Auction News
111 property auctions were held throughout the UK in February 2007. We will compare these results to those of February 2006. There is also a regional breakdown of statistics. 		 
Overall Statistics February 2007
Number of Auctions Held in the UK 111
Total Lots Offered 4,412
Total Lots Sold 3,430
Percent Sold 78%
Total Realised £821,576,742

National Auction Analysis
As we mentioned last month, 2007 has got off to a flying start. Both lots offered and amount raised for the month of February is up 23% on February 2006 and double digit increases are seen when comparing the previous quarters and years. Indeed the amount raised for the rolling year March 06 to February 07 almost breaches the £6 Billion mark, up 28.5% on the previous year.

  Last Month Last Quarter Last Year
  February 2007 February 2006 Increase December 2006 - February 2007 December 2005 - February 2006 Increase March 2006 - February 2007 March 2005 - February 2006 Increase
Lots Offered 4,412 3,565 23.8% 8,181 7,040 16.2% 35,058 31,164 12.5%
Lots Sold 3,430 2,927 17.2% 6,287 5,525 13.8% 27,104 22,873 18.5%
Total Raised £821,576,742 £663,093,364 23.9% £1,501,093,539 £1,287,963,641 16.5% £5,945,337,559 £4,626,748,328 28.5%

Regional Auction Analysis
With big increases in volumes nationally, it comes as no surprise that the trend was reflected through the regions. Notably, the number of lots offered and sold in the East Midlands was up around 80% but amount raised only up 4.5% indicating a smaller lot size. Whereas the converse was true for Yorkshire and The Humber. It should be remembered however that these figures are for one month only and a longer period would iron out any anomalies.

Location Map Lots Offered Lots Sold Total Raised
  February 2007 February 2006 Increase February 2007 February 2006 Increase February 2007 February 2006 Increase
East Anglia 123 85 44.7% 87 71 22.5% £21,768,200 £14,773,500 47.3%
East Midlands 296 168 76.2% 232 128 81.3% £36,725,600 £35,157,645 4.5%
London 611 640 -4.5% 546 557 -2.0% £218,911,095 £167,438,450 30.7%
North-East 202 201 0.5% 99 126 -21.4% £18,893,250 £15,856,794 19.1%
North-West 894 578 54.7% 644 458 40.6% £84,033,952 £69,609,250 20.7%
North-West Home Counties 268 233 15.0% 214 202 5.9% £90,900,950 £71,722,000 26.7%
Northern Ireland 2 5 -60.0% 2 5 -60.0% £1,421,000 £584,000 143.3%
Scotland 120 60 100.0% 99 49 102.0% £17,377,600 £9,179,500 89.3%
South-East Home Counties 714 636 12.3% 563 537 4.8% £126,875,145 £131,698,475 -3.7%
South-West 214 175 22.3% 188 153 22.9% £58,575,400 £43,513,250 34.6%
Wales 274 251 9.2% 210 191 9.9% £26,561,350 £31,515,650 -15.7%
West Midlands 308 245 25.7% 251 202 24.3% £48,195,650 £33,362,900 44.5%
Yorkshire and The Humber 386 288 34.0% 295 248 19.0% £71,337,550 £38,681,950 84.4%

Other News
RAPIDThe 9th March saw the launch of RAPID (Residential Auction Property Investment Data). This is a joint initiative between Essential Information Group and Allsop to analyse the residential investment market at Auctions. It will be a bi-annual report and the first paper reviewed the performance of AST's at auction.

The full report can be found by clicking on this link.

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