Essential Auction News
|
Welcome to the last newsletter of 2008 covering auction activity in November, and the relevant quarterly and yearly periods.
Whilst the RICS have reported that sales via estate agents are down 50% when comparing November 2008 with November 2007, the number of residential lots sold in November 2008 when compared with November 2007 went up 40%. It must be noted that there were some major residential sales in that month that have contributed to this rise, but clearly, this shows that the auction transaction market is performing well.
This is further evidenced by the overall sale rate increasing for the 4th consecutive month to 67% and eclipsing the rate for November 2007 of 63%.
May I take this opportunity on behalf of myself and the staff at EiG of wishing all our clients a happy and relaxing break and a more prosperous new year.
Kind regards
David Sandeman
Managing Director
davids@eigroup.co.uk
|
National Auction Analysis
Looking at both monthly totals and residential figures for November, we see an increase in lots offered, lots sold and percentage sold, with only the amount raised declining, though not so marked as in previous months.
It is significant that for the first time since the beginning of the credit crunch that the overall monthly sale rate has been higher than that of 12 months previous. Hopefully this is an indication of a coming together of the vendors and purchasers expectations over the reserve level.
Total
| |
Last Month |
Last Quarter |
Last Year |
|
November 2008 |
November 2007 |
Increase |
September - November 2008
|
September - November 2007
|
Increase |
December 2007 - November 2008 |
December 2006 - November 2007 |
Increase |
| Lots Offered |
3,078 |
2,558 |
20.3% |
10,798 |
10,633 |
1.6% |
38,164 |
37,746 |
1.1% |
| Lots Sold |
2,074 |
1,622 |
27.9% |
6,923 |
7,105 |
-2.6% |
24,201 |
27,562 |
-12.2% |
| Percent Sold |
67% |
63% |
6.3% |
64% |
67% |
-4.1% |
63% |
73% |
-13.2% |
| Total Raised |
£210,113,240 |
£305,148,093 |
-31.1% |
£850,754,147 |
£1,468,456,169 |
-42.1% |
£4,027,790,545 |
£6,136,555,255 |
-34.4% |
Residential
| |
Last Month |
Last Quarter |
Last Year |
|
November 2008 |
November 2007 |
Increase |
September - November 2008
|
September - November 2007
|
Increase |
December 2007 - November 2008 |
December 2006 - November 2007 |
Increase |
| Lots Offered |
2,726 |
2,128 |
28.1% |
9,109 |
8,553 |
6.5% |
31,281 |
30,084 |
4.0% |
| Lots Sold |
1,838 |
1,312 |
40.1% |
5,799 |
5,584 |
3.9% |
19,412 |
21,620 |
-10.2% |
| Percent Sold |
67% |
62% |
9.4% |
64% |
65% |
-2.5% |
62% |
72% |
-13.6% |
| Total Raised |
£186,117,640 |
£217,327,698 |
-14.4% |
£662,291,697 |
£945,571,374 |
-30.0% |
£2,694,465,811 |
£3,687,135,483 |
-26.9% |
Commercial
| |
Last Month |
Last Quarter |
Last Year |
|
November 2008 |
November 2007 |
Increase |
September - November 2008
|
September - November 2007
|
Increase |
December 2007 - November 2008 |
December 2006 - November 2007 |
Increase |
| Lots Offered |
352 |
430 |
-18.1% |
1,689 |
2,071 |
-18.4% |
6,883 |
7,619 |
-9.7% |
| Lots Sold |
236 |
310 |
-23.9% |
1,124 |
1,513 |
-25.7% |
4,789 |
5,910 |
-19.0% |
| Percent Sold |
67% |
72% |
-7.0% |
67% |
73% |
-8.9% |
70% |
78% |
-10.3% |
| Total Raised |
£23,995,600 |
£87,820,395 |
-72.7% |
£188,462,450 |
£516,469,795 |
-63.5% |
£1,333,324,734 |
£2,413,133,772 |
-44.7% |
Regional Auction Analysis
Generally an improvement is seen in all the regional figures though as always there are regional variations.
East Anglia
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
396 |
247 |
60.3% |
| Lots Sold |
258 |
184 |
40.2% |
| Percent Sold |
65.2% |
74.5% |
-12.5% |
| Total Raised |
£31,920,725 |
£45,005,300 |
-29.1% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
340 |
186 |
82.8% |
| Lots Sold |
219 |
135 |
62.2% |
| Percent Sold |
64.4% |
72.6% |
-11.3% |
| Total Raised |
£26,712,725 |
£23,391,300 |
14.2% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
56 |
61 |
-8.2% |
| Lots Sold |
39 |
49 |
-20.4% |
| Percent Sold |
69.6% |
80.3% |
-13.3% |
| Total Raised |
£5,208,000 |
£21,614,000 |
-75.9% |
East Midlands
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
1008 |
936 |
7.7% |
| Lots Sold |
671 |
628 |
6.8% |
| Percent Sold |
66.6% |
67.1% |
-0.8% |
| Total Raised |
£80,567,110 |
£98,948,800 |
-18.6% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
855 |
755 |
13.2% |
| Lots Sold |
559 |
498 |
12.2% |
| Percent Sold |
65.4% |
66.0% |
-0.9% |
| Total Raised |
£63,556,960 |
£65,785,050 |
-3.4% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
153 |
181 |
-15.5% |
| Lots Sold |
112 |
130 |
-13.8% |
| Percent Sold |
73.2% |
71.8% |
1.9% |
| Total Raised |
£17,010,150 |
£33,163,750 |
-48.7% |
London
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
1004 |
1065 |
-5.7% |
| Lots Sold |
715 |
807 |
-11.4% |
| Percent Sold |
71.2% |
75.8% |
-6.0% |
| Total Raised |
£152,405,955 |
£297,455,000 |
-48.8% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
927 |
920 |
0.8% |
| Lots Sold |
657 |
690 |
-4.8% |
| Percent Sold |
70.9% |
75.0% |
-5.5% |
| Total Raised |
£127,126,205 |
£211,891,400 |
-40.0% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
77 |
145 |
-46.9% |
| Lots Sold |
58 |
117 |
-50.4% |
| Percent Sold |
75.3% |
80.7% |
-6.6% |
| Total Raised |
£25,279,750 |
£85,563,600 |
-70.5% |
North-East
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
714 |
664 |
7.5% |
| Lots Sold |
325 |
291 |
11.7% |
| Percent Sold |
45.5% |
43.8% |
3.9% |
| Total Raised |
£28,491,225 |
£40,394,661 |
-29.5% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
678 |
591 |
14.7% |
| Lots Sold |
311 |
252 |
23.4% |
| Percent Sold |
45.9% |
42.6% |
7.6% |
| Total Raised |
£25,399,525 |
£25,576,166 |
-0.7% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
36 |
73 |
-50.7% |
| Lots Sold |
14 |
39 |
-64.1% |
| Percent Sold |
38.9% |
53.4% |
-27.2% |
| Total Raised |
£3,091,700 |
£14,818,495 |
-79.1% |
North-West
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
1752 |
1779 |
-1.5% |
| Lots Sold |
1064 |
1037 |
2.6% |
| Percent Sold |
60.7% |
58.3% |
4.2% |
| Total Raised |
£96,857,650 |
£170,862,550 |
-43.3% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
1440 |
1457 |
-1.2% |
| Lots Sold |
877 |
824 |
6.4% |
| Percent Sold |
60.9% |
56.6% |
7.7% |
| Total Raised |
£71,650,300 |
£112,043,950 |
-36.1% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
312 |
322 |
-3.1% |
| Lots Sold |
187 |
213 |
-12.2% |
| Percent Sold |
59.9% |
66.1% |
-9.4% |
| Total Raised |
£25,207,350 |
£58,818,600 |
-57.1% |
North-West Home Counties
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
502 |
525 |
-4.4% |
| Lots Sold |
358 |
390 |
-8.2% |
| Percent Sold |
71.3% |
74.3% |
-4.0% |
| Total Raised |
£66,221,650 |
£121,685,550 |
-45.6% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
422 |
395 |
6.8% |
| Lots Sold |
305 |
298 |
2.3% |
| Percent Sold |
72.3% |
75.4% |
-4.2% |
| Total Raised |
£47,441,750 |
£73,443,050 |
-35.4% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
80 |
130 |
-38.5% |
| Lots Sold |
53 |
92 |
-42.4% |
| Percent Sold |
66.3% |
70.8% |
-6.4% |
| Total Raised |
£18,779,900 |
£48,242,500 |
-61.1% |
Northern Ireland
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
11 |
23 |
-52.2% |
| Lots Sold |
11 |
15 |
-26.7% |
| Percent Sold |
100.0% |
65.2% |
53.3% |
| Total Raised |
£1,054,250 |
£11,092,500 |
-90.5% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
11 |
14 |
-21.4% |
| Lots Sold |
11 |
7 |
57.1% |
| Percent Sold |
100.0% |
50.0% |
100.0% |
| Total Raised |
£1,054,250 |
£4,677,500 |
-77.5% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
0 |
9 |
-100.0% |
| Lots Sold |
0 |
8 |
-100.0% |
| Percent Sold |
0.0% |
88.9% |
0.0% |
| Total Raised |
£0 |
£6,415,000 |
-100.0% |
Scotland
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
291 |
228 |
27.6% |
| Lots Sold |
184 |
177 |
4.0% |
| Percent Sold |
63.2% |
77.6% |
-18.6% |
| Total Raised |
£10,158,522 |
£29,516,650 |
-65.6% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
209 |
130 |
60.8% |
| Lots Sold |
122 |
92 |
32.6% |
| Percent Sold |
58.4% |
70.8% |
-17.5% |
| Total Raised |
£9,125,772 |
£5,926,550 |
54.0% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
82 |
98 |
-16.3% |
| Lots Sold |
62 |
85 |
-27.1% |
| Percent Sold |
75.6% |
86.7% |
-12.8% |
| Total Raised |
£1,032,750 |
£23,590,100 |
-95.6% |
South-East Home Counties
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
1320 |
1403 |
-5.9% |
| Lots Sold |
952 |
1028 |
-7.4% |
| Percent Sold |
72.1% |
73.3% |
-1.6% |
| Total Raised |
£136,999,450 |
£227,926,101 |
-39.9% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
1097 |
1135 |
-3.3% |
| Lots Sold |
790 |
832 |
-5.0% |
| Percent Sold |
72.0% |
73.3% |
-1.8% |
| Total Raised |
£100,488,700 |
£147,962,101 |
-32.1% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
223 |
268 |
-16.8% |
| Lots Sold |
162 |
196 |
-17.3% |
| Percent Sold |
72.6% |
73.1% |
-0.7% |
| Total Raised |
£36,510,750 |
£79,964,000 |
-54.3% |
South-West
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
932 |
936 |
-0.4% |
| Lots Sold |
606 |
683 |
-11.3% |
| Percent Sold |
65.0% |
73.0% |
-10.9% |
| Total Raised |
£78,024,200 |
£135,930,600 |
-42.6% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
682 |
652 |
4.6% |
| Lots Sold |
431 |
450 |
-4.2% |
| Percent Sold |
63.2% |
69.0% |
-8.4% |
| Total Raised |
£53,738,500 |
£86,209,500 |
-37.7% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
250 |
284 |
-12.0% |
| Lots Sold |
175 |
233 |
-24.9% |
| Percent Sold |
70.0% |
82.0% |
-14.7% |
| Total Raised |
£24,285,700 |
£49,721,100 |
-51.2% |
Wales
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
647 |
668 |
-3.1% |
| Lots Sold |
379 |
366 |
3.6% |
| Percent Sold |
58.6% |
54.8% |
6.9% |
| Total Raised |
£35,842,500 |
£53,779,650 |
-33.4% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
543 |
541 |
0.4% |
| Lots Sold |
324 |
283 |
14.5% |
| Percent Sold |
59.7% |
52.3% |
14.1% |
| Total Raised |
£28,660,000 |
£31,788,100 |
-9.8% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
104 |
127 |
-18.1% |
| Lots Sold |
55 |
83 |
-33.7% |
| Percent Sold |
52.9% |
65.4% |
-19.1% |
| Total Raised |
£7,182,500 |
£21,991,550 |
-67.3% |
West Midlands
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
1195 |
1260 |
-5.2% |
| Lots Sold |
704 |
858 |
-17.9% |
| Percent Sold |
58.9% |
68.1% |
-13.5% |
| Total Raised |
£67,140,050 |
£137,988,496 |
-51.3% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
995 |
1022 |
-2.6% |
| Lots Sold |
574 |
678 |
-15.3% |
| Percent Sold |
57.7% |
66.3% |
-13.0% |
| Total Raised |
£53,203,800 |
£88,806,896 |
-40.1% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
200 |
238 |
-16.0% |
| Lots Sold |
130 |
180 |
-27.8% |
| Percent Sold |
65.0% |
75.6% |
-14.1% |
| Total Raised |
£13,936,250 |
£49,181,600 |
-71.7% |
Yorkshire and The Humber
| Total |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
1026 |
899 |
14.1% |
| Lots Sold |
696 |
641 |
8.6% |
| Percent Sold |
67.8% |
71.3% |
-4.9% |
| Total Raised |
£65,070,860 |
£97,870,311 |
-33.5% |
| Residential |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
910 |
755 |
20.5% |
| Lots Sold |
619 |
545 |
13.6% |
| Percent Sold |
68.0% |
72.2% |
-5.8% |
| Total Raised |
£54,133,210 |
£68,069,811 |
-20.5% |
| Commercial |
|
September - November 2008 |
September - November 2007 |
Increase |
| Lots Offered |
116 |
144 |
-19.4% |
| Lots Sold |
77 |
96 |
-19.8% |
| Percent Sold |
66.4% |
66.7% |
-0.4% |
| Total Raised |
£10,937,650 |
£29,800,500 |
-63.3% |
Your Comments
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