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U.S. House Prices Analysis and Trend Forecast 2019 to 2021

UK Auction Houses See Surge in Lots Offered and Slump in Sales

Housing-Market / UK Housing May 23, 2008 - 11:48 AM GMT

By: David_Sandeman

Housing-Market   Best Financial Markets Analysis ArticleWelcome to the May newsletter that looks primarily at auction activity in April 2008.

The lack of liquidity in the money markets has again been reflected in the subdued sale rate with only 59% of lots finding buyers. This is the national figure and do take a look at the regional variation which is shown in the tables at the bottom of this newsletter.


National Auction Analysis
As with March 2008, April saw an increase in lots offered overall, when compared with the same month last year, but a decrease in both the number of lots that sold and amount raised. It is interesting to see that as with previous months the percent sold for commercial lots is consistently higher than for residential sales, though generally the number of commercial lots coming to auction is slightly lower when looking at rolling quarterly and yearly figures. April 2008 did see though, a 23% increase in the number of commercial lots offered over April 2007.

Total

  Last Month Last Quarter Last Year
April 2008 April 2007 Increase February - April 2008 February - April 2007 Increase May 2007 - April 2008 May 2006 - April 2007 Increase
Lots Offered 3,294 2,789 18.1% 10,544 10,363 1.7% 38,372 35,393 8.4%
Lots Sold 1,933 2,113 -8.5% 6,840 8,075 -15.3% 26,136 27,461 -4.8%
Percent Sold 59% 76% -22.5% 65% 78% -16.7% 68% 78% -12.2%
Total Raised £307,185,249 £355,245,504 -13.5% £1,217,438,376 £1,923,580,617 -36.7% £5,244,112,321 £6,333,573,126 -17.2%

Residential

  Last Month Last Quarter Last Year
April 2008 April 2007 Increase February - April 2008 February - April 2007 Increase May 2007 - April 2008 May 2006 - April 2007 Increase
Lots Offered 2,722 2,328 16.9% 8,487 8,135 4.3% 30,949 27,801 11.3%
Lots Sold 1,557 1,748 -10.9% 5,320 6,275 -15.2% 20,572 21,309 -3.5%
Percent Sold 57% 75% -23.8% 63% 77% -18.7% 66% 77% -13.3%
Total Raised £201,397,599 £290,689,624 -30.7% £793,249,607 £1,062,328,835 -25.3% £3,333,308,567 £3,481,054,665 -4.2%

Commercial

  Last Month Last Quarter Last Year
April 2008 April 2007 Increase February - April 2008 February - April 2007 Increase May 2007 - April 2008 May 2006 - April 2007 Increase
Lots Offered 568 461 23.2% 2,057 2,195 -6.3% 7,423 7,592 -2.2%
Lots Sold 375 365 2.7% 1,520 1,777 -14.5% 5,564 6,152 -9.6%
Percent Sold 66% 79% -16.6% 74% 81% -8.7% 75% 81% -7.5%
Total Raised £105,687,650 £64,555,880 63.7% £424,188,769 £832,225,782 -49.0% £1,910,803,754 £2,852,518,461 -33.0%

Regional Auction Analysis

Following the pattern that has been evident in the past, there has been a wide variation in the percent sold across the regions. The national trend of a higher percentage of commercial lots selling when compared with residential lots was seen in every region.

East Anglia

Total
February - April 2008 February - April 2007 Increase
Lots Offered 302 297 1.7%
Lots Sold 222 235 -5.5%
Percent Sold 73.5% 79.1% -7.1%
Total Raised £37,586,800 £50,054,251 -24.9%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 233 231 0.9%
Lots Sold 162 188 -13.8%
Percent Sold 69.5% 81.4% -14.6%
Total Raised £25,695,800 £27,884,250 -7.8%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 69 66 4.5%
Lots Sold 60 47 27.7%
Percent Sold 87.0% 71.2% 22.1%
Total Raised £11,891,000 £22,170,001 -46.4%

East Midlands

Total
February - April 2008 February - April 2007 Increase
Lots Offered 909 769 18.2%
Lots Sold 626 586 6.8%
Percent Sold 68.9% 76.2% -9.6%
Total Raised £86,080,860 £88,186,156 -2.4%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 740 651 13.7%
Lots Sold 487 488 -0.2%
Percent Sold 65.8% 75.0% -12.2%
Total Raised £50,476,800 £59,489,100 -15.1%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 169 118 43.2%
Lots Sold 139 98 41.8%
Percent Sold 82.2% 83.1% -1.0%
Total Raised £35,604,060 £28,697,056 24.1%

London

Total
February - April 2008 February - April 2007 Increase
Lots Offered 1104 1140 -3.2%
Lots Sold 818 1009 -18.9%
Percent Sold 74.1% 88.5% -16.3%
Total Raised £274,448,150 £426,723,194 -35.7%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 991 953 4.0%
Lots Sold 727 842 -13.7%
Percent Sold 73.4% 88.4% -17.0%
Total Raised £223,495,650 £276,615,194 -19.2%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 113 187 -39.6%
Lots Sold 91 167 -45.5%
Percent Sold 80.5% 89.3% -9.8%
Total Raised £50,952,500 £150,108,000 -66.1%

North-East

Total
February - April 2008 February - April 2007 Increase
Lots Offered 630 610 3.3%
Lots Sold 295 402 -26.6%
Percent Sold 46.8% 65.9% -28.9%
Total Raised £40,425,249 £67,253,598 -39.9%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 562 544 3.3%
Lots Sold 252 358 -29.6%
Percent Sold 44.8% 65.8% -31.9%
Total Raised £25,413,749 £37,511,648 -32.3%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 68 66 3.0%
Lots Sold 43 44 -2.3%
Percent Sold 63.2% 66.7% -5.1%
Total Raised £15,011,500 £29,741,950 -49.5%

North-West

Total
February - April 2008 February - April 2007 Increase
Lots Offered 1733 1919 -9.7%
Lots Sold 957 1386 -31.0%
Percent Sold 55.2% 72.2% -23.5%
Total Raised £121,062,999 £204,237,570 -40.7%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 1400 1507 -7.1%
Lots Sold 754 1062 -29.0%
Percent Sold 53.9% 70.5% -23.6%
Total Raised £76,405,999 £121,561,303 -37.1%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 333 412 -19.2%
Lots Sold 203 324 -37.3%
Percent Sold 61.0% 78.6% -22.5%
Total Raised £44,657,000 £82,676,267 -46.0%

North-West Home Counties

Total
February - April 2008 February - April 2007 Increase
Lots Offered 491 548 -10.4%
Lots Sold 357 425 -16.0%
Percent Sold 72.7% 77.6% -6.2%
Total Raised £105,802,801 £167,855,550 -37.0%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 392 372 5.4%
Lots Sold 278 281 -1.1%
Percent Sold 70.9% 75.5% -6.1%
Total Raised £57,576,301 £70,104,950 -17.9%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 99 176 -43.8%
Lots Sold 79 144 -45.1%
Percent Sold 79.8% 81.8% -2.5%
Total Raised £48,226,500 £97,750,600 -50.7%

Northern Ireland

Total
February - April 2008 February - April 2007 Increase
Lots Offered 13 49 -73.5%
Lots Sold 12 34 -64.7%
Percent Sold 92.3% 69.4% 33.0%
Total Raised £1,352,000 £49,196,000 -97.3%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 13 16 -18.8%
Lots Sold 12 11 9.1%
Percent Sold 92.3% 68.8% 34.3%
Total Raised £1,352,000 £20,170,000 -93.3%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 0 33 -100.0%
Lots Sold 0 23 -100.0%
Percent Sold 0.0% 69.7% 0.0%
Total Raised £0 £29,026,000 -100.0%

Scotland

Total
February - April 2008 February - April 2007 Increase
Lots Offered 249 245 1.6%
Lots Sold 175 159 10.1%
Percent Sold 70.3% 64.9% 8.3%
Total Raised £22,351,313 £33,911,901 -34.1%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 160 153 4.6%
Lots Sold 104 92 13.0%
Percent Sold 65.0% 60.1% 8.1%
Total Raised £7,272,753 £5,150,551 41.2%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 89 92 -3.3%
Lots Sold 71 67 6.0%
Percent Sold 79.8% 72.8% 9.5%
Total Raised £15,078,560 £28,761,350 -47.6%

South-East Home Counties

Total
February - April 2008 February - April 2007 Increase
Lots Offered 1439 1469 -2.0%
Lots Sold 1013 1187 -14.7%
Percent Sold 70.4% 80.8% -12.9%
Total Raised £205,641,304 £312,737,901 -34.2%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 1154 1115 3.5%
Lots Sold 803 909 -11.7%
Percent Sold 69.6% 81.5% -14.6%
Total Raised £129,565,355 £161,083,845 -19.6%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 285 354 -19.5%
Lots Sold 210 278 -24.5%
Percent Sold 73.7% 78.5% -6.2%
Total Raised £76,075,949 £151,654,056 -49.8%

South-West

Total
February - April 2008 February - April 2007 Increase
Lots Offered 766 772 -0.8%
Lots Sold 500 668 -25.1%
Percent Sold 65.3% 86.5% -24.6%
Total Raised £86,001,700 £167,864,099 -48.8%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 548 527 4.0%
Lots Sold 329 444 -25.9%
Percent Sold 60.0% 84.3% -28.7%
Total Raised £48,080,700 £84,158,899 -42.9%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 218 245 -11.0%
Lots Sold 171 224 -23.7%
Percent Sold 78.4% 91.4% -14.2%
Total Raised £37,921,000 £83,705,200 -54.7%

Wales

Total
February - April 2008 February - April 2007 Increase
Lots Offered 679 651 4.3%
Lots Sold 428 483 -11.4%
Percent Sold 63.0% 74.2% -15.0%
Total Raised £47,899,750 £61,877,350 -22.6%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 534 552 -3.3%
Lots Sold 323 400 -19.3%
Percent Sold 60.5% 72.5% -16.5%
Total Raised £30,917,450 £41,535,850 -25.6%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 145 99 46.5%
Lots Sold 105 83 26.5%
Percent Sold 72.4% 83.8% -13.6%
Total Raised £16,982,300 £20,341,500 -16.5%

West Midlands

Total
February - April 2008 February - April 2007 Increase
Lots Offered 1304 1032 26.4%
Lots Sold 866 827 4.7%
Percent Sold 66.4% 80.1% -17.1%
Total Raised £113,732,200 £145,218,264 -21.7%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 1032 826 24.9%
Lots Sold 657 669 -1.8%
Percent Sold 63.7% 81.0% -21.4%
Total Raised £76,840,700 £84,646,345 -9.2%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 272 206 32.0%
Lots Sold 209 158 32.3%
Percent Sold 76.8% 76.7% 0.2%
Total Raised £36,891,500 £60,571,919 -39.1%

Yorkshire and The Humber

Total
February - April 2008 February - April 2007 Increase
Lots Offered 925 862 7.3%
Lots Sold 571 674 -15.3%
Percent Sold 61.7% 78.2% -21.1%
Total Raised £75,053,250 £148,464,783 -49.4%
Residential
February - April 2008 February - April 2007 Increase
Lots Offered 728 688 5.8%
Lots Sold 432 531 -18.6%
Percent Sold 59.3% 77.2% -23.1%
Total Raised £40,156,350 £72,416,900 -44.5%
Commercial
February - April 2008 February - April 2007 Increase
Lots Offered 197 174 13.2%
Lots Sold 139 143 -2.8%
Percent Sold 70.6% 82.2% -14.1%
Total Raised £34,896,900 £76,047,883 -54.1%

Your Comments

If you would like to comment on anything in this email, or have any suggestions for future newsletters, we would like to hear from you. So please email us anytime.

By David Sandeman
Managing Director
davids@eigroup.co.uk

Essential Information Group, 1A Church Street, Reigate, Surrey, RH2 0AA
Website: http://www.eigroup.co.uk
Telephone: +44 1737 226150
Company Reg: 2972048

The Essential Information Group was formed in 1990 to provide the property industry with detailed information as to the results of all London property auctions. It now covers the whole of the UK and is recognised as the industry standard for auction information and currently includes details on over 400,000 properties and over 35,000 lots each year worth in excess of £5.6 billion.

A range of services are available as described in subscriber services . A strategic alliance was formed with the Estates Gazette , the leading property publication in 1995 to promote auction information on the Estates Gazette internet site EGi.

The information in this article is based on the property information given to the Essential Information Group by the auction houses offering the property for sale. However, it should not be relied upon for the purchase of property and the information should be verified with the auction house concerned to ascertain its accuracy.

David Sandeman Archive

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