The year is already off to a flying start, with this January being marked as the busiest ever in auction history, both in terms of the number of properties coming to market increasing by 45.1% and the number selling under the hammer growing by 49.8%.
January has traditionally been one of the quieter months for auctions, but there has been a significant uplift in New Year sales over the past few years, according to Essential Information guide.
The primary reason for the shift this year is two of the major London auctioneers choosing to put on additional sales to kick off the year, in advance of their standard February dates, which EIG’s David Sandeman says reflects the increased appetite and demand for buying and selling properties at auctions.
“As we started to see grow at the end of last year and we have seen auctioneers choosing to add more dates into their calendars to cope with this influx [in demand],” he said.
Looking at the regional breakdown, many regions have benefitted from these additional auctions taking place, with most performance indicators showing an increase on last year.
Sandeman continued: “Those areas which have seen a slight dip in their January statistics have experienced this due to auction dates being rolled forward into early February, so we would expect to see added buoyancy in next months figures.
“2024 is shaping up to be a busy time for auctions, and we are looking forward to seeing what the rest of the first Quarter brings for the industry.”
National Auction Analysis
Overall
N.B. Figures in brackets denote the comparative period last year
| January 2024 | November 2023 to January 2024 | February 2023 to January 2024 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 1,464 (1,009) | ▲ 45.1% | 7,881 (7,248) | ▲ 8.7% | 36,487 (31,219) | ▲ 16.9% |
| Lots Sold | 966 (645) | ▲ 49.8% | 5,496 (4,795) | ▲ 14.6% | 25,668 (22,599) | ▲ 13.6% |
| Percent Sold | 66.0% (63.9%) | ▲ 3.3% | 69.7% (66.2%) | ▲ 5.3% | 70.3% (72.4%) | ▼ 2.9% |
| Total Raised | £147.3M (£74.3M) | ▲ 98.3% | £1,039.9M (£915.5M) | ▲ 13.6% | £4,895.9M (£4,745.0M) | ▲ 3.2% |
Residential
N.B. Figures in brackets denote the comparative period last year
| January 2024 | November 2023 to January 2024 | February 2023 to January 2024 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 1,340 (919) | ▲ 45.8% | 6,955 (6,428) | ▲ 8.2% | 31,980 (26,872) | ▲ 19.0% |
| Lots Sold | 904 (594) | ▲ 52.2% | 4,884 (4,218) | ▲ 15.8% | 22,499 (19,553) | ▲ 15.1% |
| Percent Sold | 67.5% (64.6%) | ▲ 4.5% | 70.2% (65.6%) | ▲ 7.0% | 70.4% (72.8%) | ▼ 3.3% |
| Total Raised | £135.5M (£66.6M) | ▲ 103.4% | £842.4M (£686.8M) | ▲ 22.7% | £3,814.4M (£3,589.9M) | ▲ 6.3% |
Commercial
N.B. Figures in brackets denote the comparative period last year
| January 2024 | November 2023 to January 2024 | February 2023 to January 2024 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 124 (90) | ▲ 37.8% | 926 (820) | ▲ 12.9% | 4,507 (4,347) | ▲ 3.7% |
| Lots Sold | 62 (51) | ▲ 21.6% | 612 (577) | ▲ 6.1% | 3,169 (3,046) | ▲ 4.0% |
| Percent Sold | 50.0% (56.7%) | ▼ 11.8% | 66.1% (70.4%) | ▼ 6.1% | 70.3% (70.1%) | ▲ 0.3% |
| Total Raised | £11.9M (£7.7M) | ▲ 54.0% | £197.5M (£228.7M) | ▼ 13.7% | £1,081.4M (£1,155.1M) | ▼ 6.4% |
Regional Auction Analysis
As is usually the case, variations across all the measurable parameters can be seen across the regions.
N.B. Figures in brackets denote the comparative period last year
East Anglia
(Includes Cambridgeshire, Norfolk, Suffolk)
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 385 (257) | ▲ 49.8% | 346 (224) | ▲ 54.5% | 39 (33) | ▲ 18.2% |
| Lots Sold | 281 (187) | ▲ 50.3% | 254 (162) | ▲ 56.8% | 27 (25) | ▲ 8.0% |
| Percent Sold | 73.0% (72.8%) | ▲ 0.3% | 73.4% (72.3%) | ▲ 1.5% | 69.2% (75.8%) | ▼ 8.7% |
| Total Raised | £47.4M (£39.0M) | ▲ 21.5% | £42.1M (£27.2M) | ▲ 54.5% | £5.3M (£11.8M) | ▼ 54.8% |
East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 597 (567) | ▲ 5.3% | 521 (507) | ▲ 2.8% | 76 (60) | ▲ 26.7% |
| Lots Sold | 448 (387) | ▲ 15.8% | 386 (336) | ▲ 14.9% | 62 (51) | ▲ 21.6% |
| Percent Sold | 75.0% (68.3%) | ▲ 9.8% | 74.1% (66.3%) | ▲ 11.8% | 81.6% (85.0%) | ▼ 4.0% |
| Total Raised | £74.0M (£65.8M) | ▲ 12.5% | £59.0M (£49.0M) | ▲ 20.6% | £15.0M (£16.8M) | ▼ 11.1% |
London
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 567 (540) | ▲ 5.0% | 531 (466) | ▲ 13.9% | 36 (74) | ▼ 51.4% |
| Lots Sold | 426 (370) | ▲ 15.1% | 396 (309) | ▲ 28.2% | 30 (61) | ▼ 50.8% |
| Percent Sold | 75.1% (68.5%) | ▲ 9.6% | 74.6% (66.3%) | ▲ 12.5% | 83.3% (82.4%) | ▲ 1.1% |
| Total Raised | £210.1M (£172.7M) | ▲ 21.7% | £183.3M (£129.1M) | ▲ 42.0% | £26.8M (£43.6M) | ▼ 38.4% |
North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 644 (517) | ▲ 24.6% | 604 (496) | ▲ 21.8% | 40 (21) | ▲ 90.5% |
| Lots Sold | 491 (320) | ▲ 53.4% | 465 (303) | ▲ 53.5% | 26 (17) | ▲ 52.9% |
| Percent Sold | 76.2% (61.9%) | ▲ 23.1% | 77.0% (61.1%) | ▲ 26.0% | 65.0% (81.0%) | ▼ 19.8% |
| Total Raised | £31.9M (£31.1M) | ▲ 2.5% | £27.5M (£22.1M) | ▲ 24.8% | £4.4M (£9.1M) | ▼ 51.6% |
North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1,136 (1,178) | ▼ 3.6% | 1,036 (1,054) | ▼ 1.7% | 100 (124) | ▼ 19.4% |
| Lots Sold | 796 (759) | ▲ 4.9% | 727 (679) | ▲ 7.1% | 69 (80) | ▼ 13.8% |
| Percent Sold | 70.1% (64.4%) | ▲ 8.9% | 70.2% (64.4%) | ▲ 9.0% | 69.0% (64.5%) | ▲ 7.0% |
| Total Raised | £93.8M (£89.2M) | ▲ 5.2% | £77.1M (£67.8M) | ▲ 13.8% | £16.7M (£21.4M) | ▼ 22.0% |
North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 560 (448) | ▲ 25.0% | 495 (391) | ▲ 26.6% | 65 (57) | ▲ 14.0% |
| Lots Sold | 394 (300) | ▲ 31.3% | 351 (260) | ▲ 35.0% | 43 (40) | ▲ 7.5% |
| Percent Sold | 70.4% (67.0%) | ▲ 5.1% | 70.9% (66.5%) | ▲ 6.6% | 66.2% (70.2%) | ▼ 5.7% |
| Total Raised | £111.4M (£83.3M) | ▲ 33.8% | £87.4M (£60.9M) | ▲ 43.4% | £24.1M (£22.4M) | ▲ 7.6% |
Northern Ireland
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 58 (59) | ▼ 1.7% | 43 (44) | ▼ 2.3% | 15 (15) | ▼ 0.0% |
| Lots Sold | 25 (16) | ▲ 56.3% | 18 (11) | ▲ 63.6% | 7 (5) | ▲ 40.0% |
| Percent Sold | 43.1% (27.1%) | ▲ 59.0% | 41.9% (25.0%) | ▲ 67.6% | 46.7% (33.3%) | ▲ 40.2% |
| Total Raised | £2.4M (£4.9M) | ▼ 50.3% | £1.9M (£3.0M) | ▼ 37.1% | £0.5M (£1.8M) | ▼ 72.1% |
Scotland
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 310 (301) | ▲ 3.0% | 203 (214) | ▼ 5.1% | 107 (87) | ▲ 23.0% |
| Lots Sold | 108 (127) | ▼ 15.0% | 71 (87) | ▼ 18.4% | 37 (40) | ▼ 7.5% |
| Percent Sold | 34.8% (42.2%) | ▼ 17.5% | 35.0% (40.7%) | ▼ 14.0% | 34.6% (46.0%) | ▼ 24.8% |
| Total Raised | £17.1M (£12.2M) | ▲ 39.3% | £5.8M (£6.6M) | ▼ 10.9% | £11.2M (£5.7M) | ▲ 97.1% |
South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1,209 (995) | ▲ 21.5% | 1,095 (889) | ▲ 23.2% | 114 (106) | ▲ 7.5% |
| Lots Sold | 822 (639) | ▲ 28.6% | 741 (564) | ▲ 31.4% | 81 (75) | ▲ 8.0% |
| Percent Sold | 68.0% (64.2%) | ▲ 5.9% | 67.7% (63.4%) | ▲ 6.8% | 71.1% (70.8%) | ▲ 0.4% |
| Total Raised | £184.0M (£150.8M) | ▲ 22.0% | £155.1M (£119.9M) | ▲ 29.4% | £28.9M (£30.9M) | ▼ 6.5% |
South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 604 (530) | ▲ 14.0% | 501 (463) | ▲ 8.2% | 103 (67) | ▲ 53.7% |
| Lots Sold | 429 (373) | ▲ 15.0% | 356 (320) | ▲ 11.3% | 73 (53) | ▲ 37.7% |
| Percent Sold | 71.0% (70.4%) | ▲ 0.9% | 71.1% (69.1%) | ▲ 2.9% | 70.9% (79.1%) | ▼ 10.4% |
| Total Raised | £86.1M (£82.5M) | ▲ 4.3% | £69.5M (£66.1M) | ▲ 5.1% | £16.6M (£16.4M) | ▲ 1.0% |
Wales
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 440 (386) | ▲ 14.0% | 373 (342) | ▲ 9.1% | 67 (44) | ▲ 52.3% |
| Lots Sold | 288 (253) | ▲ 13.8% | 245 (226) | ▲ 8.4% | 43 (27) | ▲ 59.3% |
| Percent Sold | 65.5% (65.5%) | ▼ 0.0% | 65.7% (66.1%) | ▼ 0.6% | 64.2% (61.4%) | ▲ 4.6% |
| Total Raised | £31.8M (£33.7M) | ▼ 5.5% | £25.2M (£26.3M) | ▼ 3.9% | £6.6M (£7.4M) | ▼ 11.2% |
West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 711 (747) | ▼ 4.8% | 628 (660) | ▼ 4.8% | 83 (87) | ▼ 4.6% |
| Lots Sold | 515 (568) | ▼ 9.3% | 453 (500) | ▼ 9.4% | 62 (68) | ▼ 8.8% |
| Percent Sold | 72.4% (76.0%) | ▼ 4.7% | 72.1% (75.8%) | ▼ 4.9% | 74.7% (78.2%) | ▼ 4.5% |
| Total Raised | £80.3M (£89.8M) | ▼ 10.6% | £58.7M (£64.4M) | ▼ 8.8% | £21.6M (£25.4M) | ▼ 15.2% |
Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| November 2023 to January 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 660 (723) | ▼ 8.7% | 579 (678) | ▼ 14.6% | 81 (45) | ▲ 80.0% |
| Lots Sold | 473 (496) | ▼ 4.6% | 421 (461) | ▼ 8.7% | 52 (35) | ▲ 48.6% |
| Percent Sold | 71.7% (68.6%) | ▲ 4.5% | 72.7% (68.0%) | ▲ 6.9% | 64.2% (77.8%) | ▼ 17.5% |
| Total Raised | £69.6M (£60.4M) | ▲ 15.1% | £49.7M (£44.5M) | ▲ 11.7% | £19.9M (£15.9M) | ▲ 24.7% |
The figures are based on sales data provided to EIG by the auctioneers.
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