There was a significant fall in property auction market activity in February with both the number of lots offered and sold falling, the latest report from the Essential Information Group (EIG) shows.
Overall, lots offered was down by a quarter year-on-year, owed largely to the recent coronavirus lockdown.
The EIG’s managing director, David Sandeman, commented: “February was a difficult month for the industry in terms of volume with lots offered down 25% compared with 2020, and amount raised slipping down 14%. The commercial sector was hardest hit where lots offered fell 56% and amount raised fell 38%.
“With the prospect of lockdown easing, hopefully the industry will be able to get back to some sense of normal working and will not be shackled so much by the restrictions that make inspecting and viewing properties difficult. There were wide variations across all the regions in terms of activity with East Anglia seeing a large increase in the amount raised, whilst Scotland and the North East saw big falls.”
EIG data:
National Auction Analysis
Overall
N.B. Figures in brackets denote the comparative period last year
| February 2021 | December 2020 to February 2021 | March 2020 to February 2021 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 2,670 (3,568) | ▼ 25.2% | 6,246 (7,384) | ▼ 15.4% | 22,003 (28,923) | ▼ 23.9% |
| Lots Sold | 2,132 (2,806) | ▼ 24.0% | 4,921 (5,709) | ▼ 13.8% | 17,180 (21,933) | ▼ 21.7% |
| Percent Sold | 79.9% (78.6%) | ▲ 1.7% | 78.8% (77.3%) | ▲ 1.9% | 78.1% (75.8%) | ▲ 3.0% |
| Total Raised | £419.4M (£488.2M) | ▼ 14.1% | £950.0M (£948.6M) | ▲ 0.1% | £3,256.3M (£3,626.2M) | ▼ 10.2% |
Residential
N.B. Figures in brackets denote the comparative period last year
| February 2021 | December 2020 to February 2021 | March 2020 to February 2021 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 2,419 (2,999) | ▼ 19.3% | 5,632 (6,260) | ▼ 10.0% | 19,306 (24,548) | ▼ 21.4% |
| Lots Sold | 1,931 (2,375) | ▼ 18.7% | 4,437 (4,868) | ▼ 8.9% | 15,024 (18,641) | ▼ 19.4% |
| Percent Sold | 79.8% (79.2%) | ▲ 0.8% | 78.8% (77.8%) | ▲ 1.3% | 77.8% (75.9%) | ▲ 2.5% |
| Total Raised | £346.7M (£370.9M) | ▼ 6.5% | £758.8M (£711.7M) | ▲ 6.6% | £2,492.5M (£2,688.8M) | ▼ 7.3% |
Commercial
N.B. Figures in brackets denote the comparative period last year
| February 2021 | December 2020 to February 2021 | March 2020 to February 2021 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 251 (569) | ▼ 55.9% | 614 (1,124) | ▼ 45.4% | 2,697 (4,375) | ▼ 38.4% |
| Lots Sold | 201 (431) | ▼ 53.4% | 484 (841) | ▼ 42.4% | 2,156 (3,292) | ▼ 34.5% |
| Percent Sold | 80.1% (75.7%) | ▲ 5.8% | 78.8% (74.8%) | ▲ 5.3% | 79.9% (75.2%) | ▲ 6.3% |
| Total Raised | £72.7M (£117.3M) | ▼ 38.1% | £191.3M (£236.9M) | ▼ 19.3% | £763.8M (£937.4M) | ▼ 18.5% |
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)
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 244 (263) | ▼ 7.2% | 213 (216) | ▼ 1.4% | 31 (47) | ▼ 34.0% |
| Lots Sold | 179 (185) | ▼ 3.2% | 156 (150) | ▲ 4.0% | 23 (35) | ▼ 34.3% |
| Percent Sold | 73.4% (70.3%) | ▲ 4.4% | 73.2% (69.4%) | ▲ 5.5% | 74.2% (74.5%) | ▼ 0.4% |
| Total Raised | £35.7M (£29.7M) | ▲ 20.1% | £27.5M (£22.5M) | ▲ 22.2% | £8.1M (£7.2M) | ▲ 13.5% |
East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 464 (500) | ▼ 7.2% | 425 (418) | ▲ 1.7% | 39 (82) | ▼ 52.4% |
| Lots Sold | 372 (408) | ▼ 8.8% | 338 (340) | ▼ 0.6% | 34 (68) | ▼ 50.0% |
| Percent Sold | 80.2% (81.6%) | ▼ 1.7% | 79.5% (81.3%) | ▼ 2.2% | 87.2% (82.9%) | ▲ 5.2% |
| Total Raised | £58.3M (£57.9M) | ▲ 0.7% | £49.7M (£40.4M) | ▲ 23.3% | £8.6M (£17.6M) | ▼ 51.1% |
London
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 619 (531) | ▲ 16.6% | 577 (487) | ▲ 18.5% | 42 (44) | ▼ 4.5% |
| Lots Sold | 496 (447) | ▲ 11.0% | 462 (408) | ▲ 13.2% | 34 (39) | ▼ 12.8% |
| Percent Sold | 80.1% (84.2%) | ▼ 4.9% | 80.1% (83.8%) | ▼ 4.4% | 81.0% (88.6%) | ▼ 8.6% |
| Total Raised | £214.9M (£180.4M) | ▲ 19.1% | £186.7M (£156.1M) | ▲ 19.6% | £28.2M (£24.3M) | ▲ 15.7% |
North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 437 (874) | ▼ 50.0% | 418 (830) | ▼ 49.6% | 19 (44) | ▼ 56.8% |
| Lots Sold | 367 (626) | ▼ 41.4% | 350 (601) | ▼ 41.8% | 17 (25) | ▼ 32.0% |
| Percent Sold | 84.0% (71.6%) | ▲ 17.3% | 83.7% (72.4%) | ▲ 15.6% | 89.5% (56.8%) | ▲ 57.6% |
| Total Raised | £29.8M (£40.9M) | ▼ 27.1% | £25.2M (£37.3M) | ▼ 32.4% | £4.6M (£3.6M) | ▲ 28.0% |
North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1,113 (1,189) | ▼ 6.4% | 1,015 (969) | ▲ 4.7% | 98 (220) | ▼ 55.5% |
| Lots Sold | 816 (893) | ▼ 8.6% | 741 (738) | ▲ 0.4% | 75 (155) | ▼ 51.6% |
| Percent Sold | 73.3% (75.1%) | ▼ 2.4% | 73.0% (76.2%) | ▼ 4.2% | 76.5% (70.5%) | ▲ 8.5% |
| Total Raised | £94.8M (£98.6M) | ▼ 3.9% | £74.2M (£67.5M) | ▲ 9.9% | £20.6M (£31.1M) | ▼ 33.9% |
North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 412 (389) | ▲ 5.9% | 373 (316) | ▲ 18.0% | 39 (73) | ▼ 46.6% |
| Lots Sold | 321 (315) | ▲ 1.9% | 292 (258) | ▲ 13.2% | 29 (57) | ▼ 49.1% |
| Percent Sold | 77.9% (81.0%) | ▼ 3.8% | 78.3% (81.6%) | ▼ 4.0% | 74.4% (78.1%) | ▼ 4.7% |
| Total Raised | £90.1M (£80.4M) | ▲ 12.1% | £67.1M (£60.2M) | ▲ 11.6% | £23.0M (£20.2M) | ▲ 13.6% |
Northern Ireland
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1 (119) | ▼ 99.2% | 1 (98) | ▼ 99.0% | 0 (21) | ▼ 100.0% |
| Lots Sold | 0 (56) | ▼ 100.0% | 0 (49) | ▼ 100.0% | 0 (7) | ▼ 100.0% |
| Percent Sold | 0.0% (47.1%) | ▼ 100.0% | 0.0% (50.0%) | ▼ 100.0% | 0.0% (33.3%) | ▼ 100.0% |
| Total Raised | £0.0M (£4.6M) | ▼ 100.0% | £0.0M (£4.2M) | ▼ 100.0% | £0.0M (£0.4M) | ▼ 100.0% |
Scotland
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 46 (191) | ▼ 75.9% | 12 (142) | ▼ 91.5% | 34 (49) | ▼ 30.6% |
| Lots Sold | 30 (140) | ▼ 78.6% | 11 (97) | ▼ 88.7% | 19 (43) | ▼ 55.8% |
| Percent Sold | 65.2% (73.3%) | ▼ 11.1% | 91.7% (68.3%) | ▲ 34.3% | 55.9% (87.8%) | ▼ 36.3% |
| Total Raised | £5.8M (£16.1M) | ▼ 63.8% | £0.9M (£5.8M) | ▼ 84.8% | £4.9M (£10.3M) | ▼ 52.2% |
South-East Home Counties
(Includes East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex, Channel Islands)
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 986 (928) | ▲ 6.3% | 886 (770) | ▲ 15.1% | 100 (158) | ▼ 36.7% |
| Lots Sold | 785 (751) | ▲ 4.5% | 699 (626) | ▲ 11.7% | 86 (125) | ▼ 31.2% |
| Percent Sold | 79.6% (80.9%) | ▼ 1.6% | 78.9% (81.3%) | ▼ 3.0% | 86.0% (79.1%) | ▲ 8.7% |
| Total Raised | £182.5M (£178.3M) | ▲ 2.3% | £149.7M (£129.9M) | ▲ 15.2% | £32.8M (£48.4M) | ▼ 32.3% |
South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset, Wiltshire, Isles of Scilly)
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 390 (453) | ▼ 13.9% | 336 (364) | ▼ 7.7% | 54 (89) | ▼ 39.3% |
| Lots Sold | 334 (389) | ▼ 14.1% | 286 (313) | ▼ 8.6% | 48 (76) | ▼ 36.8% |
| Percent Sold | 85.6% (85.9%) | ▼ 0.3% | 85.1% (86.0%) | ▼ 1.0% | 88.9% (85.4%) | ▲ 4.1% |
| Total Raised | £74.0M (£77.7M) | ▼ 4.8% | £58.3M (£55.7M) | ▲ 4.8% | £15.6M (£22.0M) | ▼ 29.0% |
Wales
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 377 (446) | ▼ 15.5% | 317 (357) | ▼ 11.2% | 60 (89) | ▼ 32.6% |
| Lots Sold | 270 (327) | ▼ 17.4% | 227 (273) | ▼ 16.8% | 43 (54) | ▼ 20.4% |
| Percent Sold | 71.6% (73.3%) | ▼ 2.3% | 71.6% (76.5%) | ▼ 6.4% | 71.7% (60.7%) | ▲ 18.1% |
| Total Raised | £28.4M (£33.2M) | ▼ 14.5% | £21.0M (£24.5M) | ▼ 14.4% | £7.4M (£8.7M) | ▼ 14.6% |
West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 705 (850) | ▼ 17.1% | 654 (757) | ▼ 13.6% | 51 (93) | ▼ 45.2% |
| Lots Sold | 563 (669) | ▼ 15.8% | 526 (599) | ▼ 12.2% | 37 (70) | ▼ 47.1% |
| Percent Sold | 79.9% (78.7%) | ▲ 1.5% | 80.4% (79.1%) | ▲ 1.6% | 72.5% (75.3%) | ▼ 3.7% |
| Total Raised | £84.8M (£93.2M) | ▼ 9.1% | £62.6M (£71.4M) | ▼ 12.3% | £22.1M (£21.8M) | ▲ 1.4% |
Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| December 2020 to February 2021 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 452 (651) | ▼ 30.6% | 405 (536) | ▼ 24.4% | 47 (115) | ▼ 59.1% |
| Lots Sold | 388 (503) | ▼ 22.9% | 349 (416) | ▼ 16.1% | 39 (87) | ▼ 55.2% |
| Percent Sold | 85.8% (77.3%) | ▲ 11.0% | 86.2% (77.6%) | ▲ 11.1% | 83.0% (75.7%) | ▲ 9.6% |
| Total Raised | £51.0M (£57.6M) | ▼ 11.4% | £35.7M (£36.3M) | ▼ 1.9% | £15.4M (£21.3M) | ▼ 27.6% |
EIG date is full of errors – its not cross checked against actual real time data but rather just what the Auction house supplies them. I follow auctions closely and EIG results dont match the actual real time resutls for a lot of the Modern out to impress auction houses
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