The UK property auction market, as reflected in the November 2023 statistics provided by Essential Information Group (EIG), shows that market conditions are improving.
According to the data, a total of 2,987 lots were offered, and an impressive 66.8% were successfully sold, resulting in a total realised value of £410.2m. The data also reveals a year-over-year increase in lots offered, lots sold, and total raised, showcasing the market’s adaptability and potential for growth.
David Sandeman, director of EIG, said: “In a market often clouded by negative news, it is refreshing to see positive trends emerging in the property auction arena. Despite some fluctuations linked to the timing of auctions, November demonstrated the market’s resilience, with the majority of performance indicators signalling positive growth.
“The commercial sector experienced a temporary dip in numbers due to scheduling differences with Allsop Commercial’s mid-Autumn sale falling into October, it’s notable that many auctioneers on the residential side, including Allsop Residential, Savills, and SDL, saw substantial increases in both entries and sales.”
Regionally, East Anglia stood out with a significant surge in figures, primarily thanks to Auction House East Anglia’s sale moving from its usual October slot into November. The key auction areas like the Midlands, North East, and South East also maintained buoyancy and saw encouraging signs of growth.
However, Sandeman says it is important to note the contrasting trend in Wales, where the indicators are demonstrating a decline. This is also due auction date variation, with Paul Fosh’s late summer auction falling into August rather than early September as per previous years.
“It will be interesting to see how the numbers for overall 2023 figures fare when we review the December results in the new year,” he added.
National Auction Analysis
Overall
N.B. Figures in brackets denote the comparative period last year
| November 2023 | September 2023 to November 2023 | December 2022 to November 2023 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 2,987 (2,571) | ▲ 16.2% | 10,361 (9,078) | ▲ 14.1% | 36,269 (30,403) | ▲ 19.3% |
| Lots Sold | 1,994 (1,591) | ▲ 25.3% | 7,127 (6,186) | ▲ 15.2% | 25,269 (22,295) | ▲ 13.3% |
| Percent Sold | 66.8% (61.9%) | ▲ 7.9% | 68.8% (68.1%) | ▲ 1.0% | 69.7% (73.3%) | ▼ 4.9% |
| Total Raised | £410.2M (£381.1M) | ▲ 7.6% | £1,368.8M (£1,310.5M) | ▲ 4.5% | £4,735.6M (£4,792.1M) | ▼ 1.2% |
Residential
N.B. Figures in brackets denote the comparative period last year
| November 2023 | September 2023 to November 2023 | December 2022 to November 2023 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 2,627 (2,198) | ▲ 19.5% | 9,091 (7,873) | ▲ 15.5% | 31,900 (25,946) | ▲ 22.9% |
| Lots Sold | 1,768 (1,326) | ▲ 33.3% | 6,301 (5,331) | ▲ 18.2% | 22,243 (19,132) | ▲ 16.3% |
| Percent Sold | 67.3% (60.3%) | ▲ 11.6% | 69.3% (67.7%) | ▲ 2.4% | 69.7% (73.7%) | ▼ 5.4% |
| Total Raised | £332.8M (£254.7M) | ▲ 30.7% | £1,072.2M (£954.6M) | ▲ 12.3% | £3,721.8M (£3,599.9M) | ▲ 3.4% |
Commercial
N.B. Figures in brackets denote the comparative period last year
| November 2023 | September 2023 to November 2023 | December 2022 to November 2023 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 360 (373) | ▼ 3.5% | 1,270 (1,205) | ▲ 5.4% | 4,369 (4,457) | ▼ 2.0% |
| Lots Sold | 226 (265) | ▼ 14.7% | 826 (855) | ▼ 3.4% | 3,026 (3,163) | ▼ 4.3% |
| Percent Sold | 62.8% (71.0%) | ▼ 11.5% | 65.0% (71.0%) | ▼ 8.5% | 69.3% (71.0%) | ▼ 2.4% |
| Total Raised | £77.4M (£126.4M) | ▼ 38.8% | £296.7M (£356.0M) | ▼ 16.7% | £1,013.8M (£1,192.2M) | ▼ 15.0% |
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)
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 492 (356) | ▲ 38.2% | 433 (299) | ▲ 44.8% | 59 (57) | ▲ 3.5% |
| Lots Sold | 356 (254) | ▲ 40.2% | 319 (213) | ▲ 49.8% | 37 (41) | ▼ 9.8% |
| Percent Sold | 72.4% (71.3%) | ▲ 1.5% | 73.7% (71.2%) | ▲ 3.5% | 62.7% (71.9%) | ▼ 12.8% |
| Total Raised | £61.7M (£55.0M) | ▲ 12.3% | £52.2M (£39.5M) | ▲ 32.1% | £9.5M (£15.5M) | ▼ 38.3% |
East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 826 (690) | ▲ 19.7% | 732 (614) | ▲ 19.2% | 94 (76) | ▲ 23.7% |
| Lots Sold | 606 (467) | ▲ 29.8% | 531 (406) | ▲ 30.8% | 75 (61) | ▲ 23.0% |
| Percent Sold | 73.4% (67.7%) | ▲ 8.4% | 72.5% (66.1%) | ▲ 9.7% | 79.8% (80.3%) | ▼ 0.6% |
| Total Raised | £99.7M (£77.2M) | ▲ 29.1% | £76.0M (£58.6M) | ▲ 29.8% | £23.7M (£18.7M) | ▲ 27.0% |
London
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 838 (758) | ▲ 10.6% | 768 (664) | ▲ 15.7% | 70 (94) | ▼ 25.5% |
| Lots Sold | 590 (520) | ▲ 13.5% | 544 (443) | ▲ 22.8% | 46 (77) | ▼ 40.3% |
| Percent Sold | 70.4% (68.6%) | ▲ 2.6% | 70.8% (66.7%) | ▲ 6.1% | 65.7% (81.9%) | ▼ 19.8% |
| Total Raised | £256.3M (£265.2M) | ▼ 3.3% | £220.1M (£195.3M) | ▲ 12.7% | £36.3M (£69.9M) | ▼ 48.1% |
North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 610 (518) | ▲ 17.8% | 569 (477) | ▲ 19.3% | 41 (41) | ▼ 0.0% |
| Lots Sold | 458 (347) | ▲ 32.0% | 433 (315) | ▲ 37.5% | 25 (32) | ▼ 21.9% |
| Percent Sold | 75.1% (67.0%) | ▲ 12.1% | 76.1% (66.0%) | ▲ 15.3% | 61.0% (78.0%) | ▼ 21.8% |
| Total Raised | £33.7M (£33.6M) | ▲ 0.3% | £29.7M (£20.4M) | ▲ 45.2% | £4.1M (£13.2M) | ▼ 69.2% |
North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1,545 (1,460) | ▲ 5.8% | 1,405 (1,306) | ▲ 7.6% | 140 (154) | ▼ 9.1% |
| Lots Sold | 1,041 (981) | ▲ 6.1% | 947 (881) | ▲ 7.5% | 94 (100) | ▼ 6.0% |
| Percent Sold | 67.4% (67.2%) | ▲ 0.3% | 67.4% (67.5%) | ▼ 0.1% | 67.1% (64.9%) | ▲ 3.4% |
| Total Raised | £128.3M (£117.3M) | ▲ 9.4% | £98.2M (£88.7M) | ▲ 10.7% | £30.1M (£28.6M) | ▲ 5.3% |
North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 731 (594) | ▲ 23.1% | 631 (518) | ▲ 21.8% | 100 (76) | ▲ 31.6% |
| Lots Sold | 514 (409) | ▲ 25.7% | 442 (358) | ▲ 23.5% | 72 (51) | ▲ 41.2% |
| Percent Sold | 70.3% (68.9%) | ▲ 2.0% | 70.0% (69.1%) | ▲ 1.3% | 72.0% (67.1%) | ▲ 7.3% |
| Total Raised | £152.0M (£109.6M) | ▲ 38.7% | £106.3M (£79.7M) | ▲ 33.4% | £45.7M (£29.9M) | ▲ 52.8% |
Northern Ireland
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 66 (46) | ▲ 43.5% | 49 (33) | ▲ 48.5% | 17 (13) | ▲ 30.8% |
| Lots Sold | 24 (14) | ▲ 71.4% | 18 (9) | ▲ 100.0% | 6 (5) | ▲ 20.0% |
| Percent Sold | 36.4% (30.4%) | ▲ 19.7% | 36.7% (27.3%) | ▲ 34.4% | 35.3% (38.5%) | ▼ 8.3% |
| Total Raised | £2.0M (£4.4M) | ▼ 53.8% | £1.9M (£2.4M) | ▼ 22.6% | £0.2M (£2.0M) | ▼ 91.2% |
Scotland
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 303 (264) | ▲ 14.8% | 201 (179) | ▲ 12.3% | 102 (85) | ▲ 20.0% |
| Lots Sold | 112 (115) | ▼ 2.6% | 82 (81) | ▲ 1.2% | 30 (34) | ▼ 11.8% |
| Percent Sold | 37.0% (43.6%) | ▼ 15.1% | 40.8% (45.3%) | ▼ 9.9% | 29.4% (40.0%) | ▼ 26.5% |
| Total Raised | £14.1M (£12.7M) | ▲ 11.0% | £6.3M (£4.7M) | ▲ 32.7% | £7.9M (£8.0M) | ▼ 1.8% |
South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1,586 (1,325) | ▲ 19.7% | 1,400 (1,147) | ▲ 22.1% | 186 (178) | ▲ 4.5% |
| Lots Sold | 1,032 (873) | ▲ 18.2% | 902 (744) | ▲ 21.2% | 130 (129) | ▲ 0.8% |
| Percent Sold | 65.1% (65.9%) | ▼ 1.2% | 64.4% (64.9%) | ▼ 0.8% | 69.9% (72.5%) | ▼ 3.6% |
| Total Raised | £237.1M (£230.5M) | ▲ 2.9% | £189.6M (£176.1M) | ▲ 7.7% | £47.5M (£54.5M) | ▼ 12.8% |
South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 875 (733) | ▲ 19.4% | 707 (606) | ▲ 16.7% | 168 (127) | ▲ 32.3% |
| Lots Sold | 647 (578) | ▲ 11.9% | 522 (478) | ▲ 9.2% | 125 (100) | ▲ 25.0% |
| Percent Sold | 73.9% (78.9%) | ▼ 6.3% | 73.8% (78.9%) | ▼ 6.5% | 74.4% (78.7%) | ▼ 5.5% |
| Total Raised | £129.7M (£135.4M) | ▼ 4.2% | £99.1M (£109.0M) | ▼ 9.1% | £30.6M (£26.4M) | ▲ 15.9% |
Wales
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 582 (623) | ▼ 6.6% | 503 (530) | ▼ 5.1% | 79 (93) | ▼ 15.1% |
| Lots Sold | 349 (404) | ▼ 13.6% | 308 (338) | ▼ 8.9% | 41 (66) | ▼ 37.9% |
| Percent Sold | 60.0% (64.8%) | ▼ 7.4% | 61.2% (63.8%) | ▼ 4.1% | 51.9% (71.0%) | ▼ 26.9% |
| Total Raised | £42.0M (£54.6M) | ▼ 23.0% | £34.9M (£40.4M) | ▼ 13.6% | £7.1M (£14.2M) | ▼ 49.7% |
West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1,081 (929) | ▲ 16.4% | 964 (797) | ▲ 21.0% | 117 (132) | ▼ 11.4% |
| Lots Sold | 805 (682) | ▲ 18.0% | 720 (579) | ▲ 24.4% | 85 (103) | ▼ 17.5% |
| Percent Sold | 74.5% (73.4%) | ▲ 1.5% | 74.7% (72.6%) | ▲ 2.9% | 72.6% (78.0%) | ▼ 6.9% |
| Total Raised | £134.1M (£135.6M) | ▼ 1.1% | £100.9M (£89.8M) | ▲ 12.4% | £33.2M (£45.8M) | ▼ 27.5% |
Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| September 2023 to November 2023 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 826 (782) | ▲ 5.6% | 729 (703) | ▲ 3.7% | 97 (79) | ▲ 22.8% |
| Lots Sold | 593 (542) | ▲ 9.4% | 533 (486) | ▲ 9.7% | 60 (56) | ▲ 7.1% |
| Percent Sold | 71.8% (69.3%) | ▲ 3.6% | 73.1% (69.1%) | ▲ 5.8% | 61.9% (70.9%) | ▼ 12.7% |
| Total Raised | £77.9M (£79.5M) | ▼ 1.9% | £57.1M (£50.0M) | ▲ 14.1% | £20.9M (£29.5M) | ▼ 29.1% |
Disclaimer: The figures are based on sales data provided to EIG y the auctioneers.
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