There was a significant drop in property auction market activity last month with both the number of lots offered and sold falling, according to the latest report from the Essential Information Group (EIG).
Following an extremely busy September round of auctions, a review of the numbers for October sales compared with October 2019 shows a different story, with notable declines across many parts of the country due to reduced stock levels when compared with last year.
The EIG’s managing director, David Sandeman, said: “Overall, lots offered was down almost 23% at 2,459 lots, residential lots offered was only down 13%, with the biggest decline seen with commercial lots down 62%.
“Against that, the sales rate was up overall 4.6% with both sectors in positive territory. Interestingly the regional analysis shows that some regions had a very good month whilst other were unable to match last October’s figures.”
| Overall Statistics October 2020 | |
|---|---|
| Auctions Held in the UK | 57 |
| Total Lots Offered | 2,459 |
| Total Lots Sold | 1,887 |
| Percent Sold | 76.7% |
| Total Realised | £310,013,303 |
EIG data:
National Auction Analysis
Overall
N.B. Figures in brackets denote the comparative period last year
| October 2020 | August 2020 to October 2020 | November 2019 to October 2020 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 2,459 (3,188) | ▼ 22.9% | 6,137 (7,395) | ▼ 17.0% | 23,086 (29,313) | ▼ 21.2% |
| Lots Sold | 1,887 (2,338) | ▼ 19.3% | 4,730 (5,428) | ▼ 12.9% | 17,774 (21,753) | ▼ 18.3% |
| Percent Sold | 76.7% (73.3%) | ▲ 4.6% | 77.1% (73.4%) | ▲ 5.0% | 77.0% (74.2%) | ▲ 3.8% |
| Total Raised | £310.0M (£410.3M) | ▼ 24.4% | £859.3M (£822.8M) | ▲ 4.4% | £3,112.2M (£3,620.0M) | ▼ 14.0% |
Residential
N.B. Figures in brackets denote the comparative period last year
| October 2020 | August 2020 to October 2020 | November 2019 to October 2020 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 2,226 (2,567) | ▼ 13.3% | 5,393 (6,239) | ▼ 13.6% | 19,987 (24,904) | ▼ 19.7% |
| Lots Sold | 1,711 (1,890) | ▼ 9.5% | 4,158 (4,593) | ▼ 9.5% | 15,393 (18,470) | ▼ 16.7% |
| Percent Sold | 76.9% (73.6%) | ▲ 4.5% | 77.1% (73.6%) | ▲ 4.8% | 77.0% (74.2%) | ▲ 3.8% |
| Total Raised | £260.9M (£277.5M) | ▼ 6.0% | £689.1M (£641.1M) | ▲ 7.5% | £2,373.3M (£2,653.0M) | ▼ 10.5% |
Commercial
N.B. Figures in brackets denote the comparative period last year
| October 2020 | August 2020 to October 2020 | November 2019 to October 2020 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 233 (621) | ▼ 62.5% | 744 (1,156) | ▼ 35.6% | 3,099 (4,409) | ▼ 29.7% |
| Lots Sold | 176 (448) | ▼ 60.7% | 572 (835) | ▼ 31.5% | 2,381 (3,283) | ▼ 27.5% |
| Percent Sold | 75.5% (72.1%) | ▲ 4.7% | 76.9% (72.2%) | ▲ 6.5% | 76.8% (74.5%) | ▲ 3.1% |
| Total Raised | £49.1M (£132.9M) | ▼ 63.0% | £170.2M (£181.7M) | ▼ 6.3% | £738.8M (£967.0M) | ▼ 23.6% |
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)
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 284 (267) | ▲ 6.4% | 250 (211) | ▲ 18.5% | 34 (56) | ▼ 39.3% |
| Lots Sold | 215 (189) | ▲ 13.8% | 187 (144) | ▲ 29.9% | 28 (45) | ▼ 37.8% |
| Percent Sold | 75.7% (70.8%) | ▲ 6.9% | 74.8% (68.2%) | ▲ 9.7% | 82.4% (80.4%) | ▲ 2.5% |
| Total Raised | £39.1M (£34.1M) | ▲ 14.7% | £30.5M (£25.4M) | ▲ 20.0% | £8.6M (£8.7M) | ▼ 0.9% |
East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 573 (532) | ▲ 7.7% | 480 (443) | ▲ 8.4% | 93 (89) | ▲ 4.5% |
| Lots Sold | 426 (404) | ▲ 5.4% | 360 (340) | ▲ 5.9% | 66 (64) | ▲ 3.1% |
| Percent Sold | 74.3% (75.9%) | ▼ 2.1% | 75.0% (76.7%) | ▼ 2.2% | 71.0% (71.9%) | ▼ 1.3% |
| Total Raised | £69.9M (£54.0M) | ▲ 29.3% | £55.4M (£40.9M) | ▲ 35.7% | £14.4M (£13.2M) | ▲ 9.5% |
London
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 605 (424) | ▲ 42.7% | 568 (365) | ▲ 55.6% | 37 (59) | ▼ 37.3% |
| Lots Sold | 475 (325) | ▲ 46.2% | 440 (279) | ▲ 57.7% | 35 (46) | ▼ 23.9% |
| Percent Sold | 78.5% (76.7%) | ▲ 2.3% | 77.5% (76.4%) | ▲ 1.4% | 94.6% (78.0%) | ▲ 21.3% |
| Total Raised | £192.4M (£147.9M) | ▲ 30.1% | £158.9M (£121.3M) | ▲ 31.0% | £33.4M (£26.6M) | ▲ 25.7% |
North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 441 (751) | ▼ 41.3% | 422 (708) | ▼ 40.4% | 19 (43) | ▼ 55.8% |
| Lots Sold | 340 (517) | ▼ 34.2% | 325 (493) | ▼ 34.1% | 15 (24) | ▼ 37.5% |
| Percent Sold | 77.1% (68.8%) | ▲ 12.1% | 77.0% (69.6%) | ▲ 10.6% | 78.9% (55.8%) | ▲ 41.4% |
| Total Raised | £20.2M (£34.8M) | ▼ 41.8% | £18.6M (£30.8M) | ▼ 39.5% | £1.6M (£4.0M) | ▼ 59.6% |
North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1,119 (1,257) | ▼ 11.0% | 1,005 (1,067) | ▼ 5.8% | 114 (190) | ▼ 40.0% |
| Lots Sold | 799 (911) | ▼ 12.3% | 719 (784) | ▼ 8.3% | 80 (127) | ▼ 37.0% |
| Percent Sold | 71.4% (72.5%) | ▼ 1.5% | 71.5% (73.5%) | ▼ 2.7% | 70.2% (66.8%) | ▲ 5.1% |
| Total Raised | £84.8M (£95.8M) | ▼ 11.5% | £73.6M (£71.3M) | ▲ 3.1% | £11.3M (£24.5M) | ▼ 54.0% |
North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 377 (325) | ▲ 16.0% | 324 (281) | ▲ 15.3% | 53 (44) | ▲ 20.5% |
| Lots Sold | 279 (249) | ▲ 12.0% | 235 (213) | ▲ 10.3% | 44 (36) | ▲ 22.2% |
| Percent Sold | 74.0% (76.6%) | ▼ 3.4% | 72.5% (75.8%) | ▼ 4.4% | 83.0% (81.8%) | ▲ 1.5% |
| Total Raised | £75.8M (£51.4M) | ▲ 47.5% | £60.1M (£39.0M) | ▲ 54.2% | £15.7M (£12.4M) | ▲ 26.3% |
Northern Ireland
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 0 (98) | ▼ 100.0% | 0 (79) | ▼ 100.0% | 0 (19) | ▼ 100.0% |
| Lots Sold | 0 (49) | ▼ 100.0% | 0 (42) | ▼ 100.0% | 0 (7) | ▼ 100.0% |
| Percent Sold | 0.0% (50.0%) | ▼ 100.0% | 0.0% (53.2%) | ▼ 100.0% | 0.0% (36.8%) | ▼ 100.0% |
| Total Raised | £0.0M (£4.4M) | ▼ 100.0% | £0.0M (£4.1M) | ▼ 100.0% | £0.0M (£0.4M) | ▼ 100.0% |
Scotland
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 46 (226) | ▼ 79.6% | 20 (184) | ▼ 89.1% | 26 (42) | ▼ 38.1% |
| Lots Sold | 41 (163) | ▼ 74.8% | 17 (131) | ▼ 87.0% | 24 (32) | ▼ 25.0% |
| Percent Sold | 89.1% (72.1%) | ▲ 23.6% | 85.0% (71.2%) | ▲ 19.4% | 92.3% (76.2%) | ▲ 21.1% |
| Total Raised | £6.9M (£12.9M) | ▼ 46.4% | £1.1M (£7.6M) | ▼ 85.0% | £5.8M (£5.3M) | ▲ 9.4% |
South-East Home Counties
(Includes East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex, Channel Islands)
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 759 (849) | ▼ 10.6% | 653 (715) | ▼ 8.7% | 106 (134) | ▼ 20.9% |
| Lots Sold | 600 (641) | ▼ 6.4% | 517 (533) | ▼ 3.0% | 83 (108) | ▼ 23.1% |
| Percent Sold | 79.1% (75.5%) | ▲ 4.8% | 79.2% (74.5%) | ▲ 6.3% | 78.3% (80.6%) | ▼ 2.9% |
| Total Raised | £147.4M (£132.9M) | ▲ 10.9% | £111.0M (£101.4M) | ▲ 9.6% | £36.3M (£31.6M) | ▲ 15.0% |
South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Somerset, Wiltshire, Isles of Scilly)
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 414 (527) | ▼ 21.4% | 329 (397) | ▼ 17.1% | 85 (130) | ▼ 34.6% |
| Lots Sold | 342 (391) | ▼ 12.5% | 272 (299) | ▼ 9.0% | 70 (92) | ▼ 23.9% |
| Percent Sold | 82.6% (74.2%) | ▲ 11.3% | 82.7% (75.3%) | ▲ 9.8% | 82.4% (70.8%) | ▲ 16.4% |
| Total Raised | £67.0M (£69.4M) | ▼ 3.5% | £54.6M (£55.6M) | ▼ 1.8% | £12.4M (£13.8M) | ▼ 10.3% |
Wales
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 373 (567) | ▼ 34.2% | 316 (465) | ▼ 32.0% | 57 (102) | ▼ 44.1% |
| Lots Sold | 284 (399) | ▼ 28.8% | 243 (338) | ▼ 28.1% | 41 (61) | ▼ 32.8% |
| Percent Sold | 76.1% (70.4%) | ▲ 8.1% | 76.9% (72.7%) | ▲ 5.8% | 71.9% (59.8%) | ▲ 20.2% |
| Total Raised | £34.8M (£43.2M) | ▼ 19.3% | £24.8M (£32.9M) | ▼ 24.7% | £10.0M (£10.2M) | ▼ 1.9% |
West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 673 (848) | ▼ 20.6% | 612 (712) | ▼ 14.0% | 61 (136) | ▼ 55.1% |
| Lots Sold | 549 (644) | ▼ 14.8% | 503 (539) | ▼ 6.7% | 46 (105) | ▼ 56.2% |
| Percent Sold | 81.6% (75.9%) | ▲ 7.5% | 82.2% (75.7%) | ▲ 8.6% | 75.4% (77.2%) | ▼ 2.3% |
| Total Raised | £76.3M (£87.8M) | ▼ 13.1% | £66.0M (£68.4M) | ▼ 3.5% | £10.3M (£19.4M) | ▼ 46.8% |
Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| August 2020 to October 2020 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 473 (724) | ▼ 34.7% | 414 (612) | ▼ 32.4% | 59 (112) | ▼ 47.3% |
| Lots Sold | 380 (546) | ▼ 30.4% | 340 (458) | ▼ 25.8% | 40 (88) | ▼ 54.5% |
| Percent Sold | 80.3% (75.4%) | ▲ 6.5% | 82.1% (74.8%) | ▲ 9.8% | 67.8% (78.6%) | ▼ 13.7% |
| Total Raised | £44.7M (£54.1M) | ▼ 17.4% | £34.3M (£42.4M) | ▼ 19.1% | £10.4M (£11.7M) | ▼ 11.2% |
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