Last month saw robust growth in both residential and commercial property auctions, new figures from the Essential Information Group (EIG) reveal.
Residential auctions have shown remarkable growth, with lots offered and sold rising by 11.2% and 22.1%, respectively, in June 2024 compared to the same period last year. This increase is fuelled by significant activity in major London sales, which saw high growth numbers. In the second quarter this year, London’s residential lots sold increased by 10.8%, with total revenue up by 19.3%.
Meanwhile, the additional Allsop Commercial auction for the month significantly contributed to the commercial sector’s impressive numbers, where the lots sold increased by 37.2% compared to last year, and total revenue surged by an astounding 160.3%. This additional auction has played a pivotal role in boosting the overall commercial growth, although the quarterly and yearly figures continue to show a slight decline.
EIG’s David Sandeman said: “Regional players in areas like East Anglia and the East Midlands have shown strong performance, with substantial increases in lots offered and sold. However, not all auctioneers have experienced this buoyancy, as indicated by regional variations, such as Scotland, where the total raised decreased by 30.8% despite an increase in residential activity.”
National Auction Analysis:
Overall
N.B. Figures in brackets denote the comparative period last year
| June 2024 | April 2024 to June 2024 | July 2023 to June 2024 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 3,009 (2,700) | ▲ 11.4% | 9,560 (8,749) | ▲ 9.3% | 37,491 (34,169) | ▲ 9.7% |
| Lots Sold | 2,126 (1,718) | ▲ 23.7% | 6,800 (6,021) | ▲ 12.9% | 26,611 (23,977) | ▲ 11.0% |
| Percent Sold | 70.7% (63.6%) | ▲ 11.2% | 71.1% (68.8%) | ▲ 3.3% | 71.0% (70.2%) | ▲ 1.1% |
| Total Raised | £427.8M (£302.3M) | ▲ 41.5% | £1,317.0M (£1,129.1M) | ▲ 16.6% | £5,098.1M (£4,783.6M) | ▲ 6.6% |
Residential
N.B. Figures in brackets denote the comparative period last year
| June 2024 | April 2024 to June 2024 | July 2023 to June 2024 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 2,640 (2,374) | ▲ 11.2% | 8,463 (7,634) | ▲ 10.9% | 33,036 (29,826) | ▲ 10.8% |
| Lots Sold | 1,864 (1,527) | ▲ 22.1% | 6,041 (5,251) | ▲ 15.0% | 23,508 (20,893) | ▲ 12.5% |
| Percent Sold | 70.6% (64.3%) | ▲ 9.8% | 71.4% (68.8%) | ▲ 3.8% | 71.2% (70.0%) | ▲ 1.7% |
| Total Raised | £328.6M (£264.2M) | ▲ 24.4% | £1,058.1M (£920.7M) | ▲ 14.9% | £3,978.5M (£3,633.1M) | ▲ 9.5% |
Commercial
N.B. Figures in brackets denote the comparative period last year
| June 2024 | April 2024 to June 2024 | July 2023 to June 2024 | ||||
|---|---|---|---|---|---|---|
| Lots Offered | 369 (326) | ▲ 13.2% | 1,097 (1,115) | ▼ 1.6% | 4,455 (4,343) | ▲ 2.6% |
| Lots Sold | 262 (191) | ▲ 37.2% | 759 (770) | ▼ 1.4% | 3,103 (3,084) | ▲ 0.6% |
| Percent Sold | 71.0% (58.6%) | ▲ 21.2% | 69.2% (69.1%) | ▲ 0.1% | 69.7% (71.0%) | ▼ 1.8% |
| Total Raised | £99.1M (£38.1M) | ▲ 160.3% | £258.9M (£208.4M) | ▲ 24.2% | £1,119.6M (£1,150.6M) | ▼ 2.7% |
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)
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 453 (378) | ▲ 19.8% | 410 (324) | ▲ 26.5% | 43 (54) | ▼ 20.4% |
| Lots Sold | 324 (263) | ▲ 23.2% | 294 (225) | ▲ 30.7% | 30 (38) | ▼ 21.1% |
| Percent Sold | 71.5% (69.6%) | ▲ 2.7% | 71.7% (69.4%) | ▲ 3.3% | 69.8% (70.4%) | ▼ 0.9% |
| Total Raised | £59.0M (£50.3M) | ▲ 17.2% | £48.4M (£39.3M) | ▲ 23.2% | £10.6M (£11.1M) | ▼ 4.2% |
East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 758 (694) | ▲ 9.2% | 662 (608) | ▲ 8.9% | 96 (86) | ▲ 11.6% |
| Lots Sold | 551 (455) | ▲ 21.1% | 473 (390) | ▲ 21.3% | 78 (65) | ▲ 20.0% |
| Percent Sold | 72.7% (65.6%) | ▲ 10.8% | 71.5% (64.1%) | ▲ 11.5% | 81.2% (75.6%) | ▲ 7.4% |
| Total Raised | £89.0M (£87.1M) | ▲ 2.2% | £70.5M (£69.2M) | ▲ 2.0% | £18.5M (£17.9M) | ▲ 3.1% |
London
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 738 (657) | ▲ 12.3% | 678 (595) | ▲ 13.9% | 60 (62) | ▼ 3.2% |
| Lots Sold | 557 (506) | ▲ 10.1% | 511 (461) | ▲ 10.8% | 46 (45) | ▲ 2.2% |
| Percent Sold | 75.5% (77.0%) | ▼ 1.9% | 75.4% (77.5%) | ▼ 2.7% | 76.7% (72.6%) | ▲ 5.6% |
| Total Raised | £279.1M (£217.0M) | ▲ 28.6% | £228.8M (£191.8M) | ▲ 19.3% | £50.3M (£25.1M) | ▲ 100.1% |
North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 802 (520) | ▲ 54.2% | 765 (493) | ▲ 55.2% | 37 (27) | ▲ 37.0% |
| Lots Sold | 602 (391) | ▲ 54.0% | 575 (366) | ▲ 57.1% | 27 (25) | ▲ 8.0% |
| Percent Sold | 75.1% (75.2%) | ▼ 0.1% | 75.2% (74.2%) | ▲ 1.3% | 73.0% (92.6%) | ▼ 21.2% |
| Total Raised | £38.9M (£34.3M) | ▲ 13.4% | £34.3M (£27.4M) | ▲ 25.1% | £4.6M (£6.9M) | ▼ 33.1% |
North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1,338 (1,372) | ▼ 2.5% | 1,182 (1,217) | ▼ 2.9% | 156 (155) | ▲ 0.6% |
| Lots Sold | 942 (920) | ▲ 2.4% | 848 (816) | ▲ 3.9% | 94 (104) | ▼ 9.6% |
| Percent Sold | 70.4% (67.1%) | ▲ 4.9% | 71.7% (67.1%) | ▲ 6.9% | 60.3% (67.1%) | ▼ 10.1% |
| Total Raised | £128.2M (£110.9M) | ▲ 15.6% | £103.7M (£87.5M) | ▲ 18.5% | £24.5M (£23.4M) | ▲ 4.5% |
North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 622 (615) | ▲ 1.1% | 570 (560) | ▲ 1.8% | 52 (55) | ▼ 5.5% |
| Lots Sold | 445 (430) | ▲ 3.5% | 408 (389) | ▲ 4.9% | 37 (41) | ▼ 9.8% |
| Percent Sold | 71.5% (69.9%) | ▲ 2.3% | 71.6% (69.5%) | ▲ 3.0% | 71.2% (74.5%) | ▼ 4.4% |
| Total Raised | £117.9M (£109.6M) | ▲ 7.5% | £97.3M (£88.3M) | ▲ 10.2% | £20.5M (£21.3M) | ▼ 3.6% |
Northern Ireland
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 55 (50) | ▲ 10.0% | 50 (38) | ▲ 31.6% | 5 (12) | ▼ 58.3% |
| Lots Sold | 29 (17) | ▲ 70.6% | 25 (13) | ▲ 92.3% | 4 (4) | ▼ 0.0% |
| Percent Sold | 52.7% (34.0%) | ▲ 55.0% | 50.0% (34.2%) | ▲ 46.2% | 80.0% (33.3%) | ▲ 140.2% |
| Total Raised | £3.5M (£1.6M) | ▲ 114.7% | £3.0M (£1.3M) | ▲ 121.2% | £0.5M (£0.3M) | ▲ 82.0% |
Scotland
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 378 (356) | ▲ 6.2% | 273 (198) | ▲ 37.9% | 105 (158) | ▼ 33.5% |
| Lots Sold | 122 (140) | ▼ 12.9% | 79 (67) | ▲ 17.9% | 43 (73) | ▼ 41.1% |
| Percent Sold | 32.3% (39.3%) | ▼ 17.8% | 28.9% (33.8%) | ▼ 14.5% | 41.0% (46.2%) | ▼ 11.3% |
| Total Raised | £10.3M (£14.9M) | ▼ 30.8% | £4.1M (£4.7M) | ▼ 12.7% | £6.2M (£10.3M) | ▼ 39.1% |
South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 1,559 (1,320) | ▲ 18.1% | 1,393 (1,164) | ▲ 19.7% | 166 (156) | ▲ 6.4% |
| Lots Sold | 1,097 (895) | ▲ 22.6% | 980 (779) | ▲ 25.8% | 117 (116) | ▲ 0.9% |
| Percent Sold | 70.4% (67.8%) | ▲ 3.8% | 70.4% (66.9%) | ▲ 5.2% | 70.5% (74.4%) | ▼ 5.2% |
| Total Raised | £247.2M (£215.0M) | ▲ 14.9% | £198.5M (£179.9M) | ▲ 10.4% | £48.7M (£35.2M) | ▲ 38.4% |
South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 802 (734) | ▲ 9.3% | 673 (625) | ▲ 7.7% | 129 (109) | ▲ 18.3% |
| Lots Sold | 611 (548) | ▲ 11.5% | 512 (455) | ▲ 12.5% | 99 (93) | ▲ 6.5% |
| Percent Sold | 76.2% (74.7%) | ▲ 2.0% | 76.1% (72.8%) | ▲ 4.5% | 76.7% (85.3%) | ▼ 10.1% |
| Total Raised | £134.0M (£109.9M) | ▲ 21.9% | £106.2M (£86.1M) | ▲ 23.3% | £27.7M (£23.8M) | ▲ 16.6% |
Wales
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 599 (582) | ▲ 2.9% | 522 (509) | ▲ 2.6% | 77 (73) | ▲ 5.5% |
| Lots Sold | 401 (387) | ▲ 3.6% | 346 (345) | ▲ 0.3% | 55 (42) | ▲ 31.0% |
| Percent Sold | 66.9% (66.5%) | ▲ 0.6% | 66.3% (67.8%) | ▼ 2.2% | 71.4% (57.5%) | ▲ 24.2% |
| Total Raised | £47.3M (£46.4M) | ▲ 1.8% | £39.0M (£40.0M) | ▼ 2.7% | £8.3M (£6.4M) | ▲ 30.0% |
West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 766 (767) | ▼ 0.1% | 672 (681) | ▼ 1.3% | 94 (86) | ▲ 9.3% |
| Lots Sold | 594 (559) | ▲ 6.3% | 522 (493) | ▲ 5.9% | 72 (66) | ▲ 9.1% |
| Percent Sold | 77.5% (72.9%) | ▲ 6.3% | 77.7% (72.4%) | ▲ 7.3% | 76.6% (76.7%) | ▼ 0.1% |
| Total Raised | £95.8M (£82.5M) | ▲ 16.2% | £75.2M (£66.9M) | ▲ 12.5% | £20.6M (£15.6M) | ▲ 32.0% |
Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| April 2024 to June 2024 | Total | Residential | Commercial | |||
|---|---|---|---|---|---|---|
| Lots Offered | 690 (704) | ▼ 2.0% | 613 (622) | ▼ 1.4% | 77 (82) | ▼ 6.1% |
| Lots Sold | 525 (510) | ▲ 2.9% | 468 (452) | ▲ 3.5% | 57 (58) | ▼ 1.7% |
| Percent Sold | 76.1% (72.4%) | ▲ 5.1% | 76.3% (72.7%) | ▲ 5.0% | 74.0% (70.7%) | ▲ 4.7% |
| Total Raised | £66.9M (£49.4M) | ▲ 35.5% | £49.1M (£38.3M) | ▲ 28.4% | £17.7M (£11.1M) | ▲ 59.8% |
Disclaimer: These figures are based on sales data provided to EIG by the auctioneers
Comments are closed.