The August newsletter of EIG, the Essential Information Group – based in Surrey, UK, looks back at auction activity in July and preceding periods:

Following a prolonged run of positive results in the auction market over the last 12 – 18 months, the figures below show that July 2012 did not perform as well as July 2011. Lots offered and lots sold decreased by 6.3% and 6.8% respectively, whilst the total amount raised fell nearly 15% to £373 million.

There are a number of factors that could have contributed to the downturn – not least the amazing spectacle that was the London 2012 Olympics. As the country geared up to what I’m sure you’ll agree was a fantastic two weeks of sport and entertainment, it is likely that buyers and sellers lessened their involvement in the market. Elsewhere, the challenging market conditions continue to affect the entire property market.

– David Sandeman, Managing Director Email: davids@eigroup.co.uk, Tel: +0044 (0) 1737 232 289

 

National Auction Analysis

Despite the monthly figures being largely down on July 2011, encouragingly the rolling quarterly and yearly figures show a number of increases. Notably, lots sold was up 8% to 24,747 in the past 12 months – that is the highest number recorded between August and July for 5 years.

Total

Last Month Last Quarter Last Year:

July 2012 July 2011 Increase May 2012 – July 2012 May 2011 – July 2011 Increase August 2011 – July 2012 August 2010 – July 2011 Increase
Lots Offered 3,762 4,016 -6.3% 10,078 9,892 1.9% 33,489 32,242 3.9%
Lots Sold 2,621 2,813 -6.8% 7,126 7,081 0.6% 24,747 22,903 8.1%
Percent Sold 69.7% 70% -0.4% 70.7% 71.6% -1.3% 73.9% 71% 4.1%
Total Raised £373,185,429 £437,222,044 -14.6% £999,062,884 £1,041,232,215 -4.0% £3,346,754,224 £3,231,755,851 3.6%

Residential

Last Month Last Quarter Last Year:
July 2012 July 2011 Increase May 2012 – July 2012 May 2011 – July 2011 Increase August 2011 – July 2012 August 2010 – July 2011 Increase
Lots Offered 2,874 3,142 -8.5% 8,007 7,829 2.3% 26,948 26,060 3.4%
Lots Sold 1,994 2,205 -9.6% 5,679 5,610 1.2% 20,011 18,480 8.3%
Percent Sold 69.4% 70.2% -1.1% 70.9% 71.7% -1.1% 74.3% 70.9% 4.8%
Total Raised £238,238,380 £280,690,999 -15.1% £676,338,504 £697,050,368 -3.0% £2,319,402,775 £2,197,399,388 5.6%

Commercial

Last Month Last Quarter Last Year:
July 2012 July 2011 Increase May 2012 – July 2012 May 2011 – July 2011 Increase August 2011 – July 2012 August 2010 – July 2011 Increase
Lots Offered 888 874 1.6% 2,071 2,062 0.4% 6,541 6,182 5.8%
Lots Sold 627 608 3.1% 1,447 1,471 -1.6% 4,736 4,423 7.1%
Percent Sold 70.6% 69.6% 1.4% 69.9% 71.3% -2.0% 72.4% 71.5% 1.3%
Total Raised £134,947,049 £156,531,045 -13.8% £322,724,380 £344,181,847 -6.2% £1,027,351,449 £1,034,356,463 -0.7%

 

For more detailed information and a regional analysis please contact:

Essential Information Group, Charter House, 9 Castlefield Road, Reigate, Surrey, RH2 0SA
Website: http://www.eigroup.co.uk/
Telephone: +44 1737 226150

As Featured In:

[gs_logo]
Do NOT follow this link or you will be banned from the site!