Fewer properties sold under the hammer as market continues to cool

Fewer properties sold under the hammer as market continues to cool

Todays other news
A popular northern city has been named the UK property...
New data from Hamptons shows a massive rise in service...
The data has been produced by high end estate agency...
Even the likes of Croydon is now seeing prime-priced property...
The call has come from the British Property Federation...


Property auction market activity continued to slow in October, with the number of lots offered and lots sold both falling by 4.1% and 3.3% respectively last month, compared with the same month last year, whilst the overall amount raised dropped by £72m – down 14.3% year-on-year, according to the latest figures. 

The annual fall in auction activity partly reflects the fact that 150 auctions were held across the UK last month, 12 fewer than in October 2015, with the total amount raised last month falling to £444m, down from £518m in October last year. 

“It is perhaps unsurprising to see a fall in both lots offered and lots sold when compared with last year,” said David Sandeman at EIG. 

Overall Statistics October 2016
Auctions Held in the UK 150
Total Lots Offered 3,133
Total Lots Sold 2,327
Percent Sold 74.3%
Total Realised £443,558,195

 

Total

N.B. Figures in brackets denote the comparative period last year

  October 2016  
Lots offered 3,133 (3,266) â–¼ 4.1%
Lots sold 2,327 (2,406) â–¼ 3.3%
Percent sold 74.3% (73.7%) â–² 0.8%
Total raised £444M (£518M) â–¼ 14.3%

 

  August 2016 to October 2016  
Lots offered 7,873 (7,977) â–¼ 1.3%
Lots sold 5,749 (5,863) â–¼ 1.9%
Percent sold 73.0% (73.5%) â–¼ 0.7%
Total raised £914M (£998M) â–¼ 8.5%

 

  November 2015 to October 2016  
Lots offered 33,652 (32,968) â–² 2.1%
Lots sold 25,537 (25,147) â–² 1.6%
Percent sold 75.9% (76.3%) â–¼ 0.5%
Total raised £4,557M (£4,238M) â–² 7.5%

 

Residential

N.B. Figures in brackets denote the comparative period last year

 

  October 2016  
Lots offered 2,300 (2,465) â–¼ 6.7%
Lots sold 1,679 (1,790) â–¼ 6.2%
Percent sold 73.0% (72.6%) â–² 0.6%
Total raised £233M (£295M) â–¼ 20.9%

 

  August 2016 to October 2016  
Lots offered 6,454 (6,573) â–¼ 1.8%
Lots sold 4,686 (4,824 â–¼ 2.9%
Percent sold 72.6% (73.4%) â–¼ 1.1%
Total raised £647M (£723M) â–¼ 10.5%

 

  November 2015 to October 2016  
Lots offered 27,754 (26,530) â–² 4.6%
Lots sold 20,943 (20,107) â–² 4.2%
Percent sold 75.5% (75.8%) â–¼ 0.4%
Total raised £3,204M (£2,972M) â–² 7.8%

 

Commercial

N.B. Figures in brackets denote the comparative period last year

 

  October 2016  
Lots offered 833 (801) â–² 4.0%
Lots sold 648 (616) â–² 5.2%
Percent sold 77.8% (76.9%) â–² 1.2%
Total raised £210M (£222M) â–¼ 5.5%

 

  August 2016 to October 2016  
Lots offered 1,419 (1,404) â–² 1.1%
Lots sold 1,063 (1,039) â–² 2.3%
Percent sold 74.9% (74.0%) â–² 1.2%
Total raised £266M (£275M) â–¼ 3.2%

 

  November 2015 to October 2016  
Lots offered 5,898 (6,438) â–¼ 8.4%
Lots sold 4,594 (5,040) â–¼ 8.8%
Percent sold 77.9% (78.3%) â–¼ 0.5%
Total raised £1,352M (£1,266M) â–² 6.8%

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Property Investor Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Unusual commercial lots under the hammer next week...
A stone-built former retail showroom, together with 22 apartments and...
The UK’s largest property auction house, Allsop, raised £34m from...
A Nottingham care home which closed in June is to...
Spain’s draconian new tax is already spooking British investors...
The Budget has forced a revision of forecasts for the...
Prices and sales volumes will grow in 2025 despite the...
Recommended for you
Latest Features
A popular northern city has been named the UK property...
New data from Hamptons shows a massive rise in service...
The data has been produced by high end estate agency...
Sponsored Content
As the property industry shifts towards sustainable practices, Inspired Property...
Are you concerned about rising interest rates and their potential...
In the ever-evolving landscape of property investment, staying ahead of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here