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% |
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