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TODAY'S OTHER NEWS

Fewer properties sold under the hammer as market continues to cool

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) ▼ 4.1%
Lots sold 2,327 (2,406) ▼ 3.3%
Percent sold 74.3% (73.7%) ▲ 0.8%
Total raised £444M (£518M) ▼ 14.3%
  August 2016 to October 2016  
Lots offered 7,873 (7,977) ▼ 1.3%
Lots sold 5,749 (5,863) ▼ 1.9%
Percent sold 73.0% (73.5%) ▼ 0.7%
Total raised £914M (£998M) ▼ 8.5%
  November 2015 to October 2016  
Lots offered 33,652 (32,968) ▲ 2.1%
Lots sold 25,537 (25,147) ▲ 1.6%
Percent sold 75.9% (76.3%) ▼ 0.5%
Total raised £4,557M (£4,238M) ▲ 7.5%

Residential

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

  October 2016  
Lots offered 2,300 (2,465) ▼ 6.7%
Lots sold 1,679 (1,790) ▼ 6.2%
Percent sold 73.0% (72.6%) ▲ 0.6%
Total raised £233M (£295M) ▼ 20.9%
  August 2016 to October 2016  
Lots offered 6,454 (6,573) ▼ 1.8%
Lots sold 4,686 (4,824 ▼ 2.9%
Percent sold 72.6% (73.4%) ▼ 1.1%
Total raised £647M (£723M) ▼ 10.5%
  November 2015 to October 2016  
Lots offered 27,754 (26,530) ▲ 4.6%
Lots sold 20,943 (20,107) ▲ 4.2%
Percent sold 75.5% (75.8%) ▼ 0.4%
Total raised £3,204M (£2,972M) ▲ 7.8%

Commercial

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

  October 2016  
Lots offered 833 (801) ▲ 4.0%
Lots sold 648 (616) ▲ 5.2%
Percent sold 77.8% (76.9%) ▲ 1.2%
Total raised £210M (£222M) ▼ 5.5%
  August 2016 to October 2016  
Lots offered 1,419 (1,404) ▲ 1.1%
Lots sold 1,063 (1,039) ▲ 2.3%
Percent sold 74.9% (74.0%) ▲ 1.2%
Total raised £266M (£275M) ▼ 3.2%
  November 2015 to October 2016  
Lots offered 5,898 (6,438) ▼ 8.4%
Lots sold 4,594 (5,040) ▼ 8.8%
Percent sold 77.9% (78.3%) ▼ 0.5%
Total raised £1,352M (£1,266M) ▲ 6.8%
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