STAY CONNECTED!
    
newsletter-button

TODAY'S OTHER NEWS

ValPal
UK’s property auctions market softens

Attracted by the prospect of no property chain, with buyers and sellers entering into an immediate and legally binding contract as soon as the gavel falls, auction rooms across the UK are regularly filled with investors looking for their next property acquisition, but the market is currently quiet – very quiet.

The number of property auction lots offered dropped by 7.6% last month, from 2,341 lots to 2,163 lots, whilst lots sold fell over 10% to 1,591 lots from 1,774 in November 2015, according to the latest figures.

Despite the dip in sales, the data from Essential Information Group (EIG) shows that auctioneers saw revenues increase by 2%, from £272m to £277m.

The residential auction sector saw a 1.1% fall in lots offered last month, from 1,990 to 1,969, while the number of lots sold fell by 4.7% from 1,508 to 1,437, and yet residential revenues were up 7%, from £239m to £255m. 

“These results are indicative of the market’s form over the last six to nine months, and are perhaps unsurprising given that the economic and political backdrop has changed markedly during this period,” said David Sandeman at EIG. 

“It would be a brave man to predict what the future holds in 2017, but one can be sure that auctions will continue to provide a quick, transparent and effective means of buying and selling property,” he added. 

Overall Statistics November 2016
Auctions Held in the UK 118
Total Lots Offered 2,163
Total Lots Sold 1,591
Percent Sold 73.6%
Total Realised £277,370,001

Overall

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

 

November 2016

September to November 2016

December 2015 to November 2016

Lots Offered

2,163 (2,341)

▼ 7.6%

9,042 (9,516)

▼ 5.0%

33,437 (33,351)

▲ 0.3%

Lots Sold

1,591 (1,774)

▼ 10.3%

6,663 (7,132)

▼ 6.6%

25,299 (25,516)

▼ 0.9%

Percent Sold

73.6% (75.8%)

▼ 2.9%

73.7% (74.9%)

▼ 1.6%

75.7% (76.5%)

▼ 1.0%

Total Raised

£277M (£272M)

▲ 2.0%

£1,131M (£1,227M)

▼ 7.8%

£4,552M (£4,347M)

▲ 4.7%

Residential

 

November 2016

September to November 2016

December 2015 to November 2016

Lots Offered

1,969 (1,990)

▼ 1.1%

7,503 (7,830)

▼ 4.2%

27,697 (26,835)

▲ 3.2%

Lots Sold

1,437 (1,508)

▼ 4.7%

5,496 (5,860)

▼ 6.2%

20,814 (20,411)

▲ 2.0%

Percent Sold

73.0% (75.8%)

▼ 3.7%

73.3% (74.8%)

▼ 2.0%

75.1% (76.1%)

▼ 1.3%

Total Raised

£255M (£239M)

▲ 7.0%

£846M (£922M)

▼ 8.2%

£3,212M (£3,070M)

▲ 4.6%


Commercial

 

November 2016

September to November 2016

December 2015 to November 2016

Lots Offered

194 (351)

▼ 44.7%

1,539 (1,686)

▼ 8.7%

5,740 (6,516)

▼ 11.9%

Lots Sold

154 (266)

▼ 42.1%

1,167 (1,272)

▼ 8.3%

4,485 (5,105)

▼ 12.1%

Percent Sold

79.4% (75.8%)

▲ 4.7%

75.8% (75.4%)

▲ 0.5%

78.1% (78.3%)

▼ 0.3%

Total Raised

£22M (£33M)

▼ 34.1%

£285M (£305M)

▼ 6.5%

£1,341M (£1,278M)

▲ 4.9%

  • dan tyldesley

    Great article.

    We believe 2017 will be a successful year, however it may be difficult.

    There are plenty of investors & businesspersons who have the funding to capitalise on the current climate.

    We wish you all a successful 2017!

    From all at DT Property Auctions Coventry.

    dan tyldesley

    www.dtpropertyauctions.co.uk

     
icon

Please login to comment

imgcollapse
sign up