Positive end to 2012 for the UK property auction market reported by EIG

Positive end to 2012 for the UK property auction market reported by EIG

14:10 PM, 14th January 2013, About 9 years ago

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The Essential Information Group reports a positive end to 2012 for the UK property auction market reviewing auction activity in December and the year as a whole.

Overall results for the month were comparable to December 2011, with only marginal differences in the volume of lots being offered and sold. Interestingly the amount raised grew by over 12%, largely due to a particularly strong set of commercial results.

The yearly figures show that the property auction market enjoyed another positive year, with gains of around 5% made in lots offered, sold and amount raised, and our historic data also shows these to be at their highest levels in 4 years. The growth was mainly due to gains made in the residential sector, whilst the commercial market contracted slightly.

Essential Information Group are in the process of compiling their annual auction market review, which includes a detailed look at activity over the last 5 years and considers the outlook for 2013. This will be sent out shortly so do look out for it.

National Auction Analysis
As mentioned above, the commercial market fared better than the residential market in December, with lots offered and sold up 4% and 8% respectively. Commercial auction receipts grew by almost 30%, as the gavel fell on an increasing number of high value lots.

The residential sector had a great year overall, with lots offered growing by nearly 7% to 27,831 and lots sold by over 8% to 20,915. Amount raised increased by nearly 10%, as over £2.47bn worth of residential property sold at auction, and these encouraging figures should instil confidence and optimism to the market as we head into 2013.

Total

Last Month

Last Quarter

Last Year

December 2012 December 2011 Increase October 2012 – December 2012 October 2011 – December 2011 Increase January 2012 – December 2012 January 2011 – December 2011 Increase
Lots Offered

3,371

3,391

-0.6%

9,257

8,836

4.8%

34,065

32,612

4.5%

Lots Sold

2,469

2,448

0.9%

6,841

6,397

6.9%

25,539

24,125

5.9%

Percent Sold

73.2%

72.2%

1.4%

73.9%

72.4%

2.1%

75%

74%

1.4%

Total Raised

£379,550,738

£337,401,671

12.5%

£1,003,493,018

£911,164,126

10.1%

£3,498,282,379

£3,332,764,984

5.0%

 

Residential

Last Month

Last Quarter

Last Year

December 2012 December 2011 Increase October 2012 – December 2012 October 2011 – December 2011 Increase January 2012 – December 2012 January 2011 – December 2011 Increase
Lots Offered

2,710

2,744

-1.2%

7,258

6,828

6.3%

27,831

26,077

6.7%

Lots Sold

1,990

1,996

-0.3%

5,360

4,959

8.1%

20,915

19,312

8.3%

Percent Sold

73.4%

72.7%

1.0%

73.8%

72.6%

1.7%

75.2%

74.1%

1.5%

Total Raised

£245,393,095

£231,950,502

5.8%

£643,424,627

£575,193,696

11.9%

£2,474,354,246

£2,255,165,813

9.7%

 

Commercial

Last Month

Last Quarter

Last Year

December 2012 December 2011 Increase October 2012 – December 2012 October 2011 – December 2011 Increase January 2012 – December 2012 January 2011 – December 2011 Increase
Lots Offered

661

634

4.3%

1,999

1,987

0.6%

6,234

6,535

-4.6%

Lots Sold

479

444

7.9%

1,481

1,429

3.6%

4,626

4,813

-3.9%

Percent Sold

72.5%

70%

3.6%

74.1%

71.9%

3.1%

74.2%

73.6%

0.8%

Total Raised

£134,157,643

£104,733,669

28.1%

£360,068,391

£335,222,430

7.4%

£1,024,063,133

£1,077,599,171

-5.0%

Regional Auction Analysis

As is usually the case, variations across all the measurable parameters can be seen across the regions.

East Anglia

Total

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

291

281

3.6%

Lots Sold

225

217

3.7%

Percent Sold

77.3%

77.2%

0.1%

Total Raised

£31,244,350

£30,509,000

2.4%

 

Residential

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

239

210

13.8%

Lots Sold

183

165

10.9%

Percent Sold

76.6%

78.6%

-2.5%

Total Raised

£21,561,350

£19,792,500

8.9%

 

Commercial

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

52

71

-26.8%

Lots Sold

42

52

-19.2%

Percent Sold

80.8%

73.2%

10.4%

Total Raised

£9,683,000

£10,716,500

-9.6%

 

East Midlands

Total

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

731

689

6.1%

Lots Sold

553

526

5.1%

Percent Sold

75.6%

76.3%

-0.9%

Total Raised

£68,748,355

£59,654,263

15.2%

 

Residential

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

594

506

17.4%

Lots Sold

452

396

14.1%

Percent Sold

76.1%

78.3%

-2.8%

Total Raised

£39,690,105

£33,426,463

18.7%

 

Commercial

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

137

183

-25.1%

Lots Sold

101

130

-22.3%

Percent Sold

73.7%

71%

3.8%

Total Raised

£29,058,250

£26,227,800

10.8%

 

London

Total

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

801

815

-1.7%

Lots Sold

668

669

-0.1%

Percent Sold

83.4%

82.1%

1.6%

Total Raised

£229,823,145

£205,459,975

11.9%

 

Residential

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

714

683

4.5%

Lots Sold

598

565

5.8%

Percent Sold

83.8%

82.7%

1.3%

Total Raised

£195,819,645

£148,962,375

31.5%

 

Commercial

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

87

132

-34.1%

Lots Sold

70

104

-32.7%

Percent Sold

80.5%

78.8%

2.2%

Total Raised

£34,003,500

£56,497,600

-39.8%

 

North-East

Total

October 2012 – December 2012 October 2011 – December 2011 Increase
Lots Offered

803

681

17.9%

Lots Sold

574

487

17.9%

Percent Sold

71.5%

71.5%

0.0%

Total Raised

£46,138,438

£41,627,700

10.8%

Guide To Buying Property At AuctionPopular feedback from our landlords survey was to create a page on Property118 with a “Guide to Buying At Auction”.

We went one better and spoke to our friends at Essential Information Group “EIG” who monitor the sales prices of over 35,000 properties sold every year at auction in over 1,700 auctions. EIG have already produced a comprehensive guide to buying property at auction and have authorised Property118 to distribute it in PDF form FREE OF CHARGE to our readers.

To download your copy, and also to benefit from a free trial of the EIG services, used by thousands of property auction purchasers including Property118 founder Mark Alexander, please complete the short form below.

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