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