Property auction results record 6-year highs in February

by Property 118

5 years ago

Property auction results record 6-year highs in February

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Property auction results record 6-year highs in February

Property Auction SearchProperty auction results record 6-year highs in February with total sales of £445,455,076

David Sandeman Managing Director of EIG reports that the overall market figures are positive, with increases made in almost every parameter across both residential and commercial sectors.

A noticable highlight is that 3,083 lots sold last month marking a rise of over 8% on February 2012, and significantly this stands as the largest volume recorded in February since 2007. The amount raised also made considerable gains in both the monthly and rolling quarterly figures – up 8.6% and 11.2% respectively, and equally these are at levels not seen since the height of the property boom some 5 to 6 years ago.

National Auction Analysis

In the residential sector the market continues to demonstrate positive growth, particularly in auction sales and receipts. The soaring sale rate of 79% indicates a confident and competitive marketplace, with an increasing demand for keenly priced lots from cash-ready buyers.

The commercial market also continues to gain strength, with increases made in all 8 of the metrics that are measured in the monthly and quarterly figures, 6 of which are double-digit rises. For February alone lots offered was up over 16%, lots sold up 23% and amount raised up 17% , and you have to look all the way back to February 2008 to find this level of commercial market activity.

Total

Last Month

Last Year

February 2013 February 2012 Increase March 2012 – February 2013 March 2011 – February 2012 Increase
Lots Offered

3,965

3,923

1.1%

34,118

32,991

3.4%

Lots Sold

3,086

2,852

8.2%

25,641

24,402

5.1%

Percent Sold

77.8%

72.7%

7.0%

75.2%

74%

1.6%

Total Raised

£445,455,076

£409,897,643

8.7%

£3,501,273,334

£3,343,556,853

4.7%

 

Residential

Last Month

Last Year

February 2013 February 2012 Increase March 2012 – February 2013 March 2011 – February 2012 Increase
Lots Offered

3,135

3,212

-2.4%

27,753

26,443

5.0%

Lots Sold

2,480

2,361

5.0%

20,932

19,606

6.8%

Percent Sold

79.1%

73.5%

7.6%

75.4%

74.1%

1.8%

Total Raised

£309,334,000

£293,820,404

5.3%

£2,479,247,174

£2,289,558,674

8.3%

 

Commercial

Last Month

Last Year

February 2013 February 2012 Increase March 2012 – February 2013 March 2011 – February 2012 Increase
Lots Offered

830

711

16.7%

6,365

6,548

-2.8%

Lots Sold

606

491

23.4%

4,709

4,796

-1.8%

Percent Sold

73%

69.1%

5.6%

74%

73.2%

1.1%

Total Raised

£136,121,076

£116,077,239

17.3%

£1,022,026,160

£1,053,998,179

-3.0%

You are welcome to use the Property Auction Search tool we have developed in conjunction with EIG – the Essential Information Group.

Regional Auction Analysis

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

East Anglia

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

228

191

19.4%

Lots Sold

181

143

26.6%

Percent Sold

79.4%

74.9%

6.0%

Total Raised

£28,438,745

£16,717,500

70.1%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

189

145

30.3%

Lots Sold

148

111

33.3%

Percent Sold

78.3%

76.6%

2.2%

Total Raised

£17,701,245

£11,440,500

54.7%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

39

46

-15.2%

Lots Sold

33

32

3.1%

Percent Sold

84.6%

69.6%

21.6%

Total Raised

£10,737,500

£5,277,000

103.5%

 

East Midlands

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

628

546

15.0%

Lots Sold

484

414

16.9%

Percent Sold

77.1%

75.8%

1.7%

Total Raised

£52,045,250

£43,571,453

19.4%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

528

448

17.9%

Lots Sold

411

349

17.8%

Percent Sold

77.8%

77.9%

-0.1%

Total Raised

£35,478,000

£28,978,153

22.4%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

100

98

2.0%

Lots Sold

73

65

12.3%

Percent Sold

73%

66.3%

10.1%

Total Raised

£16,567,250

£14,593,300

13.5%

 

London

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

815

780

4.5%

Lots Sold

706

650

8.6%

Percent Sold

86.6%

83.3%

4.0%

Total Raised

£238,359,008

£203,794,750

17.0%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

722

677

6.6%

Lots Sold

632

572

10.5%

Percent Sold

87.5%

84.5%

3.6%

Total Raised

£196,284,008

£167,254,750

17.4%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

93

103

-9.7%

Lots Sold

74

78

-5.1%

Percent Sold

79.6%

75.7%

5.2%

Total Raised

£42,075,000

£36,540,000

15.1%

 

North-East

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

922

755

22.1%

Lots Sold

683

566

20.7%

Percent Sold

74.1%

75%

-1.2%

Total Raised

£50,960,820

£47,764,044

6.7%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

853

693

23.1%

Lots Sold

641

524

22.3%

Percent Sold

75.1%

75.6%

-0.7%

Total Raised

£45,095,320

£40,516,194

11.3%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

69

62

11.3%

Lots Sold

42

42

0.0%

Percent Sold

60.9%

67.7%

-10.0%

Total Raised

£5,865,500

£7,247,850

-19.1%

 

Northern Ireland

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

228

140

62.9%

Lots Sold

168

79

112.7%

Percent Sold

73.7%

56.4%

30.7%

Total Raised

£7,559,150

£4,880,000

54.9%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

222

120

85.0%

Lots Sold

165

68

142.6%

Percent Sold

74.3%

56.7%

31.0%

Total Raised

£7,364,150

£4,101,500

79.5%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

6

20

-70.0%

Lots Sold

3

11

-72.7%

Percent Sold

50%

55%

-9.1%

Total Raised

£195,000

£778,500

-75.0%

 

North-West

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

1,424

1,751

-18.7%

Lots Sold

1,051

1,208

-13.0%

Percent Sold

73.8%

69%

7.0%

Total Raised

£86,586,340

£94,450,364

-8.3%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

1,108

1,380

-19.7%

Lots Sold

839

964

-13.0%

Percent Sold

75.7%

69.9%

8.3%

Total Raised

£56,527,267

£62,661,554

-9.8%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

316

371

-14.8%

Lots Sold

212

244

-13.1%

Percent Sold

67.1%

65.8%

2.0%

Total Raised

£30,059,073

£31,788,810

-5.4%

 

North-West Home Counties

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

304

293

3.8%

Lots Sold

245

248

-1.2%

Percent Sold

80.6%

84.6%

-4.7%

Total Raised

£75,040,090

£62,851,600

19.4%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

222

229

-3.1%

Lots Sold

176

189

-6.9%

Percent Sold

79.3%

82.5%

-3.9%

Total Raised

£34,903,390

£37,093,600

-5.9%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

82

64

28.1%

Lots Sold

69

59

16.9%

Percent Sold

84.1%

92.2%

-8.8%

Total Raised

£40,136,700

£25,758,000

55.8%

 

Scotland

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

240

253

-5.1%

Lots Sold

111

94

18.1%

Percent Sold

46.3%

37.2%

24.5%

Total Raised

£9,394,500

£6,407,655

46.6%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

186

208

-10.6%

Lots Sold

80

79

1.3%

Percent Sold

43%

38%

13.2%

Total Raised

£3,989,650

£5,185,155

-23.1%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

54

45

20.0%

Lots Sold

31

15

106.7%

Percent Sold

57.4%

33.3%

72.4%

Total Raised

£5,404,850

£1,222,500

342.1%

 

South-East Home Counties

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

877

860

2.0%

Lots Sold

707

664

6.5%

Percent Sold

80.6%

77.2%

4.4%

Total Raised

£134,998,811

£135,121,539

-0.1%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

635

693

-8.4%

Lots Sold

516

538

-4.1%

Percent Sold

81.3%

77.6%

4.8%

Total Raised

£73,625,311

£81,475,639

-9.6%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

242

167

44.9%

Lots Sold

191

126

51.6%

Percent Sold

78.9%

75.4%

4.6%

Total Raised

£61,373,500

£53,645,900

14.4%

 

South-West

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

402

447

-10.1%

Lots Sold

296

315

-6.0%

Percent Sold

73.6%

70.5%

4.4%

Total Raised

£43,720,756

£45,498,790

-3.9%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

286

349

-18.1%

Lots Sold

205

240

-14.6%

Percent Sold

71.7%

68.8%

4.2%

Total Raised

£27,831,700

£30,838,351

-9.7%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

116

98

18.4%

Lots Sold

91

75

21.3%

Percent Sold

78.4%

76.5%

2.5%

Total Raised

£15,889,056

£14,660,439

8.4%

 

Wales

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

412

376

9.6%

Lots Sold

303

277

9.4%

Percent Sold

73.5%

73.7%

-0.3%

Total Raised

£25,466,900

£22,083,244

15.3%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

271

309

-12.3%

Lots Sold

197

233

-15.5%

Percent Sold

72.7%

75.4%

-3.6%

Total Raised

£15,611,800

£14,613,160

6.8%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

141

67

110.4%

Lots Sold

106

44

140.9%

Percent Sold

75.2%

65.7%

14.5%

Total Raised

£9,855,100

£7,470,084

31.9%

 

West Midlands

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

638

670

-4.8%

Lots Sold

496

438

13.2%

Percent Sold

77.7%

65.4%

18.8%

Total Raised

£59,535,573

£43,751,050

36.1%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

498

548

-9.1%

Lots Sold

392

365

7.4%

Percent Sold

78.7%

66.6%

18.2%

Total Raised

£36,776,633

£30,729,550

19.7%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

140

122

14.8%

Lots Sold

104

73

42.5%

Percent Sold

74.3%

59.8%

24.2%

Total Raised

£22,758,940

£13,021,500

74.8%

 

Yorkshire and The Humber

Total

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

749

782

-4.2%

Lots Sold

564

571

-1.2%

Percent Sold

75.3%

73%

3.2%

Total Raised

£55,805,440

£53,142,009

5.0%

 

Residential

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

611

649

-5.9%

Lots Sold

468

473

-1.1%

Percent Sold

76.6%

72.9%

5.1%

Total Raised

£41,213,690

£38,370,434

7.4%

 

Commercial

December 2012 – February 2013 December 2011 – February 2012 Increase
Lots Offered

138

133

3.8%

Lots Sold

96

98

-2.0%

Percent Sold

69.6%

73.7%

-5.6%

Total Raised

£14,591,750

£14,771,575

-1.2%



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