Property auction results record 6-year highs in February

9:01 AM, 13th March 2013, About 12 years ago

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Property 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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