Essential Auction News
January has traditionally been one of the quieter months for auctions, but there has been a significant uplift in New Year sales over the past few years. The year is already off to a flying start, with this January being marked as the busiest ever in auction history, both in terms of the number of properties coming to market increasing by 45.1% and the number selling under the hammer growing by 49.8%.
The primary reason for this shift this year is two of the major London auctioneers choosing to put on additional sales to kick off the year, in advance of their standard February dates. This indicates the increased appetite and demand for auctions, as we started to see grow at the end of last year and we have seen auctioneers choosing to add more dates into their calendars to cope with this influx.
Looking at the regional breakdown, many regions have benefitted from these additional auctions taking place, with most performance indicators showing an increase on last year. Those areas which have seen a slight dip in their January statistics have experienced this due to auction dates being rolled forward into early February, so we would expect to see added buoyancy in next months figures.
2024 is shaping up to be a busy time for auctions, and we are looking forward to seeing what the rest of the first Quarter brings for the industry.
Please note the newsletter can also be viewed online. Kind regards David Sandeman
davids@eigroup.co.uk P.S. Here at the Essential Information Group we maintain a database of virtually every property coming up for sale at auction as well as almost 900,000 lots that have been to auction in the past. It is fully searchable and allows you to identify properties coming up for sale that you might be interested in, and to see what similar properties have sold for in the past. If you would like a trial of our website, please register here. |
|
Overall Statistics January 2024 |
| Total Lots Offered |
1,464 |
| Total Lots Sold |
966 |
| Percent Sold |
66% |
| Total Realised |
£147,331,600 |
|
|
National Auction Analysis
OverallN.B. Figures in brackets denote the comparative period last year
|
January 2024 |
November 2023 to January 2024 |
February 2023 to January 2024 |
| Lots Offered |
1,464 (1,009) |
▲ 45.1% |
7,881 (7,248) |
▲ 8.7% |
36,487 (31,219) |
▲ 16.9% |
| Lots Sold |
966 (645) |
▲ 49.8% |
5,496 (4,795) |
▲ 14.6% |
25,668 (22,599) |
▲ 13.6% |
| Percent Sold |
66.0% (63.9%) |
▲ 3.3% |
69.7% (66.2%) |
▲ 5.3% |
70.3% (72.4%) |
▼ 2.9% |
| Total Raised |
£147.3M (£74.3M) |
▲ 98.3% |
£1,039.9M (£915.5M) |
▲ 13.6% |
£4,895.9M (£4,745.0M) |
▲ 3.2% |
ResidentialN.B. Figures in brackets denote the comparative period last year
|
January 2024 |
November 2023 to January 2024 |
February 2023 to January 2024 |
| Lots Offered |
1,340 (919) |
▲ 45.8% |
6,955 (6,428) |
▲ 8.2% |
31,980 (26,872) |
▲ 19.0% |
| Lots Sold |
904 (594) |
▲ 52.2% |
4,884 (4,218) |
▲ 15.8% |
22,499 (19,553) |
▲ 15.1% |
| Percent Sold |
67.5% (64.6%) |
▲ 4.5% |
70.2% (65.6%) |
▲ 7.0% |
70.4% (72.8%) |
▼ 3.3% |
| Total Raised |
£135.5M (£66.6M) |
▲ 103.4% |
£842.4M (£686.8M) |
▲ 22.7% |
£3,814.4M (£3,589.9M) |
▲ 6.3% |
CommercialN.B. Figures in brackets denote the comparative period last year
|
January 2024 |
November 2023 to January 2024 |
February 2023 to January 2024 |
| Lots Offered |
124 (90) |
▲ 37.8% |
926 (820) |
▲ 12.9% |
4,507 (4,347) |
▲ 3.7% |
| Lots Sold |
62 (51) |
▲ 21.6% |
612 (577) |
▲ 6.1% |
3,169 (3,046) |
▲ 4.0% |
| Percent Sold |
50.0% (56.7%) |
▼ 11.8% |
66.1% (70.4%) |
▼ 6.1% |
70.3% (70.1%) |
▲ 0.3% |
| Total Raised |
£11.9M (£7.7M) |
▲ 54.0% |
£197.5M (£228.7M) |
▼ 13.7% |
£1,081.4M (£1,155.1M) |
▼ 6.4% |
Regional Auction Analysis
As is usually the case, variations across all the measurable parameters can be seen across the regions.
N.B. Figures in brackets denote the comparative period last year
 East Anglia
(Includes Cambridgeshire, Norfolk, Suffolk)
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
385 (257) |
▲ 49.8% |
346 (224) |
▲ 54.5% |
39 (33) |
▲ 18.2% |
| Lots Sold |
281 (187) |
▲ 50.3% |
254 (162) |
▲ 56.8% |
27 (25) |
▲ 8.0% |
| Percent Sold |
73.0% (72.8%) |
▲ 0.3% |
73.4% (72.3%) |
▲ 1.5% |
69.2% (75.8%) |
▼ 8.7% |
| Total Raised |
£47.4M (£39.0M) |
▲ 21.5% |
£42.1M (£27.2M) |
▲ 54.5% |
£5.3M (£11.8M) |
▼ 54.8% |
 East Midlands
(Includes Derbyshire, Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland)
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
597 (567) |
▲ 5.3% |
521 (507) |
▲ 2.8% |
76 (60) |
▲ 26.7% |
| Lots Sold |
448 (387) |
▲ 15.8% |
386 (336) |
▲ 14.9% |
62 (51) |
▲ 21.6% |
| Percent Sold |
75.0% (68.3%) |
▲ 9.8% |
74.1% (66.3%) |
▲ 11.8% |
81.6% (85.0%) |
▼ 4.0% |
| Total Raised |
£74.0M (£65.8M) |
▲ 12.5% |
£59.0M (£49.0M) |
▲ 20.6% |
£15.0M (£16.8M) |
▼ 11.1% |
 London
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
567 (540) |
▲ 5.0% |
531 (466) |
▲ 13.9% |
36 (74) |
▼ 51.4% |
| Lots Sold |
426 (370) |
▲ 15.1% |
396 (309) |
▲ 28.2% |
30 (61) |
▼ 50.8% |
| Percent Sold |
75.1% (68.5%) |
▲ 9.6% |
74.6% (66.3%) |
▲ 12.5% |
83.3% (82.4%) |
▲ 1.1% |
| Total Raised |
£210.1M (£172.7M) |
▲ 21.7% |
£183.3M (£129.1M) |
▲ 42.0% |
£26.8M (£43.6M) |
▼ 38.4% |
 North-East
(Includes Cleveland, County Durham, Northumberland, Tyne and Wear)
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
644 (517) |
▲ 24.6% |
604 (496) |
▲ 21.8% |
40 (21) |
▲ 90.5% |
| Lots Sold |
491 (320) |
▲ 53.4% |
465 (303) |
▲ 53.5% |
26 (17) |
▲ 52.9% |
| Percent Sold |
76.2% (61.9%) |
▲ 23.1% |
77.0% (61.1%) |
▲ 26.0% |
65.0% (81.0%) |
▼ 19.8% |
| Total Raised |
£31.9M (£31.1M) |
▲ 2.5% |
£27.5M (£22.1M) |
▲ 24.8% |
£4.4M (£9.1M) |
▼ 51.6% |
 North-West
(Includes Cheshire, Cumbria, Isle of Man, Lancashire, Merseyside)
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,136 (1,178) |
▼ 3.6% |
1,036 (1,054) |
▼ 1.7% |
100 (124) |
▼ 19.4% |
| Lots Sold |
796 (759) |
▲ 4.9% |
727 (679) |
▲ 7.1% |
69 (80) |
▼ 13.8% |
| Percent Sold |
70.1% (64.4%) |
▲ 8.9% |
70.2% (64.4%) |
▲ 9.0% |
69.0% (64.5%) |
▲ 7.0% |
| Total Raised |
£93.8M (£89.2M) |
▲ 5.2% |
£77.1M (£67.8M) |
▲ 13.8% |
£16.7M (£21.4M) |
▼ 22.0% |
 North-West Home Counties
(Includes Bedfordshire, Berkshire, Buckinghamshire, Hertfordshire, Middlesex, Oxfordshire)
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
560 (448) |
▲ 25.0% |
495 (391) |
▲ 26.6% |
65 (57) |
▲ 14.0% |
| Lots Sold |
394 (300) |
▲ 31.3% |
351 (260) |
▲ 35.0% |
43 (40) |
▲ 7.5% |
| Percent Sold |
70.4% (67.0%) |
▲ 5.1% |
70.9% (66.5%) |
▲ 6.6% |
66.2% (70.2%) |
▼ 5.7% |
| Total Raised |
£111.4M (£83.3M) |
▲ 33.8% |
£87.4M (£60.9M) |
▲ 43.4% |
£24.1M (£22.4M) |
▲ 7.6% |
 Northern Ireland
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
58 (59) |
▼ 1.7% |
43 (44) |
▼ 2.3% |
15 (15) |
▼ 0.0% |
| Lots Sold |
25 (16) |
▲ 56.3% |
18 (11) |
▲ 63.6% |
7 (5) |
▲ 40.0% |
| Percent Sold |
43.1% (27.1%) |
▲ 59.0% |
41.9% (25.0%) |
▲ 67.6% |
46.7% (33.3%) |
▲ 40.2% |
| Total Raised |
£2.4M (£4.9M) |
▼ 50.3% |
£1.9M (£3.0M) |
▼ 37.1% |
£0.5M (£1.8M) |
▼ 72.1% |
 Scotland
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
310 (301) |
▲ 3.0% |
203 (214) |
▼ 5.1% |
107 (87) |
▲ 23.0% |
| Lots Sold |
108 (127) |
▼ 15.0% |
71 (87) |
▼ 18.4% |
37 (40) |
▼ 7.5% |
| Percent Sold |
34.8% (42.2%) |
▼ 17.5% |
35.0% (40.7%) |
▼ 14.0% |
34.6% (46.0%) |
▼ 24.8% |
| Total Raised |
£17.1M (£12.2M) |
▲ 39.3% |
£5.8M (£6.6M) |
▼ 10.9% |
£11.2M (£5.7M) |
▲ 97.1% |
 South-East Home Counties
(Includes Channel Islands, East Sussex, Essex, Hampshire, Isle of Wight, Kent, Surrey, West Sussex)
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
1,209 (995) |
▲ 21.5% |
1,095 (889) |
▲ 23.2% |
114 (106) |
▲ 7.5% |
| Lots Sold |
822 (639) |
▲ 28.6% |
741 (564) |
▲ 31.4% |
81 (75) |
▲ 8.0% |
| Percent Sold |
68.0% (64.2%) |
▲ 5.9% |
67.7% (63.4%) |
▲ 6.8% |
71.1% (70.8%) |
▲ 0.4% |
| Total Raised |
£184.0M (£150.8M) |
▲ 22.0% |
£155.1M (£119.9M) |
▲ 29.4% |
£28.9M (£30.9M) |
▼ 6.5% |
 South-West
(Includes Avon, Cornwall, Devon, Dorset, Gloucestershire, Isles of Scilly, Somerset, Wiltshire)
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
604 (530) |
▲ 14.0% |
501 (463) |
▲ 8.2% |
103 (67) |
▲ 53.7% |
| Lots Sold |
429 (373) |
▲ 15.0% |
356 (320) |
▲ 11.3% |
73 (53) |
▲ 37.7% |
| Percent Sold |
71.0% (70.4%) |
▲ 0.9% |
71.1% (69.1%) |
▲ 2.9% |
70.9% (79.1%) |
▼ 10.4% |
| Total Raised |
£86.1M (£82.5M) |
▲ 4.3% |
£69.5M (£66.1M) |
▲ 5.1% |
£16.6M (£16.4M) |
▲ 1.0% |
 Wales
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
440 (386) |
▲ 14.0% |
373 (342) |
▲ 9.1% |
67 (44) |
▲ 52.3% |
| Lots Sold |
288 (253) |
▲ 13.8% |
245 (226) |
▲ 8.4% |
43 (27) |
▲ 59.3% |
| Percent Sold |
65.5% (65.5%) |
▼ 0.0% |
65.7% (66.1%) |
▼ 0.6% |
64.2% (61.4%) |
▲ 4.6% |
| Total Raised |
£31.8M (£33.7M) |
▼ 5.5% |
£25.2M (£26.3M) |
▼ 3.9% |
£6.6M (£7.4M) |
▼ 11.2% |
 West Midlands
(Includes Herefordshire, Shropshire, Staffordshire, Warwickshire, West Midlands, Worcestershire)
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
711 (747) |
▼ 4.8% |
628 (660) |
▼ 4.8% |
83 (87) |
▼ 4.6% |
| Lots Sold |
515 (568) |
▼ 9.3% |
453 (500) |
▼ 9.4% |
62 (68) |
▼ 8.8% |
| Percent Sold |
72.4% (76.0%) |
▼ 4.7% |
72.1% (75.8%) |
▼ 4.9% |
74.7% (78.2%) |
▼ 4.5% |
| Total Raised |
£80.3M (£89.8M) |
▼ 10.6% |
£58.7M (£64.4M) |
▼ 8.8% |
£21.6M (£25.4M) |
▼ 15.2% |
 Yorkshire and The Humber
(Includes North Humberside, North Yorkshire, South Humberside, South Yorkshire, West Yorkshire)
| November 2023 to January 2024 |
Total |
Residential |
Commercial |
| Lots Offered |
660 (723) |
▼ 8.7% |
579 (678) |
▼ 14.6% |
81 (45) |
▲ 80.0% |
| Lots Sold |
473 (496) |
▼ 4.6% |
421 (461) |
▼ 8.7% |
52 (35) |
▲ 48.6% |
| Percent Sold |
71.7% (68.6%) |
▲ 4.5% |
72.7% (68.0%) |
▲ 6.9% |
64.2% (77.8%) |
▼ 17.5% |
| Total Raised |
£69.6M (£60.4M) |
▲ 15.1% |
£49.7M (£44.5M) |
▲ 11.7% |
£19.9M (£15.9M) |
▲ 24.7% |
Disclaimer: The figures in this newsletter are based on sales data provided to us by the auctioneers.
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