Commentary
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Auction stats are a really useful indicator of what's happening in a poor buying/selling market. Up until October 2008, auctioneers were suffering a lack of sales, just like the normal market. However from October auction houses have been selling properties like hot cakes, albeit the value of sales is down.
According to David Sandeman of EIGROUP: "The key factor for February 2009 has been the increase in the overall sale rate to 74%. This is the highest it has been for exactly 2 years (February 2007 was 78%) and shows five months of increased activity, albeit at a lower value.
David contiinues: "There is no reason why this sales level cannot be sustained in this market so long as vendors are realistic about their expectations, and continue to use auctions as a viable means to sell property in this market." READ MORE in the EIGroup and RAPID update
Headline Statistics for Residential Auctions
These statistics are provided courtesty of EIGROUP and are produced in detail by region.
| Quarterly Auction Headlines | Dec 08 - Feb 09 | Dec 07- Feb 08 | YoY +/- |
| Lots Offered | 6,021 | 6,021 | -7.6% |
| Lots Sold | 4,345 | 4,484 | -3.1% |
| Percentage Sold | 72% | 69% | +4.9% |
Useful Resources
EIGROUP SAVILLSFor more market commentary on a national or local level:-
Contact Kate Faulkner on 07974 750562 or 0845 838 1763. To read more about Kate, please visit
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