David Sandeman reports on recent auction activity and results:

In last month’s newsletter I reported on a subdued set of auction results in April, so I am pleased to see that the market bounced back in May. The residential auction sector performed particularly strongly in May, with a 10 per cent rise in lots offered (2,560 to 2,806) and a six per cent rise in lots sold (1,945 to 2,070). Residential revenues increased 5.4 per cent, to £357,000,000, which is a welcome return following the 12 per cent losses seen in April.

Residential Auctions

Residential Lots offered: 2806 (2560 in May 2017)
Lots Sold: 2,070 (1945 in May 2017)
Percent Sold: 73.8 per cent (76 per cent in May 2017)
Total raised: £357m (£338m in May 2017)