Auction markets remaining resilient and reporting steady growth
Essential Information Group’s David Sandeman says that the property auction market's overall realised value stands at over £572.9 million.
The UK property auction market is remaining resilient despite wider market turbulence with latest figures from Essential Information Group showing another strong month in September.
David Sandeman (main picture), Director of Essential Information Group, says last month’s figures underscore the resilience and buoyancy of the UK property auction market.
CONSISTENT GROWTH
And he adds: “This consistent growth trend is indicative of a market that remains strong despite external uncertainties.”
Nationally, the total lots offered reached 4,175, showing a 16.7% increase from the corresponding period last year. Similarly, the lots sold saw a rise of 13.7%, totalling 2,971.
However the percentage sold, while slightly decreased from the previous year, remains strong at 71.2% and the market’s overall realised value stands at over £572.9 million.
The auction market not only endures challenges but thrives in the face of them.”
Sandeman says: “These numbers paint a picture of a property auction market that not only endures challenges but thrives in the face of them. The total raised is a testament to the market’s unwavering strength in a wider turbulent property market.”
SPOTLIGHT
Breaking down the figures into residential and commercial segments, the residential market steals the spotlight with a 20.8% increase in lots offered and a 17.9% rise in lots sold.
Meanwhile the commercial sector experienced a decline in both lots offered (5.1%) and lots sold (8.7%).
Sandeman adds: “Our data reflects the diversity of the UK property landscape. While some regions experience robust growth, others face unique challenges, offering a nuanced perspective for investors and stakeholders.
“The data indicates a market that not only withstands challenges but presents opportunities for those who navigate it wisely.”
