November auction activity dips

Over the past 12-18 months rising house prices have been driving auction revenues skywards and the figures below show this trend continues with gains of 6, 12 and 15 per cent in the monthly, quarterly and yearly total raised comparisons. EIG’s David Sandeman (right) commented: “Activity in the residential auction market was largely comparable to November 2013, with lots offered slightly up [1.5 per cent] and lots sold marginally down [-1.9 per cent] on figures for 2013. The residential total amount raised increased by over 12 per cent in the monthly comparisons, and over 14 percent in the quarterly and yearly comparisons – the third consecutive month that we have seen double-digit rises in this regard.” Auction House Auction House saw an improved success rate of 76.2 per cent in November with 144 properties sold, raising a total of £12.9 million, the company’s latest figures show. In total, the firm achieved 2,659 sales in the first 11 months of 2014 with over £312 million raised. Auction House’s Roger Lake said: “To have posted cumulative sales up by over 15 per cent this year is really gratifying. It also shows that the auctions market is healthy and strengthening, which is good…