The residential market kept the auctions sector moving during the traditional industry holiday period, with almost £110m raised in August.
This was up 7% on August 2021, according to the latest data from Essential Information Group. A total of 588 residential lots sold at auction during the month, 87 more than last year.
Residential accounted for more 90% of revenue raised at auction in August, with only 74 commercial lots being offered. Of these, 49 lots found buyers and a total of £7.8m was raised. Commercial revenue was down 16% on August 2021. However, the rolling total from commercial stock for the year is up 10%, with more than £1bn raised since September 2021.
A total of 30 auctions were held during August, up from 27 last year. Of 849 lots offered, 637 found buyers – a 75% success rate. The total raised across the sectors was more than £117m, up 5% year-on-year.
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