September’s auction results show the most positive picture for auctions since the Covid-19 pandemic began.
The latest data from Essential Information Group shows that the sector sold £469.6m of property in September, up almost 40% on the same month last year.
The number of lots offered and sold were down slightly, indicating higher individual lot sizes. The success rate improved year-on-year from 74% to 78%.
The figures include several additional September sales, notably Allsop Commercial, which raised £43m, and Acuitus, which raised £28m.
However, when these are stripped out, the month still shows an increase of almost 18% in the value of stock sold when compared with September 2019.
EIG said that 16 of the 36 metrics it covers showed an increase in percentage value in September, the most positive picture it has seen since Covid-19 broke out.
EIG managing director David Sandeman said: “The metrics clearly indicate that the industry is not only coping with Covid-19 and all the challenges it throws up, but indeed increasing the value of sales, and demonstrating that it has a robust way forward to continue selling by auction in these strange times.”
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