{"id":2822,"date":"2017-06-28T14:14:49","date_gmt":"2017-06-28T14:14:49","guid":{"rendered":"http:\/\/poseidon-gp.com\/property\/?p=2822"},"modified":"2017-06-28T14:14:49","modified_gmt":"2017-06-28T14:14:49","slug":"uk-property-auction-activity-is-strong-and-stable-despite-political-instability","status":"publish","type":"post","link":"https:\/\/poseidon-gp.com\/property\/uk-property-auction-activity-is-strong-and-stable-despite-political-instability\/","title":{"rendered":"UK property auction activity is \u2018strong and stable\u2019 despite political instability"},"content":{"rendered":"

\"\"<\/p>\n

Investment activity in residential property across the UK continued to perform well despite the political uncertainty from a snap general election.<\/p>\n

Some to 2,422 lots were sold last month, up 2% compared with May 2016, representing a rather healthy 75.7% sale rate, according to the latest figures provided by the Essential Information Group (EIG).<\/p>\n

Despite the unexpected news of a hung parliament, EIG\u2019s managing director, David Sandeman, said that he was \u201cpleased to report on a set of auction results that are largely strong and stable!\u201d<\/p>\n

The residential sector performed extremely well last month, with lots offered up almost 5% to 2,560 lots and lots sold up almost 10% to 1,945 lots. The amount realised from residential sales totalled \u00a3338m, up \u00a327m, or 8.9%, from the \u00a3311m raised in May 2016.<\/p>\n

The rolling quarterly figures provided by EIG, which had shown double-digit falls in April, now show only marginal falls in lots offered and sold and positive growth in both the sale rate – up 1.6% to 75%, while the amount raised as up 0.6% to \u00a3808m.<\/p>\n

But while demand for residential property has increased, the commercial sector endured a challenging month, with lots offered and sold falling by 15% and 20% respectively and the amount raised dropping by 16% to \u00a3179m.<\/p>\n

\u201cOne hopes that this was merely a blip in what has otherwise been a reasonably steady year to date for commercial auctions,\u201d Sandeman concluded.<\/p>\n

Overall Statistics May 2017<\/strong><\/h2>\n

Auctions Held in the UK\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0130
\nTotal Lots Offered\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 3,199
\nTotal Lots Sold\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a02,422
\nPercent Sold\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 75.7%
\nTotal Realised\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a3517,003,228<\/p>\n","protected":false},"excerpt":{"rendered":"

Investment activity in residential property across the UK continued to perform well despite the political uncertainty from a snap general election. Some to 2,422 lots were sold last month, up 2% compared with May 2016, representing a rather healthy 75.7% sale rate, according to the latest figures provided by the Essential Information Group (EIG). Despite […]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2822","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-Jw","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/2822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=2822"}],"version-history":[{"count":0,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/2822\/revisions"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=2822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=2822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=2822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}