Overall, 3,432 property lots made it to auction in April, compared to 4,222 in March. However, annually, this represented a 9% increase, data from the Essential Information Group shows.
Lots sold fell from 2,897 to 2,216 month-on-month, which lowered the percentage of sold properties from 68.6% to 64.6% and total capital raised from £559m to £382m.
Residential activity
Just over 3,000 residential properties were offered at auction houses across the country, an 11.9% year-on-year increase but 18% down on March activity, when 3,776 lots were offered.
Sales reached 2,014, down 22% from 2,582 in the previous month but up 7.8% on the previous year, which brought conversion rates down from 68% to 65% month-on-month.
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The total funds raised from the sale of residential properties at auction was £333.7m.
Commercial property
The volume of commercial property coming to auction fell by 23% month-on-month from 446 lots to 342. This was also low compared to last April, when 375 lots were listed for sale.
Sales fell from 315 to 202 between March and April and were once again down year-on-year, when 271 successfully changed hands. Consequently, the sales conversion rate fell from 70.6% in March to 59.1% in April and the capital raised fell from £128.2m to £48.3m.
The North West was the most active region for residential and commercial combined, with 1,767 lots offered, 1,235 sold and a conversion rate of 70%. Just over £161m was raised.
