BOTH the national and North West property auction markets are showing a sharp year-on-year increase in both lots offered and sold.

Latest figures from the Essential Information Group (EIG), the UK’s leading source of auction data, show increases in both commercial and residential sales.

In the North West in the three months to the end of July, the total number of lots offered was 1,682 – a 30.9% increase on the same period last year.

There were 1,119 lots sold, against 821 last year – a rise of 36.3%. The percentage of lots sold also rose from 63.9% to 66.5% with receipts totalling more than £74.1m – a rise of 38.2%.

Residential lots and sales saw the biggest rises years-on-year. There was a 33.6% rise in the number of lots to 1,320 with a 42.1% increase those sold to 885.

Commercial sales produced a more mixed but still mainly positive picture.

Lots offered rose 21.9% to 362 with lots sold also up 18.2% to 234. However, the percentage sold dipped 3.1% and receipts fell 2.7% to just under £33.1m.

Merseyside has one of the strongest property auction markets in the UK with the three biggest players being Sutton Kersh, Venmore and Smith and Sons.

EIG managing director David Sandeman said: “The overall signs are positive, as has been the case throughout the first half of 2011, with the majority of metrics seeing percentage increases when compared with preceding periods.

“The big gains came in the residential sector, with increases visible in every single metric, and these are certainly encouraging and promising signs to enter the summer break with.

“For one of the busiest months in the auction calendar it is pleasing to see a strong set of results.”