According to the latest data collected for CoreLogic’s preliminary commercial real estate auctions results, the national auction clearance lifted to 57.8% this reporting period having tracked below 50% for most of April. There were 51 auctions reported as being held which was less than half the usual level of activity.

Commercial Auction Count Summary.PNG

New South Wales’s auction clearance rate came in highest at 68.7%, followed by Victoria and Queensland at 61% and 41.6% respectively.

Commercial Auction Clearance Rate May 10.PNG

Retail use property was the most prevalent type sold, followed by properties of broad use types industrial and office.

Share of Commercial Property Sales by Type- May10.PNG

The highest reported sale at auction for the fortnight was a freehold property located at 146/148 Parramatta Road, Camperdown in NSW.

Highest REported Sale May 10.PNG

Comprised of two shops and two residences, the property was reported as sold at auction on 2nd May 2019.