According to the latest data collected for CoreLogic’s preliminary auctions results, at a national level, the auction clearance for this reporting period is 55,1% with 43 of the 79 properties taken to auction sold under the hammer.
Once again retail properties recorded the highest number of sales by type, reported at 42% followed by commercial office spaces at 32% of the total properties sold.
Victoria has been top of the leaderboard for most of the year in terms of both the number of auctions and clearance rates. Closing out the year with a wet sail, Victoria led the way with a clearance rate of over 60% and accounted for over half the total commercial property auctions across Australia this fortnight.
The highest reported sale at auction for the fortnight was a supermarket located at 104 Lonsdale Street, Hamilton in Victoria. Leased to iconic retailer Coles until 2035, this 11,584 sqm land holding and 3,870 sqm building has a projected net rent in 2019 of $1,237,855 pa.