The latest data collected for CoreLogic’s preliminary auctions results indicate the clearance rate was higher this reporting period at 54.8%. However the result was achieved on low volume, with just 31 auctions recorded, the lowest recorded for the year to date.
Victoria’s auction clearance rate came in highest at 66.7%, followed by New South Wales and Queensland at 57.1% and 50% respectively.
Industrial use property continues to be the most prevalent type of property sold, followed by properties of broad use types retail and commercial.
The highest reported sale at auction for the fortnight was a freehold property located at 20-22 Box Rd, Caringbah in NSW.
The number of commercial properties taken to auction has been trending lower since 2015. When compared to results of the previous 4 years, the volume of auctions for 2019 is approximately 40% lower on a half yearly basis while the clearance rate is almost equal.