The volume of commercial auctions and clearance rate has continued to rise slowly after falling heavily at the end of April 2019.
According to the latest data collected for CoreLogic’s preliminary auctions results, the national auction clearance lifted over consecutive reporting periods to 60.9%.
New South Wales’s auction clearance rate came in highest at 72.7%, followed by Victoria and Queensland at 65.3% and 42.8% respectively.
Retail and industrial use property was the most prevalent types of property sold, followed by properties of broad use types office and medical.
The highest reported sale at auction for the fortnight was a freehold property located at 668-672 Old Princess Hwy, Sutherland in NSW.
The 4 level property built in 1989 was sold at a public auction held in Sydney on 14th May 2019.