The latest data collected for CoreLogic’s preliminary auctions results indicate the clearance rate slipped to 49.1% this reporting period.

Commercial Auction Clearance Rate 20190607.PNG

While the volume of commercial auctions remains subdued, the current long term clearance rate of 54.7% is only marginally below the 12 month median of 56.4%.

Commercial Auction Count Summary 20190607.PNG

Victoria’s auction clearance rate came in highest at 53.8%, followed by New South Wales and Queensland at 45.4% and 33.3% respectively.

Industrial use property was the most prevalent type of property sold, followed by properties of broad use types retail and commercial.

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The highest reported sale at auction for the fortnight was a freehold property located at 137 Rowe St Eastwood in NSW.

Hightest Reported Sale 20190607.PNG

The fully leased property has a reported net income of over $240k and sold at a public auction held in CBRE’s Western Sydney Office on 5th June 2019.