CoreLogic collected just 14 auction results in the week ending the 10th of November, representing a significant decline in the 57 preliminary auction events collected in the previous week. Of the 14 auctions held, 8 sold at auction, suggesting a preliminary clearance rate of 57.1%.
The steepest decline in the number of commercial auction events was in Victoria. This week saw just 3 commercial auction events noted in Victoria, with 2 of these properties sold.
New South Wales had 5 auctions, with 3 commercial properties selling. Two were in the Sydney metropolitan, including the $3.4 million sale of a commercial building in Camperdown. The second highest sale was also in New South Wales, located in Beresfield, south of Newcastle. The sale was of an industrial warehouse and office, worth $2.2 million.
South Australia had two successful commercial auctions over the week, with an office purchased in North Adelaide, and a warehouse sold in Pennington. The most ubiquitous sales type over the week was office space, breaking a trend of industrial being the most popular commercial auction type.