According to CoreLogic preliminary auction results, the week ending 11th of May saw 68 properties go up for auction across Australia. The preliminary figures suggest a clearance rate of 61.8%, with 42 properties sold prior to, or at, auction.
The data collected so far by CoreLogic suggests that the cleared auctions were dominated by medical and miscellaneous property types, at 28%.
This is a diversion from broader commercial market trends; approximately 40% of the private treaty and auction transactions over a 12 month period are industrial, according to CoreLogic’s Property Information Monitor.
Interestingly, most properties up for auction were a range of properties across New South Wales. New South Wales also had the strongest preliminary clearance rate (69%).