CoreLogic captured 12 commercial auction results across Australia between the 6th and the 12th of May. These preliminary results had a clearance rate of 92%, with just one auction passing in at Arrawarra, on the north-coast of New South Wales. The passed in property was a hotel/leisure spot. Some such properties may be impacted by seasonality. Compared with the same week in 2016, the preliminary auction results show far less auctions, signifying lower stock availability.
Commercial Research Analyst, CoreLogic