The preliminary commercial auction results for the week ending 15th of September saw 39 properties up for auction – the same number of records recorded as up for auction in the previous week. However, unlike last week, the preliminary clearance rate dropped to just 48.7%, or 19 sales, down from 64% in the previous week.
The change in appetite for commercial real estate over the last week may be due to slightly different geographic distribution: in the week ending the 9th of September, 48% of collected auctions were held in New South Wales, and 33% were in Victoria, which has recently shown a consistently high clearance rate. In the week ending the 15th of September, just 20% of the auctions recorded were in Victoria, and 70% were in New South Wales.
Once again, the preliminary results show Industrial real estate was the dominant sale type, with 9 industrial properties selling at auction. There were 6 office spaces sold, and 3 retail spaces.
The table below indicates National Auction Clearance Rate figures.
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