The week ending 16th of June saw the lowest number of preliminary auctions for the month, at just 30 held across the country. Of the 30 auctions held, 17 were sold, with a clearance rate of 56.7%. This was lower than the preliminary results of the previous week, which saw 32 sold commercial properties at a clearance rate of 60.4%.
However, the total sales value of the cleared auctions was higher than the previous week, at $33.7 million.
In the same week of 2016, preliminary auction results showed a clearance rate of 46.3%, suggesting lower levels of demand for commercial property. However, more stock was available in this week, with 54 properties going to auction.
The table below indicates National Auction Clearance Rate figures.
Commercial Research Analyst, CoreLogic