According to CoreLogic preliminary auction results, the week ending 17th of August saw 12 commercial properties go up for auction across Australia, with ten of these properties selling at auction, resulting in a preliminary clearance rate of 83%.

industrial

30%

retail

50% 

hotelandleisure

0%

office

10%

medicalandmisc

10%

While the preliminary clearance rate is the highest in more than a year, with only 12 results reported over the week, there is a high likelihood the clearance rate will revise lower as more data is collected.  Despite the weekly jump in clearance rate, the trend has been strengthening since mid-June earlier this year. 

Eleven of the twelve commercial auctions were held in Victoria, including the highest price achieved, which was for a retail outlet on Malvern Road, Toorak, which sold for $9.628 million.