Preliminary results for the week ending the 18th of August saw 44 commercial auctions take place across Australia. Of these, 27 were recorded as selling at auction, indicating a preliminary clearance rate of 61.4%. The previous week also saw 27 auction sales, but out of a higher base of 48 auctions.
Unlike the previous week, Victoria saw the highest level of auctions (19), led by 5 industrial sales, 8 retail sales and 4 office space sales cleared at auction. However, New South Wales had the highest clearance rate, with 8 of 9 properties selling.
The preliminary results indicate that industrial sales were the most common kind of commercial sale across the country, making up 12 of the 27 sales. Most of these were warehouse properties with an office, and the average sale price was just under $1 million.
The table below indicates National Auction Clearance Rate figures.
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