The third week in May 2017 saw 41 records captured by CoreLogic, with a preliminary clearance rate across the country of 85.4%. The preliminary results show that sales were dominated by the industrial sector, with 42% of cleared auctions comprised of warehouses, and combined warehouse and office spaces. Of these, there were 9 sales in New South Wales, 4 sales in Victoria, 1 in Tasmania and 1 in Western Australia.
The next highest frequency of sale was in the retail space, which saw 11 retail shops sold, 1 restaurant and 1 supermarket. Retail sales were largely in New South Wales and Queensland.
Compared with the same week in 2016, the past week saw the same number of commercial properties sold, but from a much lower pool of stock. This means that the past week has a much higher clearance rate than the equivalent week in 2016, when the clearance rate was 53%.
The table below indicates National Auction Clearance Rate figures.
Commercial Research Analyst, CoreLogic