According to CoreLogic preliminary auction results, the week ending 2nd of March saw 40 properties go up for Auction across Australia.
The preliminary figures suggest a clearance rate of 80%, with 32 properties sold prior to, or at, auction. This is far higher than the preliminary rate of 58% in the previous week, however the small sample size should be treated with caution.
The 4 week average clearance rose to 60%, indicating demand in commercial is starting to rebound following a soft start to the year.
Victoria saw the most properties taken to auction over the week, with 18 properties sold. Of the sales in Victoria, 10 were retail premises, and interestingly, 11 of the 18 properties were sold in regional parts of Victoria.