The preliminary auction results for the week ending 22nd of September suggest there were 59 commercial auctions across Australia. This is higher than the 39 commercial auctions held in the previous week. The preliminary clearance rate was 69.5%, as 41 non-residential properties were recorded as cleared at auction. This was also a higher clearance rate than the previous week, which was just 48.7%.
Of the 59 auction events captured by CoreLogic, 27 were held in New South Wales, and 23 were held in Victoria. Victoria saw a higher preliminary clearance rate of 73.9%, where New South Wales saw a slightly lower clearance rate of 66.6%.
For the third week in a row, industrial real estate represented the most ubiquitous sale type. There were 14 industrial properties sold, 11 commercial spaces and 10 retail spaces. This week’s preliminary results reflect continued strength in the commercial real estate market, particularly in the industrial space.
The table below indicates National Auction Clearance Rate figures.