According to CoreLogic preliminary auction results, the week ending 23rd of February saw 38 properties go up for Auction across Australia. The preliminary figures suggest a clearance rate of 58%, with 22 properties sold prior to, or at, auction.
The data collected so far by CoreLogic suggests that the cleared auctions were dominated by industrial real estate, at 45%.
This reflects broader commercial market trends; about 40% of the private treaty and auction transactions combined were industrial real estate over 2017.
Interestingly, most properties up for auction were a range of properties across Queensland. However, New South Wales retained the strongest preliminary clearance rate. While the New South Wales figures were too low to be indicative of market trends.