According to CoreLogic preliminary auction results, the week ending 25th of May saw 22 properties go up for auction across Australia. The preliminary figures suggest a clearance rate of 59.1%, with 13 properties sold prior to, or at, auction.
The data collected so far by CoreLogic suggests that the cleared auctions were dominated by industrial property types, at 61%.
This is a diversion from broader commercial market trends; approximately 40% of the private treaty and auction transactions over a 12 month period are industrial, according to CoreLogic’s Property Information Monitor.
The strong industrial presence in the results was driven by Victoria, where 4 industrial properties sold at auction across the Melbourne metropolitan.