The week ending 26th of May saw a preliminary clearance rate of 69.2%, down dramatically from the previous week of 86.5%. The stock for sale at auction was also significantly lower, at just 13 commercial properties going up for auction over the week. In the same week of last year, preliminary auction results saw 69 properties go to auction, with a clearance rate of 43.5%.
The total value of properties sold in the week ending 26th of May was $12.6 million. The highest value property sold was a child care centre in White Rock, Queensland, which sold for approximately $2.3 million prior to auction.
A number of leading commercial researchers cite childcare centres as a preferable commercial investment in Australia, with CoreLogic capturing 7 child care centres sold at auction in the month of May. The increased participation of both spouses in the workforce make child care centres a necessity, creating reliable tenancy for the investment.
The table below indicates National Auction Clearance Rate figures.
Commercial Research Analyst, CoreLogic