According to CoreLogic preliminary auction results, the week ending 27th of July saw 39 commercial properties go up for auction across Australia, compared with a preliminary result of 19 auction events last week.
The preliminary figures suggest a clearance rate of 59%, with 23 commercial properties sold prior to, or at, auction.
This is down slightly from the clearance rate last week, which was 63.2%, and is roughly on par with the clearance rate in the equivalent week of 2017.
Based on preliminary results, the 4 week clearance rate has edged slightly higher, to 53.9% from 52.7% last week. This may suggest the commercial market is starting to steady, following a dip in the clearance rate below 50% in June.