According to CoreLogic preliminary auction results, the week ending 29th of June saw just 15 commercial properties go up for auction across Australia, following a trend of declining auction volumes over the last 6 months. Last week was an exception, where 40 commercial auction results were captured
The preliminary figures suggest a clearance rate of 46.7%, with 7 properties sold prior to, or at, auction.
This is the second week in June that the auction clearance rate has dipped below 50%, taking the four-week average rolling clearance rate to 55.1% by the 29th of June.
The data collected so far by CoreLogic suggests that the cleared auctions were concentrated in NSW, with 6 of 7 properties sold.