According to CoreLogic preliminary auction results, the week ending 3rd of August saw 46 commercial properties go up for auction across Australia.
The preliminary figures suggest a clearance rate of 58.7%, with 27 commercial properties sold prior to, or at, auction. The preliminary clearance rate was slightly lower than the previous two weeks, where the clearance rate held in the low 60% range.
The 4 week average clearance rate is now 56.2%, up from 54.1% in the previous week. The highest volume of sales was in New South Wales, where 11 of 13 properties sold.
The most common type of property sold over the week were industrial properties, comprising 33% of the results, followed by retail (26%) and office buildings (22%).