The preliminary auction results for the week ending the 3rd of March saw 8 properties for auction across Australia. The combined clearance rate was 100%. All but one of the auctions was in the Melbourne CBD. The highest collected sale was a shop in Clifton Hill, Victoria, which sold at Auction for $2,150,000. The combined worth of the sales was $9.8 million.
As CoreLogic gathers more commercial data over the year, the February results are indicating a clearance rate of 78% for the month. Cleared auctions had a combined recorded value of $102.98 million, which is approximately 10% lower than the combined sales value of auctions in February 2016.
Commercial Research Analyst, CoreLogic