There were a total of 24 commercial properties taken to Auction over the week across Australia, with a preliminary clearance rate of 67%. This is down from a volume of 28 commercial auctions in the previous week and a clearance rate of 85.7%.
Of the 16 auctions that cleared in the past week, 9 were in the Sydney metropolitan, while one retail shop zoned for SP3 tourist also sold prior to auction for $630,000 in Dubbo. A further four commercial properties sold across Queensland and two sold in the Melbourne metropolitan. The most common type of sale at auction was retail (44%) followed by industrial (37.5%).
The total value of cleared commercial properties at auction was $22.8 million, and the average sale price was $1.4 million.
The table below indicates National Auction Clearance Rate figures.
Commercial Research Analyst, CoreLogic