Preliminary results for the week ending 7th of July saw just 16 commercial auctions across Australia, with 9 properties sold. This means the commercial auction clearance rate was 56.25%, following a gradual decline in the clearance rate over the last three weeks. Sales volumes were dramatically lower than the preliminary records of the previous week, with 75% fewer properties up for auction in the week ending the 7th. The total disclosed value of sold properties was $9.47 million according to the preliminary collection, putting the average disclosed sale price at $1.35 million for the week.
The preliminary results in the first week of July in 2016 saw a similarly drastic decline in the number of commercial auctions held, with the total estimated number of properties up for auction declining 62% on the previous week in 2016.
Commercial Research Analyst, CoreLogic