Preliminary auction tracking by CoreLogic reported 23 commercial properties being taken to market over the week ending September 7, with 17 sales, providing a preliminary auction clearance rate of 74%.
Industrial properties continued to comprise the large majority of auction sales, followed by office and retail properties.
Victorian commercial property continues to dominate preliminary market results. Of the 13 properties taken to auction, just 1 property was passed in.
Victoria also had the standout sale for the fortnight ending 7th Sept 2018 with a well known Melbourne CBD landmark and heritage listed property in King St sold at auction for $5.9million.