CoreLogic collected 100 auction results in the week ending the 8th of December, representing a strong uplift in commercial auctions from the preliminary auction events collected in the previous week. Of the 100 auctions held, 58 sold at auction, suggesting a preliminary clearance rate of 58%, down slightly from 58.7% in the previous week.
Share of Commercial Property Sale by Type, Australia Wide – Week ending 8th December
As has been a common trend over 2017, the most ubiquitous commercial property type were industrial spaces. These were largely warehouse spaces with office units, and there was one service station. The typical auction sale price collected in the preliminary results for the warehouse and office space was $1.87 million.
Of the 58 properties sold at auction over the week ending the 8th, 42 had a disclosed sale price. The average sale price was $2.1 million.
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