The number of commercial auctions held in the week ending the 8th of September climbed to 38, up from 28 in the previous week, according to preliminary results from CoreLogic. Across Australia, 25 properties were recorded as sold, resulting in a preliminary clearance rate of 64.1%. This was higher than the 51% preliminary clearance rate in the equivalent week in 2016.
New South Wales saw the highest number of commercial auctions held, with 19 events recorded by CoreLogic. Victoria has fewer auctions at 13, but had a higher preliminary clearance rate of 77%, compared with 56% in New South Wales. Queensland saw 7 commercial auctions recorded, with 5 noted as selling at auction.
Once again, industrial real estate proved to be the most ubiquitous sale type, with 14 industrial properties recorded as sold across Australia, followed by 6 office spaces, 2 retail spaces and 3 miscellaneous sites.
The table below indicates National Auction Clearance Rate figures.
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