The preliminary CoreLogic results suggest there were 37 auctions held in the week ending the 9th of June, with a clearance rate of 62.2%. This is a higher clearance rate than the previous week, however because the number of properties at auction were lower, it represents fewer sales and a lower combined value.
The preliminary results this week mirror the equivalent week of 2016, where 43 auctions obtained a clearance rate of 60.5%.
The combined value of reported commercial auctions over the week was $18.5 million, with an average sale price of $1.3 million. Approximately 30% of cleared auctions were in the retail space, 6 of which were in the Melbourne Metropolitan area.
The table below indicates National Auction Clearance Rate figures.
Commercial Research Analyst, CoreLogic