Commercial Auction Results – Week ending 24th February 2017
The preliminary auction results for the 18th-24th of February saw 12 commercial properties go up for auction. Of the 12 properties, 9 sold at auction, 2 sold prior to auction and 1 property passed in. This represents a preliminary clearance rate of over 91%.
Of the sold auctions last week, 6 were in Victoria, 4 were in Queensland and 1 was in Tasmania. The combined worth of these cleared auctions was $22,137,000. This is a 3% increase on the value of the previous week’s auctions.
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The auction activity across Australia is starting to ramp up as we reach the beginning of March. CoreLogic collected 47 auction listings with a clearance rate of 61.7% in February, as opposed to just 12 listings with a 41.2% clearance rate over January.
The table below indicates National Auction Clearance Rate figures.
Eliza Owen
Commercial Research Analyst, CoreLogic
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