Commercial Auction Results – Week ending 17 March 2017
CoreLogic collected five results for the week ending the 17th of March, with all properties selling at auction. All results collected were in NSW, and had a combined sales value of $29.7 million. All but one of the sales was in retail. All but one of the sales was located in the Sydney metropolitan area, with the sales of a retail shop in Wollongong.
Looking back over the month of March thus far, CoreLogic has collected 42 auction results with a 100% clearance rate and a combined sales value of $104.8 million.
The highest frequency suburb for sales was Somerville in Victoria, where three retail shops sold over the month. In fact, despite the narrative of a decline in retail visitation due to online shopping, retail spaces have been the most frequently auctioned property type collected by CoreLogic since the start of 2017. This suggests that there is still appetite for retail spaces, particularly in metropolitan Melbourne and Sydney.
The table below indicates National Auction Clearance Rate figures.
Eliza Owen
Commercial Research Analyst, CoreLogic
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