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


Subscribe to the free Commercial Pulse eNewsletter
Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe

About Commercial Research

CoreLogic RP Data Commercial Cityscope is a web-based service. Access is sold by geographic regions (Cityscope areas). There are 25 geographic regions across Australia (three in New Zealand), clustered around the cities of Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra and Newcastle. Darwin and Hobart CBD centres aren’t covered. Cityscope Areas in NSW and QLD also include lease expiry data for the most complete commercial coverage available. For more information call 1300 734 318.

Connect with CoreLogic

Enter your email address to subscribe to our e-newsletter, and have new posts delivered via email. You can also connect with CoreLogic on social media.

Trackbacks/Pingbacks

  1. Commercial Auction Results – Week ending 17 March 2017 — Australian Real Estate Blog - March 24, 2017

    […] Link: Commercial Auction Results – Week ending 17 March 2017 […]

Leave a Reply

Notify me of followup comments via e-mail. You can also subscribe without commenting.