CoreLogic’s preliminary auction results for the 2 week period ending 5th October 2018 show of the 49 properties taken to auction, 29 were sold indicating a clearance rate of 59.2%.
Whilst the clearance rate remains steady, the number of properties taken to auction has continued to drop since 14th September 2018.
Office buildings accounted for the majority of sales, comprising 42% of commercial sales over the fortnight.
NSW had the highest selling commercial property for the reporting period. Ideally located in Bankstown’s Asian shopping district. The two-level and dual street frontage property at 204 – 308 Chapel Rd, Bankstown, sold on 28th September 2018 for close to $9 million.