This edition of Ray White Commercial Auction Insights showcases the second half of 2015 (2H 2015), and our full 2015 calendar year results.
During 2015 over approximately $240million worth of property was sold across the Ray White Commercial network via the Auction process. Over 82% of these transactions were sold either at auction, prior to or shortly thereafter.
Most encouragingly, the year finished very strongly with the second half of 2015 showing a clearance rate of 95.89%. Many assets were snapped up prior to
auction or sold under the hammer highlighting the strong demand for property. The high number of registered bidders during the 2H 2015 (average 6.36 bidders) further emphasises the strong demand for investment quality stock. Activity during this period was well spread across Queensland, New South Wales and Victoria with demand strongest for tenanted small retail and industrial holdings with an average sale price of $1.1million and $527,000 respectively across the country.