This edition of Auction Insights looks at the transactions which have occurred during the third quarter of 2016, July to September.
This period saw 41 commercial listings with Auction campaigns brought to market across the Ray White Commercial network with a strong overall 85.37% success rate. The total volume of sales was recorded $71.262 million bringing the 2016 total (3 quarters of 2016) to $132.693 million and a slightly higher clearance rate of 88.35%.
Given elevated demand for some asset classes, more than a quarter of all sales during this third quarter period where concluded Prior to auction and a further 62.86% of all sales completed under the hammer representing 31 of the 35 sold auctions. Shortly after the campaigns were finalised the Ray White Commercial group were successful in obtaining an additional 4 sales (Post auction) resulting in this strong clearance rate.