Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Commercial clearance rates sink in May

Staff Reporter 1 minute read

Commercial auction clearance rates fell to a record low 39 per cent in May, with only 83 of 213 properties selling nationally.

New South Wales recorded the weakest result of just 28 per cent while Victoria performed strongest over the month with a clearance rate of 60 per cent.

According to RP Data, this was the “saving grace” for the month.

“Despite pretty gloomy and disappointing results around the nation, Victoria is still holding strong, although only 43 properties were offered in May, which is about half of what was offered in March,” said Richard Crnek, general manager of RP Data Commercial.

“When compared to the rest of the country, however, the fact that Victoria’s clearance rate fell only three points from April is pretty outstanding,” he said.

Published: 13-06-08

 

Commercial clearance rates sink in May
default
TheAdviser logo
default

 

more from the adviser
ASIC TA ASIC to update ACL process following security breach

The financial services regulator is working on “alternative arr...

money au ta Lenders extend cashback offers

Several lenders and their subsidiaries have extended their cashba...

ren wong N1 pivots to become SME lender

Diversified broking and non-bank lending group N1 Holdings has an...

FROM THE WEB