Case analysis of auction market in Brisbane housing system
Only recently, the average Australian residential property market was experiencing negative growth caused by the decrease of average housing prices in the major capital cities, in particular, Sydney and Melbourne. However, other cities were registering positive growth. In a decade, the average house price in Brisbane has increased by more than 150 per cent. In 1994, the highest average house price in Brisbane was around $310,000 but in 2004 it reached $780,000. The high appreciation expectation has also influenced the choice of housing transaction method. In a boom market, auction in Sydney and Melbourne contribute a certain level of residential property market share. In Sydney, there was 50 per cent of all real estate sold by auction marketing. During the same boom period, the Brisbane auction market only had 20 to 30 per cent market share. This initial study aims to explore Brisbane housing auction market and the risk/benefit analysis to stakeholders in the auction mechanism. This study analyses the results from in-depth interview of representative of stakeholders and recent sales data (mid August to early October 2005). It was also found that vendors gain more benefits than buyers in the auction market. However, the strict terms of conditions that apply in auction transactions relative to the private treaty sales have discouraged buyers from utilising the auction process.
Impact and interest:
Citation counts are sourced monthly from and citation databases.
These databases contain citations from different subsets of available publications and different time periods and thus the citation count from each is usually different. Some works are not in either database and no count is displayed. Scopus includes citations from articles published in 1996 onwards, and Web of Science® generally from 1980 onwards.
Citations counts from theindexing service can be viewed at the linked Google Scholar™ search.
Full-text downloads displays the total number of times this work’s files (e.g., a PDF) have been downloaded from QUT ePrints as well as the number of downloads in the previous 365 days. The count includes downloads for all files if a work has more than one.
|Item Type:||Conference Paper|
|Additional Information:||For more information, please refer to the conference’s website (see hypertext link) or contact the author. Author contact details: email@example.com|
|Keywords:||Auction Residential House, Auction Mechanism, Housing System, Brisbane|
|Subjects:||Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > COMMERCIAL SERVICES (150400) > Real Estate and Valuation Services (150403)|
|Divisions:||Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering|
|Copyright Owner:||Copyright 2006 The Authors|
|Deposited On:||11 Jul 2007|
|Last Modified:||29 Feb 2012 13:20|
Repository Staff Only: item control page