Auction sales have increased across Australia - particularly over the past year - with mostly higher priced homes being sold under the hammer according to Domain research.

Domain's latest In Focus: Auctions report revealed that Canberra is the most auction-centric city with the highest proportion of sales by auction - 27.6%.

Australia's capital has overtaken Melbourne where 25.8% of homes are sold by auction.

Overall, 13.3% of properties in Australia were sold by auction in 2021 - equating to a record-breaking 42,918 auctions.

This has been led by the capital cities with 17.6% of sales being by auction; only 5.1% of regional sales were by auction.

Domain's Chief of Research and Economics Dr Nicola Powell said we can expect to see a growing number of auctions in the years to come.

"This trend is not isolated to just one city, we're seeing it across Australia and spreading from the higher-priced suburbs into the middle and outer suburbs," Dr Powell said.

"Buyers and sellers are embracing the transparency and efficiency that auctions can often provide, and the fact that all cities have a higher median price at auction compared to private treaty."


Why the growing interest in auctions?

Every capital city has a higher median auction sale price compared to private treaty sales.

The biggest difference can be seen in Brisbane's house prices where the median auction price is $1.035 million compared to $622,000 for private treaty sales - a difference of 66%.

Coming in just after Brisbane is Sydney, where auction sales are 63% higher than private treaty sales. 

The trend is also clear with unit prices; Sydney has the biggest price difference of 41% ($1.07 million median auction price, $760,000 median private treaty price).

Domain's Chief Revenue Officer John Foong said the popularity of auctions is an opportunity for agents to get the strongest results possible.

"Australians love auctions thanks to the transparency and efficiency they can often offer - now with a virtual option," Mr Foong said.

"Greater peace of mind for sellers can be achieved by having a reserve price, providing the opportunity for an early sale, and the safety of post-auction negations if a property passes in."

See Also: Why buy a home at auction?


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Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

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