In general, auctions tend to be more popular in urban areas of major metropolitan cities such as Melbourne or Sydney. This is because buyers are looking for properties that are:
- well situated;
- unique in some way such as architecturally popular;
- very popular locality; and
- have a high level of market activity, that is, properties that are in high demand
This guide examines the differences between auction and private treaty (for sale) and how you, as a buyer, can best work with the agent and the auctioneer.