Working paper

A comparison of house prices brought by English auctions and private negotiations in Melbourne

URP Working Paper No. 37
Publisher
Housing prices Real estate Melbourne
Description

A comparison of house prices brought by English auctions and private negotiations produced evidence that the pricing mechanism matters, with the price maximizing choice a function of the level of market interest. In an active market for middle- to high-priced houses, auctions extracted higher prices than private negotiations. However, this result did not hold for houses expected to attract relatively low levels of interest.

Publication Details
Volume:
37
Publication place:
Canberra