About
Auctions are, in part, a by product of restrictive under supplied systems, ie where you can generate two buyers for every house being bid on.
The continued failure of auctions to generate any real meaningful sales % and prices, hints that supply/demand is starting to swing the otherway.
This does not mean that the supply is now equalling demand, because restrictive systems inevitably lead to busts, which while it is the counter correction of the restrictive boom, is not a cure in itself.
If policies can stabilize the bust at the bottom, then we will have a more stable affordable housing market going forward, and less need of auctions, other than their original use for truly unique properties, and mortgagee sales.