More properties up for auction but few sold

THE number of properties put up for sale via auction is increasing as more sellers are turning to the auction market when they find it hard to move sales in the secondary market.

But selling units in the auction market isn't always quicker as there are cautious buyers staying on the sidelines.

Data from Colliers International showed that a total of 132 properties were put up for sale via auction in the first three months of this year, up from 120 properties in Q4.