Chart of the Day: Auction listings jumped 47.6% to 400 in Q2

Despite higher listing numbers, the success rate continues to go down.

This chart from Knight Franks shows that the number of auction listings maintained its positive momentum, up 47.6% YoY to 400. On a quarterly basis, it rose 10.5% QoQ from 362 listings in the previous quarter. 

However, despite the increasing number of transactions, its success rate continues to decline to 0.8% in the same period. It has been falling since 2018 from 6.4% in Q1 2018 to 1.4% in Q1.

Also read: Why auction listings are failing to take off even as listings rise

Only three properties were successfully sold through auctions during Q2, amounting to a total sales value of $3.9m. These properties are an apartment in Skysuites @ Anson, an apartment in Cote D’zur, and a HDB shop at Boon Lay Shopping Centre.

Furthermore, residential listings continue to account for most of the overall number of listings. The sector had 91 listings whilst the industrial and retail property segments had 31 and 21 listings, respectively.