A property market commentator and investor is advising homeowners to avoid taking their houses to auction in a cooling property market.
David Whitburn told Larry Williams on Newstalk ZB's Larry Williams Drive he believes sellers shouldn't be going to auction at the moment.
"I don't think it's the best form of sell in the current market, the reason is there's not the same level of demand out there so you're not getting as many purchasers if you're selling your property as you would have in the months and certainly the years gone by," he said.
Whitburn said the auction clearance rates were sitting at around 40 to 50 per cent, which was "well down" from 2015/2016.
He said auctions were a good way to sell property in a buoyant market when people had a "fear of missing out".