{"id":28305,"date":"2020-10-14T10:56:12","date_gmt":"2020-10-13T21:56:12","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=28305"},"modified":"2020-10-14T10:56:12","modified_gmt":"2020-10-13T21:56:12","slug":"believe-it-or-not-property-prices-are-set-to-rise","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/believe-it-or-not-property-prices-are-set-to-rise\/","title":{"rendered":"Believe it or not, property prices are set to rise!"},"content":{"rendered":"<p><strong>PHOTO: Australian property market. AAP Image\/Lukas Coch<\/strong><\/p>\n<p>An expert on property and financial markets warns real estate Nervous Nellies that house prices are on the way up, not down! And how would you like to be an expert on auctions, so if you\u2019re a seller, you pocket the best sum possible but if you\u2019re a buyer, you pay the least possible?<\/p>\n<p>Yep, that sounds good!<\/p>\n<p>Real estate agents better beware, as two US economists are going to help us avoid the winner\u2019s curse. This is when you win the auction and then the elation of the victory is replaced with the numbing question: \u201cDid I pay too much?\u201d<\/p>\n<p>Over-payers are good for sellers and the agent\u2019s commission. Expert under-payers are threats to sellers and agents.<\/p>\n<p>Australians have a passion for property and I\u2019m told we\u2019re the only country in the world where million-dollar assets are bought and sold on the front lawns of suburban homes. Who hasn\u2019t turned up to an auction for just a sticky beak or because you had nothing to do?<\/p>\n<p>Well, auction-loving Aussies will be interested to know that this year\u2019s Nobel Prize for Economics went to two US economists from Stanford Uni, Paul Milgrom and Robert Wilson, who\u2019ve worked out how bidders can avoid the so-called \u201cwinner&#8217;s curse\u201d of over-paying. Better still, they\u2019ve determined how you can be an under-payer at an auction. It gets down to doing your research, including what your rival bidders think represents value.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/switzer.com.au\/the-experts\/peter-switzer\/believe-it-or-not-property-prices-are-set-to-rise\/\">SWITZER<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Australian property market. AAP Image\/Lukas Coch An expert on<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/believe-it-or-not-property-prices-are-set-to-rise\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":28306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478098892,478108952,478098566,478098519,478098543,478098513,478101743,478098873,478098579,478098510,478098616,478098514,478098509],"class_list":["entry","author-data123nz","post-28305","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-corelogic","tag-covid-19","tag-first-home-buyers","tag-home-ownership","tag-mortgages","tag-property","tag-property-correction","tag-property-investment","tag-property-market","tag-property-news","tag-property-prices","tag-propertynoise","tag-real-estate-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Believe it or not, property prices are set to rise! - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/believe-it-or-not-property-prices-are-set-to-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Believe it or not, property prices are set to rise! - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Australian property market. 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