A study on the Impact of Macroeconomic Fluctuations and Auction Market Variables on Seoul City Auction Winning Bid Rates

The increase in consumer prices in the capital market has a positive effect on the economic sentiment index and the successful bid rate, but the effect is not significant. In addition, the fact that an increase in interest rates can cause an increase in the successful bid rate means that when many auction items are put on the market during the period of interest rate hikes, there may be a temporary increase in the number of people trying to purchase undervalued houses at a low cost, and the period of interest rate hikes can be perceived as a signal of recovery from economic recession, which can have a positive effect on the successful bid rate. However, analysis using the economic variables has the disadvantage of not reflecting the characteristics of the market that change in the short term because it deals with comprehensive concepts from a long-term perspective. To overcome this, it is necessary to derive comprehensive variables that affect the market and create derivative variables, and it is necessary to conduct in-depth analysis linked to real estate policy.