Homes under the hammer – tv show

Hi.. I've been following this show on foxtel called 'homes under the hammer'. I've found it quite inspiring but was wondering whether that sort of thing is possible here. They all get their properties at auction, always in some big room, where there's lots of places being auctioned at once. Does it happen like that here..?(Oz) Does all the stuff they talk about ring true here? I've been musing with the idea of building a collection of properties and renting them out.