REALas Australia’s most accurate property price predictions
REALas Australia’s most accurate property price predictions

10 Most Frustrating Suburbs in Real Estate

10 Most Frustrating Suburbs in Real Estate
January 16, 2017 Josh Rowe
frustrating suburbs real estate

10 Most Frustrating Suburbs in Real Estate

In 7 out of every 10 auctions in Melbourne the final selling price was more than 10% over the agent quoted price (December 2016).  Inaccurate price quoting is frustrating for home buyers. Every house a home buyer misses out on wastes time, money and causes heartache.

The suburbs which were most frustrating for home buyers were:

VIC Inaccurate real estate agents Sold Price vs Agent Quote Sold Price vs REALas.com
1 Malvern East 23.3% 11.7%
2 Brighton East 21.5% 10.8%
3 Doncaster 21.3% 5.4%
4 Keysborough 21.2% 6.6%
5 Cheltenham 19.3% 6.8%
6 Black Rock 19.2% 7.1%
7 Strathmore 19.0% 5.3%
8 Keilor Downs 19.0% 7.7%
9 Bulleen 18.9% 4.5%
10 Eaglemont 18.9% 5.8%
Source: REALas.com December 2016

 

NSW Inaccurate real estate agents Sold Price vs Agent Quote Sold Price vs REALas.com
1 Kirribilli 18.4% 9.6%
2 Tempe 16.3% 4.8%
3 Forest Lodge 15.8% 5.8%
4 Picnic Point 15.8% 10.2%
5 North Ryde 15.7% 5.9%
6 Waverton 15.6% 7.9%
7 Tennyson Point 15.6% 9.2%
8 Millers Point 15.5% 3.5%
9 Lewisham 15.3% 6.1%
10 Goulburn 15.0% 13.0%
Source: REALas.com December 2016

 

With respect to the survey:

  • it is for auctions in December 2016
  • from Victoria and New South Wales
  • only suburbs with 4 or more publicly available quotes and auction results were included
  • the “Sold Price vs Agent Quote” is the average percentage difference between the sold price and the public agency quote
  • the “Sold Price vs realAs.com” is the average percentage difference between the sold price and the realAs.com prediction

 

 

  • property values

    The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of REALas.


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10 Most Frustrating Suburbs in Real Estate
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