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
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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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REALas.com
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10 Most Frustrating Suburbs in Real Estate
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