Top 10 Misquoted Suburbs in Real Estate
Real estate prices are sometimes misquoted. Misquoting is when the selling price for a home is significantly different to the list price. Misquoting can mean home buyers waste their time, money and have their hearts broken on homes they cannot afford.
The challenge for home buyers is that there is no set percentage which homes are misquoted by. The old adage to “just add 10%” to the list price simply doesn’t work. Our data proves it.
In contrast, REALas predictions are 5% from sale prices on average.
Here are the Top 10 suburbs for misquoted real estate prices:
| VIC | Top 10 misquoted suburbs | Sold Price vs List Price |
| 1 | Glen Huntly | 22.5% |
| 2 | Bulleen | 21.5% |
| 3 | Carlton North | 21.4% |
| 4 | Doncaster East | 18.8% |
| 5 | Greenvale | 18.7% |
| 6 | Keilor East | 18.2% |
| 7 | Moonee Ponds | 18.0% |
| 8 | Croydon | 17.8% |
| 9 | Werribee | 17.6% |
| 10 | Heidelberg Heights | 17.6% |
| Source: REALas.com February 2017 |
| NSW | Top 10 misquoted suburbs | Sold Price vs List Price |
| 1 | Carlingford | 17.7% |
| 2 | Waverton | 17.2% |
| 3 | North Ryde | 16.5% |
| 4 | Epping | 15.6% |
| 5 | Bexley | 15.5% |
| 6 | Naremburn | 14.6% |
| 7 | Rockdale | 14.3% |
| 8 | Turramurra | 14.2% |
| 9 | Marrickville | 14.0% |
| 10 | Randwick | 13.5% |
| Source: REALas.com February 2017 |
With respect to the survey:
- it is for auctions in February 2017
- from Victoria and New South Wales
- only suburbs with 4 or more publicly available quotes and auction results were included
- the “Sold Price vs List Price” is the average percentage difference between the sold price and the public list price
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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
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Top 10 Misquoted Suburbs in Real Estate
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