When it’s okay to be wrong (but also right)
In September we made a prediction on a property in Portland NSW which happened to be exactly that of the top bidder ($780,000), Great! So what went wrong? Well, it turns out that the owner chose an offer of $750,000, which was $30k below the original offer.
The vendor had a strong connection with the successful buyer’s family, which convinced her to accept the lower offer and leave the house in the hands of someone that will love it as much as she did.
Here at REALas, we are happy to be only 4% wrong on these predictions, as long as they come with a heart warming story behind it!
Check out the full story in the tweets below:
I guess not even your algorithm can predict the preferences of an 89yo vendor… #HowitSold https://t.co/dXKjHV8V8a
— Michael Bleby (@MichaelBleby) October 9, 2017
Love this story, our prediction was right for the higher (unsuccessful) bidder https://t.co/QuoHdKVQDM
— REALas (@getREALas) October 9, 2017
Most accurate suburbs in Victoria and NSW
Inaccurate listed prices can be frustrating for buyers attending auctions every weekend. To help you, we have compiled a report of the top 10 most accurately quoted suburbs in Victoria and New South Wales for the month of September.
If you can’t find a REALas price prediction on a property, or need some information on a particular suburb, swing by REALas.com and send us a message.
| VIC | Suburb | Sold Price vs List Price |
|---|---|---|
| Source: REALas.com September 2017 | ||
| 1 | Gladstone Park | 5.3% |
| 2 | Glenroy | 5.4% |
| 3 | Ivanhoe | 6.2% |
| 4 | Altona Meadows | 7.3% |
| 5 | Roxburgh Park | 7.5% |
| 6 | Taylors Lakes | 7.8% |
| 7 | South Yarra | 8.3% |
| 8 | Rosanna | 8.4% |
| 9 | Murrumbeena | 8.5% |
| 10 | Sandringham | 8.6% |
| NSW | Suburb | Sold Price vs List Price |
|---|---|---|
| Source: REALas.com September 2017 | ||
| 1 | Surry Hills | 2.1% |
| 2 | Paddington | 3.7% |
| 3 | Kellyville | 3.7% |
| 4 | Maroubra | 3.8% |
| 5 | Mona Vale | 4.1% |
| 6 | Cherrybrook | 4.1% |
| 7 | Darlinghurst | 4.1% |
| 8 | Lane Cove North | 4.4% |
| 9 | Fairlight | 4.7% |
| 10 | Pyrmont | 5.6% |
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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.
