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

When it’s okay to be wrong

When it’s okay to be wrong
October 9, 2017 Mark O
when-its-okay-to-be-wrong

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:

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.

 

VICSuburbSold Price vs List Price
Source: REALas.com September 2017
1Gladstone Park5.3%
2Glenroy5.4%
3Ivanhoe6.2%
4Altona Meadows7.3%
5Roxburgh Park7.5%
6Taylors Lakes7.8%
7South Yarra8.3%
8Rosanna8.4%
9Murrumbeena8.5%
10Sandringham8.6%
This survey is for Victorian auctions in September 2017. Only real estate agencies 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 agency quote.

 

NSWSuburbSold Price vs List Price
Source: REALas.com September 2017
1Surry Hills2.1%
2Paddington3.7%
3Kellyville3.7%
4Maroubra3.8%
5Mona Vale4.1%
6Cherrybrook4.1%
7Darlinghurst4.1%
8Lane Cove North4.4%
9Fairlight4.7%
10Pyrmont5.6%
This survey is for NSW auctions in September 2017. Only real estate agencies 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 agency quote.

 

  • 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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When it's okay to be wrong
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