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10 Most Frustrating Suburbs in Real Estate

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

REALas accurately predicts property values

REALas property values are 5% off home sale prices on average – Australia wide including auctions and private sales.  Almost 9 out of 10 of REALas home price guides are just 10% off the final home selling price. Does your real estate agent, property valuer or real estate data provider get even close to that?

There are thousands of homes on REALas.com

We help home buyers research the right price to pay for a home.

realAs real estate property valuation home price guide report

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10 Most Frustrating Suburbs in Real Estate
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