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20 Worst Misquoted Suburbs

20 worst misquoted suburbs

20 Worst Misquoted Suburbs

Both New South Wales and Victoria have underquoting legislation in place. These real estate laws are meant to stop the misquoting of property prices at auctions. However, the problem still exists. Home buyers are frustrated by misquoting because it wastes their time, money and causes heartache. Here are the worst 20 misquoted suburbs in Melbourne and Sydney:

VIC Suburb Sold Price vs List Price
1 Forest Hill 19.9%
2 Ormond 19.5%
3 Avondale Heights 17.8%
4 Caulfield South 17.5%
5 Oak Park 17.0%
6 Flemington 17.0%
7 Sunbury 16.9%
8 Keilor Park 16.6%
9 Gladstone Park 16.6%
10 Box Hill North 16.6%
Source: REALas.com July 2017

 

NSW Suburb Sold Price vs List Price
1 Marsfield 20.2%
2 Epping 13.9%
3 Brighton-Le-Sands 13.3%
4 Lugarno 12.8%
5 Eastwood 12.6%
6 Glebe 12.1%
7 Condell Park 11.9%
8 Cronulla 11.5%
9 Ryde 11.0%
10 Lane Cove 10.6%
Source: REALas.com July 2017

 

With respect to the survey:

  • it is for auctions in July 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

 

REALas predicts property prices

REALas predicts property prices – Australia wide including auctions and private sales.

Between April 2016 and May 2017, the median accuracy of REALas predictions was within 5% of the final sale price. REALas predicts potential final sale prices for properties currently advertised for sale.

Search REALas property price predictions.

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