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Underquoting Smashed in Melbourne & Sydney

underquoting smashed melbourne sydney

Underquoting Smashed in Melbourne & Sydney

Every home buyer hates it. The property advertised for one price, which then sells for way over their actual budget. Underquoting sucks. However, it’s not all bad. Underquoting is being smashed in the hot property markets of Melbourne and Sydney.

Here are the top 10 suburbs for accurate property price quoting in Melbourne and Sydney:

VIC Suburb Sold Price vs Agent Quote
1 Balwyn North 6.0%
2 Strathmore 7.0%
3 Kingsville 7.1%
4 Port Melbourne 7.4%
5 Elwood 7.7%
6 Seddon 8.0%
7 Dromana 8.3%
8 South Yarra 8.3%
9 Yallambie 8.4%
10 Richmond 8.7%
Source: REALas.com May 2017

 

NSW Suburb Sold Price vs Agent Quote
1 Blacktown 3.3%
2 East Ballina 3.7%
3 Darlinghurst 5.7%
4 Wahroonga 6.6%
5 Cherrybrook 7.1%
6 Leichhardt 7.1%
7 Concord 7.4%
8 Potts Point 7.7%
9 Marrickville 7.8%
10 Alexandria 7.8%
Source: REALas.com May 2017

 

With respect to the survey:

  • it is for auctions in May 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 for REALas property price predictions by address or suburb using the search box above. Happy home hunting!

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