With the Spring selling season upon us, a new Aussie/RP Data Property Discounting Report shows where buyers can expect to pay more or less than the advertised price for their next property.
If, like me, you’re hoping to buy this Spring, you’re probably also madly researching and hoping that prices will come down. Conveniently for us, Aussie and RP Data have just released a new report that looks at where homes are selling for more or less than the advertised prices.
Surprisingly, the report shows just 3.8% of houses and 4.7% of units last financial year sold at the advertised price by private treaty. So how are we meant to know what we realistically can or can’t afford when so few sell for what’s advertised? On the bright side, nationally the majority of houses (63.4%) and units (58.1%) are selling for less than the advertised price which is good news for buyers.
As expected though, our capital cities are more likely to sell at a premium, with 43.6% of houses and 46% of units selling above their list price compared to the national average of 32.8% and 37.2% for houses and units respectively.
Homes sold at, above and below advertised prices over the 12 months to June 2014
Top Ten Suburbs selling above list price in Australia
Top Ten Suburbs selling below list price in Australia
Make sure you check back to the blog over the next couple of weeks to find out what the top suburbs are in your capital city.
Want more information? Download the full Property Discounting Report for free.
Are you planning to buy this Spring? Where are you looking and were you surprised by these results?
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