Brighter Selling

#20 Suburbs where sellers are dropping prices

by Kate Watt, Marketing Manager 30 May 2019

Sellers eager to offload properties are discounting at rates of over 8 per cent in some popular Brisbane markets, according to new data.

Vendor discounting is typically reported as the percentage below the asking price at which a property actually sells.

It can be an indicator of whether it’s a seller’s market or a buyer’s market.

The latest data from Domain shows Carindale house owners are, on average, shaving a hefty 8.5 per cent off the asking price. While Chermside unit owners are discounting by 8.9 per cent.

However, broad brush averages can be deceiving.

“…it is only an average figure and, while the average or median is the simplest way to look at a suburb, it doesn’t tell the full story,” said Domain economist Trent Wiltshire.

The Domain stats did not include properties that sold via auction or without a listed price.

In suburbs where there is a broad range of property types the average discount can be misleading. Higher end properties, for example, may be dropping further to meet the market than mid-range properties.

In other words, these figures are interesting but talk to a local agent to find out what might be going on beneath the data.

Check out the suburbs with the highest average percentage discounts across Brisbane.

Average percentage discount for Brisbane houses

  1. Carindale, 8.50%
  2. Clontarf, 7.70%
  3. Redcliffe, 7.60%
  4. Rochedale South, 7.40%
  5. Cleveland, 7.30%
  6. Kippa-Ring, 7.20%
  7. Banksia Beach, 7.10%
  8. Margate, 7.00%
  9. Redbank Plains, 7.00%
  10. Scarborough, 6.90%

Average percentage discount for Brisbane units

  1. Chermside, 8.90%
  2. Redcliffe, 8.60%
  3. New Farm, 8.10%
  4. South Brisbane, 8.00%
  5. Coorparoo, 8.00%
  6. Annerley, 7.70%
  7. Fortitude Valley, 7.50%
  8. Kangaroo Point, 7.20%
  9. St Lucia, 7.20%
  10. Brisbane City, 7.20%

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