Are you living on happy street? A national survey of seller satisfaction has found that our happiest property owners live in suburbs where a third of them regularly got more than they asked for off their homes sales.
The Scenic Rim and Moreton Bay were the happiest places in Queensland to sell a house, according to the national survey of sellers’ expectations by real estate agent rating agency, ratemyagent.com.au – with almost a third of sellers receiving more than they were expecting for their homes.
The Price Expectation Report’s net results are taken from a survey of over 36,000 house sellers who logged in to the website over the past eight months, asking if their house sale was above, in-line, or below expectation.
It also found one in four Sunshine Coast sellers received above what they were expecting for their properties.
“People are looking for affordability and looking for a tree change or a sea change, as prices become less affordable, people move away from metropolitan areas,” RateMyAgency founder Mark Armstrong said.
In Brisbane, 10 per cent of property prices fell below expectations.
The net results showed a steady decline in sales satisfaction over 2018, from a national average of 42 per cent in April, to 29 per cent in December.
The lowest net satisfaction in Queensland was reported in Gladstone (3 per cent), followed by Cairns (4 per cent).
The survey found regional sellers were the best at pitching their prices to the market and homeowners with properties over $1.5 million were the most likely to be unhappy with their sales results.
Mr Armstrong said looking at the market from a consumer angle rather than the movement of median property prices was the best way to gauge what consumers were thinking about the current property market.
Nationally, Tasmania was the happiest state overall, with 44 per cent of sellers reporting above expectation property prices.
Mr Armstrong said the message to homeowners thinking of selling their homes this year was to be more realistic about their property prices.
“In Queensland it appears there’s a greater alignment of expectation to sale price than other states,” he said.
“It does take a little while to adjust to the new reality; lending practices have been really tightened.”
THE TOP SPOTS WHERE SELLERS GET MORE FOR THEIR PROPERTY
(percentages are the net above price expectation results based on a survey of 36,128 sellers)
1: Scenic Rim (32 per cent)
2: Moreton Bay (31 per cent)
3: Sunshine Coast (25 per cent)
4: Somerset (20 per cent)
5: Gold Coast (19 per cent)
6: Ipswich (19 per cent)
7: Brisbane (19 per cent)
8: Logan (17 per cent)
9: Mackay (15 per cent)
10: Rockhampton (13 per cent)
Source: Price Expectation Report, Feb. 2019. Prepared by ratemyagent.com.au