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Want a discount on a home? These are the Brisbane suburbs with the most bargaining power

first_imgYou’ve got a good chance of being able to score a discount on a house in Milton, like this one for sale at 42 Haig Rd. Pic: realestate.com.auLISTEN up bargain homehunters.Even in the current market, it is possible to buy a home for less than its advertised price and get a good deal — you just need to know where to look.Heard of vendor discounting? It’s a term used to describe the average percentage difference between the original asking price of a property and the eventual sale price.Armed with this figure, savvy househunters have some serious bargaining power when it comes to buying a home.According to the latest CoreLogic figures, these are the suburbs in the greater Brisbane region where the highest vendor discounting has occurred.If you’re looking to buy and are happy to venture outside of Brisbane, it might be worth considering Park Ridge, about 19km south of the CBD. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE This house at 19 Wombat Crescent, Rochedale, is for sale. Rochedale has a high rate of vendor discounting. Pic: realestate.com.auAt the other end of the scale, if you’re selling your home, you’d be better off living in a suburb with a low average vendor discount.Kalinga, 7km north of the CBD, tops the list in Greater Brisbane.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours agoThis property at 72 Park Rd, Kalinga, is for sale. Kalinga has the lowest average vendor discount rate in Greater Brisbane. Pic: realestate.com.auIn the year to March 2017, not one vendor has had to reduce their asking price on a house in Kalinga.Nearby Nudgee, also on Brisbane’s northside, comes second with home sellers only missing out on getting their asking price by 1.7 per cent on average.Agent Dwight Colbert of Ray White Aspley said he wasn’t surprised Nudgee was near the top of the list. “I own property in the area and I’ve always said Nudgee and Banyo would be areas that would hold their value, and they do,” he said.“You’re not too far from the Brisbane CBD whilst being a hop, skip and jump to the airport. There are great schools there too.”Mr Colbert said the suburb had a community feel and friends of locals often bought into the area. You’ve got a good chance of being able to score a discount on a house in Milton, like this one for sale at 42 Haig Rd. Pic: realestate.com.auAnd closer to the city in Milton, they’re snapping up homes for 9.8 per cent less than their asking price.You might be surprised to hear the million-dollar median suburbs of Highgate Hill and Rochedale are also worth checking out, with average vendor discounts of 9.5 per cent and 9 per cent respectively. This house at 47 Annandale St, Keperra, is for sale. Keperra has one of the lowest average vendor discount rates in Greater Brisbane. Pic: realestate.com.auThe suburbs of Keperra and Fitzgibbon tie for third place, both with average vendor discounts of only 1.8 per cent.In the greater Brisbane region, Lawnton in Moreton Bay and South Ripley in Ipswich also made the list of top 10 suburbs, with vendors only having to reduce their asking prices by 2 per cent.The median house price in Lawnton is an affordable $379,000.BIGGEST DISCOUNT SUBURBS FOR HOUSES IN GREATER BRISBANESuburb Km to CBD No. sold (12 mths) Median house price Vendor discountPark Ridge 19 32 $555,000 13.9%Park Ridge South 29 25 $620,000 12.5% Mount Ommaney 13 34 $815,000 9.9% Milton 2 30 $965,000 9.8% East Ipswich 29 35 $269,000 9.7% Highgate Hill 2 45 $1,185,000 9.5% Rochedale 14 35 $1,045,000 9%Churchill 33 44 $262,500 8.7% Carbrook 32 22 $915,000 8.4% Blackstone 28 23 $290,000 8.3% (Source: CoreLogic) This house at 171-183 Merluna Rd, Park Ridge South, is for sale. Park Ridge has the highest vendor discount rates in greater Brisbane. Pic: realestate.com.auHome buyers are scoring discounts of nearly 14 per cent on average for a house in the Logan suburb.The median house price in Park Ridge is $555,000.In Mount Ommaney, in Brisbane’s west, househunters are getting nearly 10 per cent off the price of a house.last_img read more

Start reading Want a discount on a home? These are the Brisbane suburbs with the most bargaining power

Brisbane home prices: Find out what your suburb is now worth

first_img1. Carindale 13.4%2. Indooroopilly 13.3%3. Chapel Hill 12.7%4. Hendra 10.8%5. Brighton 10.6%6. Coorparoo 10.6%7. Mount Gravatt East 8%8. Calamvale 8%9. Morningside 7.8%10. Wavell Heights 7.4% Renee Jackson at the apartment she is selling in New Farm, which saw the highest unit price growth in Brisbane in the September quarter. Image: AAP/John Gass.IT IS one of the fastest growing regions in the country and now house prices in Moreton Bay are catching up, with homeowners in some suburbs pocketing double digit gains in just a few months.Housing affordability and high levels of infrastructure spending pushed up house prices in the suburbs of Woody Point and Scarborough by a whopping 29 per cent in the September quarter. Scarborough Beach pictured from The Esplanade, Scarborough. The median house price in the suburb jumped 29 per cent in the September quarter, according to the REIQ.The latest Real Estate Institute of Queensland quarterly market monitor, released exclusively to The Courier-Mail today, reveals Greater Brisbane’s housing market improved slightly over the year, while the unit market underperformed.The annual median house price for Brisbane LGA fell 0.4 per cent for the year to the end of September to $675,000. This four-bedroom house at 9 Kalimna Street, Loganholme, is for sale for offers over $499,000.But many suburbs posted strong price gains, including Loganholme, where the median house price jumped 16.8 per cent, and Carindale and Indooroopilly, which saw house price gains of 13 per cent.New Farm recorded the strongest growth in apartment prices, with the median unit price jumping more than 23 per cent in the quarter. This four-bedroom apartment at 3/81 Moray St, New Farm, is for sale.Unit prices in neighbouring Teneriffe also outperformed by 14.3 per cent.“REIQ data shows that Queensland’s market remains less volatile that southern markets, providing relative stability for homeowners and investors,” REIQ CEO Antonia Mercorella said.“Interest rates remain low and banks continue to loosen mortgage restrictions to enable more buyers to access home loans.” REIQ CEO Antonia Mercorella. Photo: Claudia Baxter.Brisbane couple Renee and Jonathan Jackson are selling their three-bedroom, two-bathroom apartment in New Farm with a price guide of $1 million.Mrs Jackson said it was a difficult decision to put the property at 10/108 Sydney Street on the market because it was “the size of a small house and opposite New Farm Park”. Unit prices in New Farm increased 23 per cent in the September quarter, according to the REIQ.She said she was surprised unit prices had increased so sharply in the suburb.The couple are hoping to buy a house with a backyard to start a family.“It would be lovely to be able to afford a house in New Farm, but it will depend on prices,” Ms Jackson.“If we found a cottage we could renovate, that would be great.” This unit at 10/108 Sydney St, New Farm, is for sale.Marketing agent Aaron Woolard of Place – New Farm said he was surprised by the 23 per cent jump in the median unit price in the suburb, but had noticed a definite increase in how much buyers were prepared to pay.“Every (unit) sale we’ve been doing recently has been a little bit above the last one in the building,” Mr Woolard said.He said apartments were in strong demand in New Farm because there was a shortage of stock.“There just isn’t a lot to choose from,” he said.“Two-bedroom, two-bathroom (units) are always consistently popular, but one and two bedders are also bringing appeal.” This four-bedroom house at 45 Kate St, Woody Point, is on the market.Terry Ryder’s Hotspotting report named the Moreton Bay region as one of the top 10 for investors to buy right now, with its proximity to the Brisbane CBD and Sunshine Coast, plus its many lifestyle attractions, proving attractive.“This is attracting interstate migrants, first-home buyers and investors to the area, driving strong demand for housing,” it said. House prices have jumped in the Moreton Bay suburb of Scarborough.“With ample land suitable for development, combined with recent changes to rezoning laws, the number of applications for residential ­estates has increased in the last 12 months.“These are accompanied by construction of the $2 billion North East Business Park and a new university campus, which are creating new employment in the area.” Woody Point house prices grew 29 per cent in the September quarter, according to the REIQ. Image: AAP/Richard Walker.But Ms Mercorella said she was concerned about the state government’s proposed rental reforms, which she said had the potential to deter future investors from entering the rental market and threatened to push current investors out.“The proposed new laws are a slap in the face to every day ‘mum and dad’ property owners who provide the majority of housing to Queensland’s renters,” Ms Mercorella said.“If these laws come to pass, they have the potential to derail the stability of the rental market, and we are already seeing signs of this, with agents reporting an increase in inquiries from investors looking to sell their properties.” Suburb Quarterly change in median sale price TOP 10 GREATER BRISBANE SUBURBS FOR HOUSE PRICE GROWTH SEPT QTR Suburb Quarterly change in median sale price 1. Woody Point 29.3%2. Scarborough 28.3%3. Loganholme 16.8%4. Crestmead 11.5%5. Alexandra Hills 10%6. Hillcrest 9.7%7. Marsden 7.5%8. Goodna 6.8%9. Petrie 6.8%10. Wellington Point 6.8% TOP 10 BRISBANE LGA SUBURBS FOR HOUSE PRICE GROWTH IN SEPT QTR 1. New Farm 23.1%2. Teneriffe 14.3%3. Calamvale 4.5%4. Indooroopilly 2.6%More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours ago5. Clayfield 2.5%6. West End 2.2%7. Carina 1.7%8. Carina Heights 0%9. Newstead -0.2%10. Nundah -1.9% TOP 10 GREATER BRISBANE SUBURBS FOR UNIT PRICE GROWTH SEPT QTR 1. Cleveland 10.7%2. Redcliffe -12.9%3. Caboolture -31% 4. N/A5. N/A6. N/A7. N/A8. N/A9. N/A10. N/A(SOURCE: REIQ, data obtained from CoreLogic RPData (www.corelogic.com.au). Suburbs listed are those with more than 19 sales for the quarter. Those suburbs with 19 sales or less are not included. Enquiries about the reproduction of part or all of the information should be directed to the Corporate Affairs Division, REIQ. Based on or contains data provided by the State of Queensland (Department of Natural Resources and Mines) 2019. In consideration of the State permitting use of this data you acknowledge and agree that the State gives no warranty in relation to the data (including accuracy, reliability, completeness, currency or suitability) and accepts no liability (including without limitation, liability in negligence) for any loss, damage or costs (including consequential damage) relating to any use of the data. Data must not be used for direct marketing or be used in breach of the privacy laws.) TOP 10 BRISBANE LGA SUBURBS FOR UNIT PRICE GROWTH IN SEPT QTR Suburb Quarterly change in median sale price Suburb Quarterly change in median sale pricelast_img read more

Start reading Brisbane home prices: Find out what your suburb is now worth