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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

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