Most home sellers are willing to offer discounts in order to lay hands on the money as quickly as possible.
It’s become a norm for buyers to go only for the home sales that provides room for the negotiations resulting to a drop from the advertised price – commonly known as vendor discounts.
However, some sellers have shunned the idea of any lower price other than what they have put on the market.
The Risks of Fixed Prices
Remaining firm on a fixed price for a property has several disadvantages. The greatest is the possibility of scaring away potential buyers who would think the price is too high.
In addition, you may not have a chance to analyse the market to know how high the interest of buyers runs. It may also take too long for a sale to be made since a fixed price fails to arouse a sense of urgency in the buyers.
Taking Advantage of Fixed Prices
Like home sellers in Gaythorne have realised, selling at a fixed price has its advantages too. For starters, you only attract really interested buyers, which makes it easier to make a sale.
A fixed price also means that the first person to offer it takes the property. Therefore, interested buyers are quick to put in an offer, afraid that it will be grabbed by someone else.
According to data released by CoreLogic, Gaythorne’s vendor discount rates are -2.3 percent, the lowest in the entire region covered by Brisbane.
This is in line with the sellers’ determination to be realistic about the price tags of their properties. In addition, Gaythorne is one of the smallest suburbs in Brisbane with a limited number of homes going for an average price of $607,000.
Rising Demand for Housing
The rise in demand for housing in Gaythorne is influenced by several factors. To start with, the city centre is only seven kilometres away.
People want to live as near to their workplace as possible. With major employment hubs surrounding Gaythorne, the suburb has attracted rising interest from families in search of quality but affordable accommodation.
Some of these families include people working at the nearby Enoggera Army Barracks.
With a vendor discount of -2.9 percent, Wooloowin has not been left far much behind. In tow are houses in Ferny Hills and Chermside West both at -3 percent vendor discount and a median price of $512,000 and $530,000 respectively.
If buyers want a house in Berrinba, they have to part with an approximate sum of $425,000 at a vendor discount of -3.2 percent.
House Units in Town
The dropping of vendor discounts in home sales is also reflected in house units. For instance, Holland Park sellers have cut down their rates by -2 percent with a median price of $462,000. Following closely are Arana Hills sellers at -2.1 percent, offering a median price of $380,000.
Both Sunnybank and Tarragindi are comfortable with a vendor discount of -2.2 percent. Their respective median prices are $460,000 and $413,000. House units sellers at Camp Hill are content with a $531,000 median price at a vendor discount of -2.6 percent.
The low vendor discounts are strong evidence of rising demand for housing. Therefore, the likelihood of any negotiations on the prices is steadily dwindling since houses offered for the right prices are simply not enough to satisfy the demand. They are taken as soon as they are put up for sale.