I found this sale to be particularly interesting, not because of the 40% figure, but the other information provided in the article.
Doncaster East house sells for 40% above price guide... Read More
The first is the reserve was set at $900,000, but the published price guide was $800,000 to $880,000. It doesn’t really make sense how the property was advertised for $800,000-$880,000 if the reserve was $900,000. If the reserve is the lowest price the house is expected to sell for then the house sold for around 22% above the reserve. Given if a house sells, and if people get above the reserve, then the premium for this sale isn’t quite as good as the catchy headline catching would have us believe.
The second is the article includes a list of property sales the area which could be handy for buyers and sellers who wish to get an idea of what houses are selling for in the area.
In the end, if the seller and buyer are happy, that’s really all that matters.
- Kelvin Eldridge
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