The property market in Brisbane has been on shaky ground over the last year, but the future looks hopeful for Queensland’s capital city. Low interest rates have lowered entry barriers into the property market, which could set Brisbane on the road to real estate recovery.
While the average median house price for Brisbane sits on $464,865, having increased by 2.8% over the last year, the median unit price fell by 3.8%. However, generally low house and unit prices mean that Brisbane has been earmarked as a city with strong investor potential, especially when these prices are compared to the drastically higher property costs of neighbouring capital city, Sydney.
Brisbane is an investor’s market, so it’s no surprise that many homeowners are now considering selling and buying properties with development potential. Indeed, LocalAgentFinder research reveals that the most desirable properties in Brisbane right now are those that can be renovated, as well as those with lifestyle benefits like schools and shopping districts close by.
What you need to know about real estate agent fees in Brisbane
As of late last year, real estate agent fees were deregulated in Queensland, meaning that agents are now able to set their own commission rates, and these fees are guided by market regulation. Real estate agent fees are now subject to a range of factors, and vary depending on what services an agent includes in the commission fee.
The average real estate agent fee in Brisbane ranges between 2.5% to 2.75%, figures hauntingly close to the previous regulated fee of 2.5%. It can be revealed that the average commission rate is more or less consistent across Brisbane, and doesn’t fluctuate to a high degree even when Brisbane CBD is compared to outer regions of the capital city. Suburbs like Wynnum, which has experienced good growth in the property market over the last year, tout higher commission rates than the Brisbane average.
The common trend is that lower real estate agent fees are charged in more densely populated areas with higher property prices and a higher number of agents servicing an area. We still have to see this pattern take place in Brisbane. It’s still early days for the newly deregulated city, which means that stronger patterns in average real estate agent fees are set to take place over the coming year.
What to consider when researching real estate agent fees in Brisbane
- Deregulation of agent fees came into place in Queensland in late 2014, so it’s worth comparing real estate agent fees from different agents in your area.
- Real estate agent fees across Brisbane will generally be lower the closer your property is located to the CBD. In order to get a good idea of agent fees in your suburb and what services they can offer you, it’s worth comparing several local agents.
- When selecting an agent it’s important to take into consideration the agent’s knowledge of the Brisbane market, including who is the best market for your property.
Want to find out exactly what agents are charging in your area? LocalAgentFinder is a 100% free, impartial, online comparison service that lets you compare a wide range of local agents to find the agent that’s right for you. Get started and become an empowered and informed home seller.
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