Currently, Victoria has one of the strongest real estate markets in Australia, with median house prices continuing to grow steadily across the state. There was no downward trend in 2017 due to strong jobs growth in Melbourne, mostly due to interstate and overseas migrants continuing to flock to the city in large numbers.
Victoria has some of the lowest agent commission rates in the country as it is a highly competitive market. In Melbourne, the average commission rate is particularly low and sits below the state average. This should make finding a real estate agent who charges reasonable fees much easier if you are selling your home in 2018.
The Victorian market is highly competitive, providing reason for why the average real estate commission rate is 2.05%, below the national average. Typically, this drives costs associated with hiring an agent downwards.
However, the cost of hiring an agent is only one of a number of factors to consider when comparing real estate agents in your area. Real estate markets vary widely across Victoria, with local economies being impacted by a variety of different factors. So as well as finding a real estate agent who charges affordable fees, you need to find one who has their finger on the local economic pulse as well.