Brisbane Auction rates regularly sit around 50% (domain.com.au current Brisbane…
by Ali • 2 min read
Brisbane Auction rates regularly sit around 50% (domain.com.au current Brisbane auction clearance rate sits at 52% and realestate.com.au report 41%). This means you are just as likely to sell your property at auction as have it passed in. Therefore, it is important to know what steps to take in ensuring the best possible price when selling. Experts say houses that have undergone a cosmetic makeover are far more likely to sell at auction as those left in original condition. Painting is one of the best value transformation tools for home and unit owners.
Sam Festa from Rochele Painting says “A large proportion of our clients come to us because they are getting ready to put their property on the market and are wanting to tidy things up with a paint job to ensure their property gets the best possible result. Residential painting accounts for 50% of our business and we have been in business for over 40 years. We have seen a definite increasing trend towards people painting pre-sale due to how competitive the property market is. Buyers being more discerning these days allows them to pick a DIY paint job over a professional one and therefore a professional paint job allows home owners to get a competitive edge and maximize the value of their property.”
Local real estate agency Ray White Ascot currently has an Auction clearance rate of 74% so they know what makes for a better sales result. Nick Kouparitsas from Ray White Ascot says “first impressions are so important when selling your home, having the outside of the house painted gives the home a clean fresh appearance and it can make all the difference when trying to attract multiple buyers and achieving a premium price. Painting inside the building we often recommend the sellers to use pale neutral colours as it makes the rooms look larger and gives the sellers and the purchaser the chance to add there own colour to the rooms by way of curtains, paintings and furniture.”
A case study to prove this is when a two bedroom Queenslander in Albion was purchased in 2012 for $550,000 and after a paint job by Rochele Painting and a renovation it sold at Auction by Nick Kouparitsas in 2016 for $802,000. This is evidence of the value which can be added to your property if a cosmetic makeover is undertaken prior to putting it on the market.