by Neil King
31 January 2023 / 5 min read
Cost of selling a house in QLD 2023
The cost of selling a house in Queensland varies depending on location, particularly in commission rates, which can be higher in remote areas. Since 2014, commission rates have been deregulated, and there is no longer a standard commission structure or legislation governing agent charges. Comparing and negotiating your agent's fee can be an effective way to save money, but remember, the lowest fee isn't always the best. There's more value to be gained from an agent who understands the local market and can attract the right buyer.
In general, if you're calculating the cost of selling a house in Queensland, you'll need to consider these expenses:
Real estate commission:
On average, real estate agents in QLD charge a 2.8% commission rate (but expect to pay more or less depending on the location of your property and the competition in the area).
In metropolitan areas of Brisbane, the cost of a 45-day marketing campaign ranges between $600 to over $2000.
Conveyancing in QLD typically ranges between $700 and $1300.
Early exit and mortgage discharge fees in QLD usually range between $150 and $1,500.
Paying to style and furnish your home could cost between $2000 and $8000.
Buyer interest in Queensland 2023
The past couple of years has seen Queensland become a powerhouse of the Australian real estate market with significant growth in many locations, even amidst floods in early 2022. And although prices have decreased since June, along with the rest of Australia, they still remain 30% higher than before the pandemic. Interstate migration has been the most significant contributor to Queensland's upswing, mainly from Victoria and New South Wales. Affordable living has been the biggest draw in previous years. Still, as buyers' priorities change post-pandemic, some people are willing to pay a higher price for properties with a little more space and security, especially in coastal lifestyle locations like Sunshine Coast or the Gold Coast. Keeping this in mind for 2023 may be an incentive to spend more on marketing or home staging to attract the best buyer.
Brisbane is forecasted to have a higher growth rate of 1.9% compared to the rest of Queensland's 1.4% in 2022-2023. This can make it more difficult to predict the average cost of selling a house in Queensland, as increased competition may lead to lower agent Commission and higher advertisement expenses.Find an agent
Should you sell your Queensland property in 2023?
Many Australian cities are expected to fall in price over 2023 as part of one of the country's deepest property corrections in over 30 years. However, the return of tourism and international buyers, along with Brisbane's expected growth in the years leading to the 2032 Olympics, gives homeowners a lot of authority when negotiating between prospective buyers. Earning the best price for your home can start with keeping up to date with the average cost of selling a house in QLD. The most important part to remember is to always do your own research and seek professional advice when making a big decision, like selling your property.Find an agent
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