Queensland’s picturesque, coastal capital of just under 2.5 million people has shown a solid price rise in the housing market, with substantial gains in Corinda, next to the Brisbane River. Meanwhile, demand for units has been substantially slower, with an auction clearance rate of 59%. This may affect real estate agent commission, with lower commission on houses, and higher commission on units near the CBD and elsewhere. It might be time to put a house on the market and purchase an apartment, especially in metropolitan areas like Kangaroo point, right next to the Gabba.
Since December 1st 2014, the laws regarding the regulation of real estate agent commission in Queensland have changed, allowing real estate agents to charge commission at any percentage. Previously there was a cap on the maximum charge, but now the deregulated system allows agents to differentiate themselves in the real estate market on the basis of price as well as the services offered. This will possibly mean that outer suburbs, like Ipswich on the Bremer River, incur a higher real estate commission.
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