Overall the property market has showed positive signs of growth in the nation’s capital. Although Canberra is a small market, it is becoming a good bet for potential investors. Despite some fluctuation over the last year, the the median house price in Canberra has increased by 8.4%, and sat at $753,516 in December 2017. (Source: Domain Group House Price Report, December 2017).
Topping the list of buyer priorities are properties with beneficial lifestyle factors; house and apartments, close to schools, shopping districts and local amenities are looking desirable for home buyers and investors alike.
What do real estate agents charge in Canberra?
The average real estate agent commission rate is 2.21% in Canberra. The lowest fee charged is 1.4%, and the highest is 3.5%.
Real estate agent fees are deregulated in ACT meaning that agents usually set fees based on market demand, depending on ‘supply and demand’ in an area. In city areas there is a high demand for real estate agents so agents generally charge a lower commission rate, whereas regional areas have fewer servicing real estate agents, so a higher commission rate is usually the norm.
Real estate agent fees can vary dramatically depending on location and property type, so it’s always worth researching what agents are charging in your local area by comparing a number of local agents.
Find out more about real estate agent fees and commissions across Australia.
What to consider when finding the right agent to sell your home
Regional areas in ACT, like Queanbeyan, generally attract higher real estate agent fees than suburbs closer to metro Canberra.
Real estate agents don’t always include all services in their commission rate. Depending on the agent and your property type, agents may ask for an extra fee for services like marketing; make sure to ask what is included before signing a contract.
Want to find out what real estate agents are charging in your area? Want to find out what real estate agents are charging in ACT?
What’s the going commission rate in your neighbourhood? Compare real estate agents’ fees and servicesand take the first step to finding a local agent that is right for you. LocalAgentFinder is an impartial, online service has been helping homeowners compare and find real estate agents in their areas all over Australia for over eight years.
To determine the average commission by capital city, LocalAgentFinder took the average commission of all active agents in each city respectively on 21 March 2018. This included agents with tiered and fixed commission structures based on a $500,000 selling price.
This article was updated on 11th April 2018