Sellers risk losing 25% off asking price

A property’s poor first impression could see more than $170,000 knocked off the seller’s asking price, new research has revealed.

A survey by found that nine out of 10 buyers would make an offer below a property’s asking price if they were dissatisfied with the exterior, at 13 per cent on average – which equates to $90,452 off the median house price in Australia, according to the comparison website.

A third of buyers said they would offer 15 to 20 per cent below the asking price if they were unimpressed by a property’s street appeal, while 8 per cent said they would knock a quarter off the asking price – which equates to $173,947 off the median house price.

Of the states and territories, Queenslanders would discount their offers the most, at 15 per cent on average. Furthermore, buyers in the sunshine state were most inclined to offer 25 per cent less than the asking price.

[Related: The top 5 home features buyers will pay extra for]

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