Gold Coast on the mend, but slight shift to higher discounting in Brisbane: APM Domain Group

There was a slight shift to higher required vendor discounting and a longer time on market during June, according to the latest Australian Property Monitors report from the Domain group.

Brisbane was the most telling reversal given its days on market jumped from 84 to 104 days. The discount required of Brisbane vendors to secure a sale rose from 5.5% to 6.2%.

The Gold Coast still had the highest required vendor discounting but its 6.2% rate was well below the 15% peak in 2011.

The Gold Coast also notched up quicker selling properties, down to 106 days - a marked improvement of the 180 days required in early 2012.  

Sydney vendors typically need a 5.1% discount off their asking price to achieve private treaty sales, according to the APM report. It was the lowest of the cities, but the highest level since December last year.