Higher discounts required in Sydney and Melbourne to achieve spring sales: APM
Increased private treaty discounting was necessary to secure sales across half of Australia's capital cities.
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Hobart listings still require the highest level of reduction, with a typical 9.1% discount needed against the original asking price, according to Australian Property Monitors.
Brisbane ranked second, with an 8% discount required, according to the recently released October data.
APM research analyst Clinton McNabb notes Canberra vendors historically typically need to adjust their expectations the least, with a current required 4.5% price adjustment to secure a sale, although with just the one month figure it was too early to be any strong renewed downward pattern.