Higher discounts required in Sydney and Melbourne to achieve spring sales: APM

Higher discounts required in Sydney and Melbourne to achieve spring sales: APM
Jonathan ChancellorOctober 30, 2012

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.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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