Hobart spends the most time on market and discounts the most: RP Data

Hobart houses are spending the longest time on the market - an average of 77 days - and are being discounted the most at an average of -12.2%, according to RP Data.

Hobart units are also being discounted the most around the nation at an average of -9.6% and an average of 103 days on the market, according to the week ending June 2 report. 

Melbourne comes in second with an average house discount of -8.7% and an average of 47 days on the market.

Adelaide units are the second most discounted at an average of -6.2% and an average of 76 days on the market.

‘Time on market’ (TOM) is simply the average number of days between when a property is first listed for sale and the contract date.

The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.

The statistics are calculated across results received by rpdata over the past week and include properties transacted over the past four weeks.

The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.