Property discounting down in most capitals: APM

Vendors were able to sell their properties in July without discounting as steeply as they did in June in most capitals, according to data released by Australian Property Monitors this week. 

The amount of discounting required fell slightly in Sydney (from 6.7% to 6.4%), Melbourne (7.5% to 7.3%) and Canberra (5.2% to 5%).

The drop was a little more pronounced in Brisbane (7.9% to 7.5%) and Hobart (10.2% to 9.7%). 

The average amount of discounting increased sharply in Darwin (from 5.5% to 6.5%), which was also the only capital city where the number of days property lingered on the market increased. 

The amount of discounting remained virtually the same in Adelaide (from 7.6% to 7.7%) and Perth (from 6.4% to 6.5%).

Source: APM