Hobart dwellings lead the way in vendor discounting: RP Data

Hobart houses are spending the longest time on the market - an average of 86 days - and are being discounted the most at an average of -7.5%, according to RP Data for the week ending August 25. 

Hobart units are also spending the longest time on the market, at an average of 96 days and an average discount of -11.3%.

Sydney houses spend the shortest time on the market - an average of 30 days - but Darwin houses discount the least at -3.1%.

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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.

Alistair Walsh

Alistair Walsh

Deutsche Welle online reporter

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