Melbourne vendors discounting
Vendors in Melbourne have been heavily discounting their asking prices, according to the latest RP Data statistics.
The largest vendor discounts were recorded for units in Broadmeadows and Vermont, with reductions of 25 per cent and 19 per cent respectively.
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Six months previously, the highest vendor discounts were recorded in Dandenong, with an average of 10.1 per cent.
Historically, the level for Melbourne has sat at around 6 per cent.
The discounting, however, is not indicative of falling property prices, with Vermont actually reporting an increase over the past 12 months.
Homes are taking 17 days longer to sell, shifting from 36 days in 2010 to 53 currently, the RP Data figures indicate.
Heavy vendor discounts were also seen in Park Orchards (17.7 per cent), Sea Lake (20 per cent), Charlton (17.2 per cent) and Fingal (16.7 per cent).
