Midyear state of affairs: A closer look at the country’s markets
With market conditions changing at varying degrees across the country, seven experts from Property Investment Profession...
Vendors in Melbourne have been heavily discounting their asking prices, according to the latest RP Data statistics.
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.