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Property sellers have become increasingly firm with their pricing over the past six months, pointing to an increase in buyer competition in many parts of the country.
Across Australia, the median vendor discount (i.e the reduction between the original asking price and final selling price) fell from 4.1% in the May quarter to 3.6% in the November quarter, according to CoreLogic.
That included a reduction from 3.8% to 3.3% in the combined capital cities and from 4.5% to 3.9% in the combined regions.
A reduction in discounting means that, due to a fear of missing out, buyers are increasingly raising their offers to meet vendorsβ prices, rather than the other way around.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donβt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weβll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
