๐ฉ๐ฒ๐ป๐ฑ๐ผ๐ฟ๐ ๐๐ถ๐ป๐ฑ๐ถ๐ป๐ด ๐ถ๐ ๐๐ฎ๐๐ถ๐ฒ๐ฟ ๐๐ผ ๐๐๐๐ฟ๐ฎ๐ฐ๐ ๐๐๐๐ฒ๐ฟ๐
In another sign the balance of power in the property market is shifting from buyers to sellers, the level of vendor discounting has continued to fall.
ย
In May, the median vendor discount โ which captures the difference between the price at which a vendor lists their property for sale and the price they ultimately accept โ was 3.8% in the combined capitals and 4.5% in the combined regions, according to CoreLogic.
ย
That compares to 3.9% and 4.6% the previous month.
ย
As the graph shows, vendor discounting in the combined capitals has been steadily falling since September last year, when it reached 4.4%. In the regions, the decline is more recent.
ย
The stronger the market, the less discounting that vendors need to do to find buyers. So a reduction in discounting reflects a strengthening in market conditions.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll 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.
