Daniel Clarke’s Post

#Property #sellers holding firm on their prices. #Vendor discounting has declined in six capital cities over the past year, suggesting market conditions have moved in favour of sellers. Between the December quarters of 2022 and 2023, the median vendor discount (i.e. the difference between the initial listing price and final selling price) fell from 4.4% to 3.7%, according to CoreLogic. Discounting declined in every capital city, except for Adelaide (where it remained steady) and Darwin (where it declined). Perth is the hottest capital city property market in the country right now, so it's no surprise it has the lowest level of discounting (just 2.7%). Conversely, Darwin's property market is quite cool, which is reflected in its high level of discounting (4.7%). #housingmarket #realestate

Property sellers holding firm on their prices Vendor discounting has declined in six capital cities over the past year, suggesting market conditions have moved in favour of sellers. Between the December quarters of 2022 and 2023, the median vendor discount (i.e. the difference between the initial listing price and final selling price) fell from 4.4% to 3.7%, according to CoreLogic. Discounting declined in every capital city, except for Adelaide (where it remained steady) and Darwin (where it declined). Perth is the hottest capital city property market in the country right now, so it's no surprise it has the lowest level of discounting (just 2.7%). Conversely, Darwin's property market is quite cool, which is reflected in its high level of discounting (4.7%). #property #realestate #homeloans

Property sellers holding firm on their prices Vendor discounting has declined in six capital cities over the past year, suggesting market conditions have moved in favour of sellers. Between the December quarters of 2022 and 2023, the median vendor discount (i.e. the difference between the initial listing price and final selling price) fell from 4.4% to 3.7%, according to CoreLogic. Discounting declined in every capital city, except for Adelaide (where it remained steady) and Darwin (where it declined). Perth is the hottest capital city property market in the country right now, so it's no surprise it has the lowest level of discounting (just 2.7%). Conversely, Darwin's property market is quite cool, which is reflected in its high level of discounting (4.7%). #property #realestate #homeloans #therentalspecialists

Property sellers holding firm on their prices Vendor discounting has declined in six capital cities over the past year, suggesting market conditions have moved in favour of sellers. Between the December quarters of 2022 and 2023, the median vendor discount (i.e. the difference between the initial listing price and final selling price) fell from 4.4% to 3.7%, according to CoreLogic. Discounting declined in every capital city, except for Adelaide (where it remained steady) and Darwin (where it declined). Perth is the hottest capital city property market in the country right now, so it's no surprise it has the lowest level of discounting (just 2.7%). Conversely, Darwin's property market is quite cool, which is reflected in its high level of discounting (4.7%). #property #realestate #homeloans #therentalspecialists

Property sellers holding firm on their prices Vendor discounting has declined in six capital cities over the past year, suggesting market conditions have moved in favour of sellers.   Between the December quarters of 2022 and 2023, the median vendor discount (i.e. the difference between the initial listing price and final selling price) fell from 4.4% to 3.7%, according to CoreLogic.   Discounting declined in every capital city, except for Adelaide (where it remained steady) and Darwin (where it declined).   Perth is the hottest capital city property market in the country right now, so it's no surprise it has the lowest level of discounting (just 2.7%). Conversely, Darwin's property market is quite cool, which is reflected in its high level of discounting (4.7%).   #buywithguy #brisbanebuyersagent #registeredvaluer #brisbaneproperty #sydneyproperty #sydneyrealestate #melbourneproperty #melbournerealestate #property #realestate #homeloans

Property Sellers Holding Firm on Prices Vendor discounting has declined in six capital cities over the past year, suggesting market conditions have moved in favour of sellers.   Between the December quarters of 2022 and 2023, the median vendor discount (i.e. the difference between the initial listing price and final selling price) fell from 4.4% to 3.7%, according to CoreLogic.   Discounting declined in every capital city, except for Adelaide (where it remained steady) and Darwin (where it declined).   Perth is the hottest capital city property market in the country right now, so it's no surprise it has the lowest level of discounting (just 2.7%). Conversely, Darwin's property market is quite cool, which is reflected in its high level of discounting (4.7%).   #property #realestate #homeloans @Sabea Financial 0411 482 208 | mshad@sabea.com.au

Property sellers holding firm on their prices Vendor discounting has declined in six capital cities over the past year, suggesting market conditions have moved in favour of sellers. Between the December quarters of 2022 and 2023, the median vendor discount (i.e. the difference between the initial listing price and final selling price) fell from 4.4% to 3.7%, according to CoreLogic. Discounting declined in every capital city, except for Adelaide (where it remained steady) and Darwin (where it declined). Perth is the hottest capital city property market in the country right now, so it's no surprise it has the lowest level of discounting (just 2.7%). Conversely, Darwin's property market is quite cool, which is reflected in its high level of discounting (4.7%). #property #realestate #homeloans

Property sellers holding firm on their prices   Vendor discounting has declined in six capital cities over the past year, suggesting market conditions have moved in favour of sellers.   Between the December quarters of 2022 and 2023, the median vendor discount (i.e. the difference between the initial listing price and final selling price) fell from 4.4% to 3.7%, according to CoreLogic.   Discounting declined in every capital city, except for Adelaide (where it remained steady) and Darwin (where it declined).   Perth is the hottest capital city property market in the country right now, so it's no surprise it has the lowest level of discounting (just 2.7%). Conversely, Darwin's property market is quite cool, which is reflected in its high level of discounting (4.7%).   #property #realestate #homeloans

Small price falls imminent for Sydney and Melbourne The number of properties listed for sale across Australia continues to rise year-on-year, according to SQM Research, which means more choice for buyers and less favourable conditions for sellers. There were 239,660 properties listed for sale in April. That was down 6.4% compared to the previous month – due to the Easter long weekend and school holidays – but up 5.6% year-on-year. “Total listings have been returning back to their normal long-term average levels after recent years of being in acute shortage,” SQM managing director Louis Christopher said. “I also note that asking prices, while they did rise nationally by 0.5%, fell in our two largest capital cities signalling some vendor caution and eagerness to meet the market. We will be watching this indicator more closely over the weeks and months ahead. “As the realisation sets in for all market participants that an interest rate cut is not imminently coming, we expect market caution to build over the winter months, and so do not at this time rule out some housing price falls in our largest capital cities for the second half of 2024.” #property #realestate #homeloans

Discounting at 4.0% in regions, 3.5% in capitals Vendor discounting has declined in regional property markets over the past six months while remaining unchanged in the combined capital cities, according to CoreLogic. During the three months to January, properties sold for a median vendor discount of 4.0% in the regions (compared to 4.3% in July) and 3.5% in capital cities (the same as July). That included city-by-city vendor discounts of: * Perth = 2.6% (was 2.7% in July) * Brisbane = 3.0% (3.3%) * Canberra = 3.4% (3.4%) * Sydney = 3.6% (3.4%) * Melbourne = 3.8% (3.6%) * Adelaide = 3.8% (4.0%) * Hobart = 4.2% (5.4%) * Darwin = 4.8% (4.9%) What’s interesting about vendor discounting is not whether it occurs – because, in any given market, the typical property ends up selling for less than the original listing price. Rather, what matters is the level of discounting (less discounting means a hotter market, more means a cooler market) and whether that level is changing. #property #realestate #homeloans