{"id":25287,"date":"2020-05-19T11:09:42","date_gmt":"2020-05-18T23:09:42","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=25287"},"modified":"2020-05-19T11:09:42","modified_gmt":"2020-05-18T23:09:42","slug":"australian-homebuyers-have-been-snapping-up-bargains-as-sellers-sweat-during-the-market-downturn","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australian-homebuyers-have-been-snapping-up-bargains-as-sellers-sweat-during-the-market-downturn\/","title":{"rendered":"Australian homebuyers have been snapping up bargains as sellers sweat during the market downturn"},"content":{"rendered":"<p><strong>PHOTO: Australian property market<\/strong><\/p>\n<ul class=\"canvas-list List(d)\" data-type=\"list\" data-reactid=\"19\">\n<li data-reactid=\"20\"><strong>Advertised prices throughout Australia&#8217;s capital cities are routinely being slashed, new analysis from Domain shows.<\/strong><\/li>\n<li data-reactid=\"21\"><strong>Throughout February, March and April, the proportion of discounted properties soared, doubling and tripling on last year&#8217;s levels in Sydney and Melbourne respectively.<\/strong><\/li>\n<li data-reactid=\"22\"><strong>The level of discounting typically indicates a market downturn and foreshadows price declines, analyst Nicola Powell noted.<\/strong><\/li>\n<\/ul>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"24\">In a softening property market, fortune favours the brave.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"25\">The latest analysis from Domain shows that while pickings might be slim, those Australians set on buying are being duly rewarded as those keen to sell slash their asking price to make it happen.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/australian-house-prices-to-fall-by-50-experts-say\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image\" src=\"https:\/\/i0.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2020\/05\/US-finance-guru-Harry-Dent.jpg?resize=460%2C270&amp;ssl=1\" alt=\"Australian house prices\" width=\"460\" height=\"270\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/australian-house-prices-to-fall-by-50-experts-say\/\" rel=\"bookmark\">Australian house prices to fall by 50% \u2013 experts say<\/a><\/h2>\n<\/header>\n<\/div>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"26\">Sydney, the country&#8217;s most expensive market, has unsurprisingly seen one of the biggest rises, with nearly one in seven properties selling at a discount in March and April \u2013 or twice the rate as this time last year. Melbourne&#8217;s meanwhile tripled, with around one in nine asking prices getting a haircut.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"27\">&#8220;It is a striking comparison since this time a year ago was around the price trough of the 2017-19 downturn in Sydney and Melbourne,&#8221; Domain senior analyst Nicola Powell noted.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" style=\"margin: 0px 0px 1em; color: #26282a; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 15px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-style: initial; text-decoration-color: initial;\" data-reactid=\"28\">They were followed closely by Adelaide and Canberra where more than 8% were discounted, and Brisbane where 7.3% of property prices were reduced. The caveat here being that<a href=\"https:\/\/www.businessinsider.com.au\/australian-property-auctions-ban-coronavirus-impact-sales-2020-3\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">\u00a0the number of properties on the market has also declined<\/a>\u00a0dramatically in recent months.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"29\">&#8220;Most capital cities saw a peak in March, but Perth, Darwin and Hobart hit a peak earlier in February, with the proportion of listings discounted subsequently declining over March and April,&#8221; Powell said. &#8220;This coincides with the lower coronavirus cases and quicker flattening of the curve compared to other jurisdictions, indicating a quick reaction from vendors and improved sentiment once containment was achieved locally.&#8221;<\/p>\n<p data-reactid=\"29\">READ MORE VIA <a 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&rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":25068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098573,478098730,478098512,478099519,478098521,478098566,478098519,478098535,478098513,478101743,478099125,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098509,478098536,478098618],"class_list":["entry","author-data123nz","post-25287","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-apartment","tag-auctions","tag-australia","tag-australian-property-market","tag-australians","tag-first-home-buyers","tag-home-ownership","tag-house-prices","tag-property","tag-property-correction","tag-property-crash","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-sydney","tag-sydney-property"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australian homebuyers have been snapping up bargains as sellers sweat during the market downturn - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/australian-homebuyers-have-been-snapping-up-bargains-as-sellers-sweat-during-the-market-downturn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian homebuyers have been snapping up bargains as sellers sweat during the market downturn - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Australian property market Advertised prices throughout Australia&#8217;s capital citiesRead More &rarr;\" \/>\n<meta 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