{"id":29713,"date":"2020-12-18T10:37:49","date_gmt":"2020-12-17T21:37:49","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=29713"},"modified":"2020-12-18T10:37:49","modified_gmt":"2020-12-17T21:37:49","slug":"more-properties-are-selling-at-a-discount-but-the-discounts-are-getting-smaller","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/more-properties-are-selling-at-a-discount-but-the-discounts-are-getting-smaller\/","title":{"rendered":"More properties are selling at a discount, but the discounts are getting smaller"},"content":{"rendered":"

PHOTO: Selling a house in Melbourne has been incredibly difficult the past seven weeks during lockdown while private inspections have been banned.\u00a0Photo:\u00a0Peter Rae<\/span><\/strong><\/p>\n

Property buyers in Melbourne can expect more bargains than anyone else in Australia, with more than one in 10 home owners offering a discount on the sales price \u2013 a number nearly 10 per cent up on this time last year.<\/p>\n

New Domain figures reveal that 12.7 per cent of vendors in November gave buyers a markdown on the advertised price tag, compared to just 3.7 per cent doing that in November 2019.<\/p>\n

But then the discounts themselves aren\u2019t proving to be so big-hearted, at an average of four per cent, only slightly more generous than last year\u2019s 3.8 per cent off. But it was the only capital city where more money was knocked off this year than last.<\/p>\n

\u201cMelbourne was much more broadly impacted by COVID-19,\u201d said property market commentator Anna Porter, the founder of Suburbanite. \u201cThere\u2019s been far more fall-out for local business and employment than the other capital cities have seen, so more people are feeling the pinch.<\/p>\n

\u201cSome of those may be needing to sell, and there\u2019s nothing that secures a sale quicker than a price adjustment. Generally, around the rest of Australia, the property market is looking pretty strong and has been propped up by the government, and people have more confidence.\u201d<\/p>\n

While the other capital cities all also notched up greater numbers of homes being discounted than this time last year, the savings in November 2020 were all less than was being offered in November 2019.<\/p>\n

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