Vendor discounting lower in Sydney, but up in Melbourne and Brisbane in 2012: APM

Only Sydney and Perth vendors ended 2012 with lower private treaty discounting necessary to secure sales, according to Australian Property Monitors. Hobart and Canberra vendors were required to greatly amend their asking prices to achieve sales, the December APM figures suggest.

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Over the past year the amount of vendor discounting required to secure residential property sale is much lower in all capitals except Canberra and Hobart, a heat chart released by APM shows.

In Sydney, the average discount required in December 2012 was 6%, compared with 6.1% in November and 6.4% in December 2011.

Melbourne recorded a monthly increase in the required discounting, jumping from 6.9% in November to 7.2% in December. But this is lower than the required 7.8% in December 2011, APM research analyst Clinton McNabb said.

The limited sales in Darwin was not sufficient for a figure.