Business
Vendors slash asking prices as uncertainty persists – The Australian Financial Review
Sydney and Melbourne sellers cut their asking prices amid a rapidly weakening market.
“It’s correlated to price growth, so in a weaker market, you get a higher level of discounted listings and in a strong market, fewer vendors would cut their prices,” Dr Powell said.
“At the moment, vendors feel compelled to revise down their asking prices, which means that values are likely to continue to fall each month because we’re still seeing a portion of vendors having to lower their asking prices.”
The weak vendor sentiment was already reflected in CoreLogic’s dwelling price index showi…
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