Hobart vendors discounting the most to secure sales: RP Data

Hobart vendors are forced to offer the deepest discounts in order to secure sales, according to RP Data. Hobart houses are selling for an average of 11.9% less than the vendor’s original price hopes, and units are selling for an average of 9.9% less.

These are significantly deeper discounts than the next most discounted capital, Brisbane, where house vendors offered discounts of 7.9% and unit vendors sold at 6% less than their original price hopes for the week ending February 24.

The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.

The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks.

The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.

By Cassidy Knowlton
Tuesday, 26 February 2013