The Sydney neighbourhoods where property buyers can find the biggest discounts | TawarRazaghi
The region of Kogarah and Rockdale had on average the highest discounts of 10.1 per cent in April.Experts say it is just another indication of the market softening in buyers’ favour.A string of popular Sydney regions are offering some of the biggest discounts on homes for sale, new data reveals, as the property market continues to turn in buyers’ favour.
It was followed by North Sydney and Mosman, where houses were selling 8.1 per cent lower than their asking, up from 6.3 per cent the year prior. The figures do not include auction sales, the method used for homes judged likely to attract the highest level of competition. “It is more telling of the areas of the buyer mismatch and that could indicate that there is further price weakness in these suburbs.”She said the regions which had seen a reduction in discounts compared to last year had peaked earlier, such as the eastern suburbs – north region.
He said with more rate rises on the way, sellers had a choice to get out now or wait between two or three years before they could make a “comfortable sale”. “Sometimes they might go for sale [as private treaty] for the ones that aren’t as desirable or sellable.”
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