Interesting question. Are the property markets morphing into buyers markets? To answer that we'll look at the latest data. And well according to recent News Corp articles home seekers are bagging properties for an average of up to a fifteen percent discount below the list price in pockets of Sydney. They cite info from Suburb Data revealing that some house hunters are getting big discounts in suburbs such as Fairfield Heights and Harrington Park in Sydney where sellers are slashing prices by around 15 percent. These are actually high stress suburbs on my modelling by the way. And the same is true where discounts in southwestern suburbs Sefton and Macquarie Fields were averaging 8.3 to 8.7 percent. And there's a similar trend in Marys Hill in the Parramatta area where a large supply of units has helped push down apartment prices with average discounts around 8.6 percent. But, it's worth taking vendor discounting with a truckload of salt!
