Invest
Desirable suburbs now in the discount firing line
Property listing prices across NSW and Victoria are trending downwards, with new research showing more and more discounts are on offer across a number of popular suburbs.

Desirable suburbs now in the discount firing line
Property listing prices across NSW and Victoria are trending downwards, with new research showing more and more discounts are on offer across a number of popular suburbs.

A crunching of numbers by Domain has shown that almost 15 per cent of Sydney property listings were discounted during July – approximately three times higher than discounting rates during 2019.
According to the analysis, the city’s Northern Beaches, Canterbury Bankstown (17 per cent) and Lower North Shore (16.4 per cent) areas are seeing buyers benefit most from the bargains, recording the highest levels of discounting.
In Melbourne, 11.5 per cent of properties for sale are being offered at a discount.
It’s almost four times the rate of discounting displayed through 2019, with Domain flagging Inner Melbourne, Outer East Melbourne and Inner South as the areas using the strategy to tempt buyers the most.
Inner East Melbourne has seen the most sizeable change, with 12 per cent of properties currently on offer at a discount to the original asking price.
Adelaide is not far behind, exhibiting a 10.1 per cent discounting rate over July – and over three times the rate of 2019.
But despite the abundance of price drops, the level of discounting is “roughly on par or lower than last year”, according to Domain.
“All cities have proportionately more properties discounted compared with last year. However, the degree of discount is smaller across all cities, apart from median price discount remaining the same in Perth,” the property platform noted, suggesting a broader market slowdown with more properties discounted by marginal amounts rather than hefty discounts on fewer homes.
About the author

About the author


Property
10 markets reversing the property trend
Despite strong national growth grabbing headlines, not all suburbs are currently booming, with the pandemic continuing to drag down markets, an industry expert has revealed. ...Read more

Property
More than 1 in 3 home owners want to sell their property as seller confidence rebounds
More than one in three home owners are planning to sell their house over the next five years as Aussies increasingly look to purchase a new home to better meet their future needs, new research has ...Read more

Property
How big is the gender gap in housing?
It would take women an additional 10 months to save for a 20 per cent deposit on the median Australian dwelling value as at January 2021. ...Read more

Property
House price surge to cause ‘social and political problems’: ANZ
Rising house prices spurred on by low interest rates are “raising eyebrows” and could create “real social and political problems”, ANZ’s CEO has warned. ...Read more

Property
How important is a buyer’s agent in a rising market?
In a hotly contested seller’s market, investors are being alerted to the importance of a good buyer’s agent. ...Read more

Property
First home buyers guide: Grants and assistance in each state and territory
The federal and local governments have launched several grants and assistance programs to help their citizens achieve the great Australian dream of owning a home. ...Read more

Property
Transition period announced ahead of tenancy moratorium end
With the end of the moratorium on evictions in sight, the NSW government has announced a new measure aimed to assist the residential tenancy market transition back to pre-COVID conditions. ...Read more

Property
First home buyers brace for strengthening headwinds
While Australian first home buyers dominated the market in 2020, increasing their market share by 50.4 per cent in the past year, they're likely to face strengthening headwinds as prices soar. ...Read more

Property
10 markets reversing the property trend
Despite strong national growth grabbing headlines, not all suburbs are currently booming, with the pandemic continuing to drag down markets, an industry expert has revealed. ...Read more

Property
More than 1 in 3 home owners want to sell their property as seller confidence rebounds
More than one in three home owners are planning to sell their house over the next five years as Aussies increasingly look to purchase a new home to better meet their future needs, new research has ...Read more

Property
How big is the gender gap in housing?
It would take women an additional 10 months to save for a 20 per cent deposit on the median Australian dwelling value as at January 2021. ...Read more

Property
House price surge to cause ‘social and political problems’: ANZ
Rising house prices spurred on by low interest rates are “raising eyebrows” and could create “real social and political problems”, ANZ’s CEO has warned. ...Read more

Property
How important is a buyer’s agent in a rising market?
In a hotly contested seller’s market, investors are being alerted to the importance of a good buyer’s agent. ...Read more

Property
First home buyers guide: Grants and assistance in each state and territory
The federal and local governments have launched several grants and assistance programs to help their citizens achieve the great Australian dream of owning a home. ...Read more

Property
Transition period announced ahead of tenancy moratorium end
With the end of the moratorium on evictions in sight, the NSW government has announced a new measure aimed to assist the residential tenancy market transition back to pre-COVID conditions. ...Read more

Property
First home buyers brace for strengthening headwinds
While Australian first home buyers dominated the market in 2020, increasing their market share by 50.4 per cent in the past year, they're likely to face strengthening headwinds as prices soar. ...Read more