Darwin and regional discounting on the rise
VENDOR discounting is on the rise in the Territory, according to a recent property report.
CoreLogic’s Property Pulse found the median vendor discount rate in Darwin had increased to 8.2 per cent in July from 7.7 per cent in July 2018.
The last time discounting percentages were this high was in Darwin was in 2017.
Regional NT’s level of discounting remained low but had a small increase over the past year.
The median vendor discount rate increased to 3.9 per cent from 2.9 per cent in July 2018.
The report stated the low volume of sales in regional NT made the level of discounting volatile.
The national median vendor discount rate was recorded at 5.9 per cent. CoreLogic revealed the last time figures were in this range was in August 2011.