New data from Domain reveals that the percentage of vendors who increase their asking price mid-campaign has lowered from March to April for Sydney, Melbourne, Brisbane and Canberra, which covers around 2 out of 3 property sales. This is probably occurring for a combination of reasons such as:
- Values are not increasing as rapidly as they were earlier this year
- Agents are more conscious of getting caught underquoting
- Vendor price expectations have risen since the rebound began in earnest
The locations with the highest proportion of vendors lifting their asking price is dominated by Sydney and Melbourne.
