Showing posts with label discounting. Show all posts
Showing posts with label discounting. Show all posts

Friday, December 16, 2016

Big Discounts to Lure Chinese

On page 3 of the Australian Financial Review on 15 December 2016 is a story titled "Big discounts to lure Chinese unit buyers."  It says that property developers are discretely offering discounts on new apartments in Brisbane and elsewhere to Chinese buyers, in a sign that lending restrictions and oversupply are beginning to affect prices.

Price discounts of up to 7% are being offered on Chinese property website fang.com.

An example is given of discounts on apartments in the Brisbane One complex near South Bank.  For a two bedroom apartment of 86 sqm, there is a $40,000 discount, so that the price is now $675,000.  To me, that discounted price seems to be over-priced!

"The market has slowed down a lot over the past six months and recently the only deals that are moving are those with big incentives."

A real estate agent reported that a number of his clients in Shanghai had been unable to obtain finance and therefore could not settle, and so lost their deposit.

Saturday, April 20, 2013

Time on Market in Brisbane

Brisbane still has a very high "time on market" for apartments.  On average, 80 days to sell from first listing.  This is about double what it should be, and shows that the market is still stuggling.  Chart from RP Data.


Saturday, December 8, 2012

Viridian Noosa Massive Discounting

The Viridian Noosa "resort" is discounting the unsold apartments.  The website states that one bedrooms that were $656,000 are now $280,000.  I doubt that this is correct -- most of the one bedrooms were originally sold for less than $600,000, so the discount is probably not as large as stated. Also, it will be interesting to see if they are selling the better apartments at this price, or only the apartments that look at the carpark.  The complex is managed by Outrigger, and is a long walk up the hill from Hastings Street.


Friday, December 7, 2012

Lead Indicators

RP Data has an interesting article about lead indicators, which are days on market and discount from original list price.

See RP Data article.


Monday, September 10, 2012

Agents to Vendors: Get Real

An article in the Weekend AFR:  Agents tell vendors to get real.

"Because prices haven't improved, only about 20% of sales are actually achieving what the vendor wants.  ... a lot of homeowners are still discounting to sell."  Click on image below to get full size story.