Ensuring the price is right

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VENDORS ARE DROPPING THEIR EXPECTATIONS IN THE FACE OF BUYER CAUTION.

The current conditions inMelbourne’s property market are forcing vendors to work harder to secure a sale, as buyers take the upper hand.

With recent falls in home values, vendors are having to increasingly adjust their asking prices to be able to attract buyers and make a sale.

According to RPData, during April, Melbourne houseswere discounted by an average of 6.9 per cent from their initial list price in order to sell, while unitswere discounted by 5.7 per cent.

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