Vendors continue to show confidence through increased asking prices and decreased discounting, new research has revealed.
SQM Research shows that during the March quarter vendors lifted asking prices on homes by 1.3 per cent on average across the capital cities.
RP Data also reported earlier this week that vendor discounting had decreased in the same period.
SQM Research director Louis Christopher said that while the quarter showed overall strength, the month of March weakened slightly.
“Overall, the market was confident for the quarter however, I note that there was a little more caution in the month of March," he said.
“Melbourne is still recording some weakness and that goes with Canberra as well, which is most likely been affected by cuts in the federal Budget. Sydney and Darwin are leading the charge.
“However, if it were not for the strong results in Sydney, it is most likely the national average would be recording market weakness for the quarter.”
Vendors have also been recorded to have increased asking prices for units across most capital cities, with large rises of 3.4 per cent in Sydney, 2.3 per cent in Perth and 4.8 per cent in Hobart.