Sydney vendors accept lower house prices

Vendors are asking for up to 12 per cent less for houses in Sydney, data compiled by Home Price Guide shows. The research shows vendors are more likely to have cut the selling prices of houses in the city’s southern suburbs. In the eastern suburbs vendors in the Woollahra council area have dropped asking prices by 9 per cent. Pockets of the Northern Beaches seemed to be more resilient than others. On the Central Coast prices in some areas are also down by 9 per cent.