Vendors discount to clear property

Sellers are increasingly lowering their prices to sell houses, data from Australian Property Monitors shows. APM said the average discount to the advertised price and the recorded sale price widened to 7.3 per cent in March 2005, up from 6.9 per cent in February. House prices were heavily discounted in Brisbane and the Gold Coast, by more then eight per cent. In Sydney, vendors reduced advertised prices by 7.5 per cent to ensure a sale.

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