Aussie sellers warned: Cut prices or your home won’t sell

Aussie homeowners looking to sell this spring are facing a brutal new reality. Pictured: Herron Todd White CEO Peter Maloney Aussie homeowners looking to sell this spring are facing a brutal new reality, with vendors being warned many properties “simply will not sell” unless price expectations come down. After five years of frenzied competition, rapid price growth and chronic stock shortages, buyers who once had to fight for a listing are now taking their time, making more conditional offers and refusing to chase sellers on price. Buyers who once had to fight for a listing are now taking their time. Picture source: realestate.com.au Herron Todd White CEO Peter Maloney said vendors still anchored to 2025 price expectations could be in for a rude shock this spring selling season. “The discounting figure is the one I would watch between now and Christmas,” Mr Maloney said. “Four per cent is the largest concession vendors have made since May 2023, and it is telling you exactly what is required to secure a buyer this spring. “Many properties simply will not sell, and for most of the rest the only path to a contract is a price cut.” Sydney’s multibillion-dollar property market has ground...