Revealed: The Victorian suburbs where sellers take huge price cuts

Home sellers in some surprising parts of Melbourne are accepting major discounts to get deals done. Find out where. Victoria’s grim housing market is forcing home sellers to accept buyer offers six-figures below what they had hoped to achieve. Shocking REA Group market valuations earlier this week revealed Melbourne’s median house value started spring this year about $7700 (0.8 per cent) below what the typical house was worth in 2021. But in the background of the city’s 10th straight month of falling median prices are hundreds of suburbs where home sellers are having to give up vast sums to lock in a deal. RELATED: $65k blow: Melb houses worth less than 2021 Ousting Vic government ‘catalyst’ to save home prices Mornington Peninsula’s elite slash millions off luxury homes REA Group’s latest market trends data shows that eight of the nation’s 20 biggest vendor discounts for houses or units are now occurring in regional and coastal parts of Victoria. There were 39 where the average cut from house sellers worked out to be north of $100,000, headed by Portsea and Flinders on the Mornington Peninsula, followed by Toorak, Brighton and Ivanhoe East. A further 99 had median house price disc...