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Quicker sales mean better prices

The quicker a property is sold the higher the price it will get, says RP Data.

Australian property owners can get higher prices if they sell quickly, according to an RP Data researcher.

Cameron Kusher said one of the questions that puzzles property vendors most is whether to take offers presented to them or hold out for a higher price.

Yet he advised people take a good offer presented early on because spending long periods on the market usually results in cheaper sales.

He said: "Holding out for a better price tends to ultimately result in a greater level of discounting."

To ensure property owners and real estate agents get the sales they want, Mr Kusher said they should ensure the residence is priced accurately in the first instance.

Nevertheless, with the current high demand in the housing market, property prices might be higher than they were 12 months ago.

Figures from RP Data show prices have been rising gradually across most of Australia's capital cities. This is spurred largely by the decision from the Reserve Bank of Australia to cut interest rates, meaning that people's financial commitments are lower and housing is more affordable.

Posted by Steve Douglas


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