Sydney and Melbourne Property Markets Cool as 1 in 10 Homes Sell at Discounted Price

A property is seen for sale in Sydney, Australia, Sept. 1, 2021. AAP Image/Dan Himbrechts

Around 10 percent of homes in Sydney and Melbourne were sold at a discounted price in February as the market slows down, according to data from Domain.

In Sydney, 10.5 percent of properties lowered their asking price before selling, a jump from 5.9 percent in July 2021.