REIWA also says the large number of properties on the market was creating competition among sellers, who were dropping prices in many areas to secure a quicker sale. About 16,000 homes are on the market, the highest level since December 2008.
"The number of sellers prepared to drop their asking price has increased from 60 per cent to 67 per cent, with the average discount now being 6 per cent off the advertised price," REIWA says in its release.
The proportion of sellers discounting was higher in Perth's elite western suburbs, where 84 per cent of sellers were prepared to drop their prices.
"Remains"? Really? "Is becoming" or "increasingly is". It's as if the person who wrote the article title didn't read the article.