Sellers are lowering prices on high rise inner-city apartments by up to 10 per cent, advisers are being offered $10,000 commissions to recommend apartment sales, builders are adding ‘free’ luxury fixtures and lenders are including new incentives – on top of record low rates – in a bid to revive flagging residential property markets, analysis of market offers reveals.
Some off-the-plan apartments are being revalued by lenders before final settlement by up to 15 per cent lower than their original purchase price, causing credit problems for buyers before they finalise their deals, according to mortgage brokers.
