Shrewd property buyers have bagged homes for discounts of more than $1 million by targeting properties in a belt of suburbs stretching from Bankstown through Canterbury to Holroyd.
Buyers in these regions negotiated average discounts of between 10 and 20 per cent off the advertised price of houses over the past year, defying skyrocketing house prices and a pressure cooker auction market in the rest of the city, according to The Daily Telegraph.
Other pockets such as Mortdale and Kenthurst saw buyers nab homes for an average of 9 to 12 per cent less than they were listed for, Core Logic figures showed.
Some walked away with far larger wins. The buyer of a 2ha property on Marieba Rd in Kenthurst paid $675,000 less than the listed price, while the new owner of a nearby home on Porters Rd paid $665,000 below its first advertised price.