Despite reports that the property market has been booming in recent months with prices on the up, new figures from recent months indicate otherwise. According to new data released by realAs, some vendors have slashed their asking prices by up to 40 per cent. Nationwide prices were down by an average of 2.7 per cent from December to February. 'There are various reasons for vendors reducing theirs asking prices, the primary one is that buyers are not willing to pay the price the vendor is asking,' Josh Rowe, CEO of realAs told Daily Mail Australia. Scroll down for video . Despite reports that the property market has been booming in recent months with prices on the up, new figures from recent months indicate otherwise . The survey of nearly 3000 homes up for sale across Australia also revealed that Tasmania had the largest mark downs on house prices, at 4.6 per cent on average. WA prices were down 3.2 per cent, NSW saw a 3.1 per cent drop, while SA prices dropped 3 per cent. Queensland prices slid 2.7 per cent, 1.9 per cent in Victoria, 0.3 in the NT and 0.1 in the ACT. However one property in Montrose, 10 kilometres north of Hobart, dropped its price by 40 per cent from $279,000 to $200,000. Located at 62 Montrose Road the two bedroom home has a sprawling garden, five car spots, and a near-new kitchen. The survey of nearly 3000 homes up for sale across Australia also revealed that Tasmania had the largest mark downs on house prices, at 4.6 per cent on average. However one property in Montrose, 10 kilometres north of Hobart, dropped its price by 40 per cent from $279,000 to $200,000 . Located at 62 Montrose Road the two bedroom home has a sprawling garden, five car spots, and a near-new kitchen . The cosy property has a very 70s feel to it, with it's red brick exterior and interior furnishings, but could easily be updated by changing the decor. Mr Rowe pointed to a number of other properties across the country which had also knocked a substantial amount off their asking price, and said there are a number of underlying reasons for why this had happened. '(One reason is) vendors having committed themselves to another purchase & needing to sell to cover their new debt/commitment.' Mr Rowe also said that agents having a higher expectation of what markets are willing to pay, and changes of employment conditions within a region can also contribute to the change in the market. In East Perth, West Australia a house which was listed for $1,160,000 had it's selling price dropped 37 per cent to $848,000 - a huge $312,000 slide . The stunning top-floor penthouse apartment at 41/17 Wickham St has stone kitchen benchtops, features Versace Home tiling and boasts two bedrooms and two bathrooms . The listing page also revealed it is: 'Located close to the CBD, it is also just a short walk to waterside cafes and restaurants in Claisebrook Cove' 'Real estate agents will not trumpet that prices have been reduced. Agents live and die by the game of positive confidence in the property market,' he added. In East Perth, West Australia a house which was listed for $1,160,000 had it's selling price dropped 37 per cent to $848,000 - a huge $312,000 slide. The stunning top-floor penthouse apartment at 41/17 Wickham St has stone kitchen benchtops, features Versace Home tiling and boasts two bedrooms and two bathrooms. The listing page also revealed it is: 'Located close to the CBD, it is also just a short walk to waterside cafes and restaurants in Claisebrook Cove, and is also near to Central TAFE, Gloucester Park, and the beautiful Swan River'. In NSW, the owners of Berry Mountain Farm dropped the asking price of their property by $1 million to $3 million - a 33 per cent drop . Located at 109 Ben Dooley Rd, selling agent Mira Edwards of McGrath Berry Estate Agents said there was much more interest in the property when they dropped the asking price . The property is expected to sell for a figure in the high three millions . The sprawling rural home has spacious grounds and stunning views . In NSW, the owners of Berry Mountain Farm dropped the asking price of their property by $1 million to $3 million - a 33 per cent drop. Located at 109 Ben Dooley Rd, selling agent Mira Edwards of McGrath Berry Estate Agents said there was much more interest in the property when they dropped the asking price. 'We expect to sell the property in the high $3 millions," Ms Edwards told the Australian Financial Review. A three bedroom home in Bentleigh East in Victoria was also marked down by 30 percent, and remains on the market for $590,000 as opposed to its original $765,000 price . The two-storey home which sits down the end of a quiet cul-de-sac and features contemporary styling.\ . 'An inspired easy-care lifestyle is introduced by timber floors flowing through a generous living room to a well-equipped galley kitchen with stone benches and adjoining meals area,' the listings page reads . A three bedroom home in Bentleigh East in Victoria was also marked down by 30 percent, and remains on the market for $590,000 as opposed to its original $765,000 price. The two-storey home which sits down the end of a quiet cul-de-sac  and features contemporary styling. 'An inspired easy-care lifestyle is introduced by timber floors flowing through a generous living room to a well-equipped galley kitchen with stone benches and adjoining meals area,' the listings page reads. In South Australia a property at 64 Alexandra Ave Rose Park dropped its prices from $2,200,000 to $1,850,000, a 19 percent decrease. The sprawling home has eight main rooms, five bedrooms, two bathrooms and a large lounge area with a fireplace. It is placed in a central location, and retains its original Victorian features whilst presenting as a contemporary Villa . In South Australia a property at 64 Alexandra Ave Rose Park dropped its prices from $2,200,000 to $1,850,000, a 19 percent decrease. The sprawling home has eight main rooms, five bedrooms, two bathrooms and a large lounge area with a fireplace. It is placed in a central location, and retains its original Victorian features whilst presenting as a contemporary Villa. This Queensland property was originally listed at a price 15 per cent higher than what it is currently on the market for . The four-bedroom home was initially listed as $550,000 and is located at 8 Achievement Drive Ormeau, . The price of the two-bathroom home is now listed for between $447,000 to $467,000 . Ormeau is a suburb located south of Brisbane and the house also has two parking spaces . A Queensland property located at 8 Achievement Drive Ormeau, was originally listed at a price 15 per cent higher than what it is currently on the market for. The price on the four-bedroom, two-bathroom property was originally $550,000 but has dropped to $477,000.
Property prices nationwide down 2.7 percent from December to February . Some vendors slashed their asking prices by up to 40 per cent, data shows . Survey of nearly 3000 homes  revealed Tasmania had largest mark downs . WA prices were down 3.2 per cent, NSW saw a 3.1 per cent drop . QLD prices slid 2.7 per cent, 1.9 per cent in Victoria, 0.3 in the NT .