๐๐ฎ๐๐ ๐ผ๐ป ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐๐ฎ๐น๐น๐ถ๐ป๐ด ๐ถ๐ป ๐ ๐ฒ๐๐ฟ๐ผ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐
In a sign of very different market dynamics, property sales are speeding up in the capital cities and slowing down in the regions, according to CoreLogic.
Between the August quarters of 2022 and 2023, days on market โ which refers to the median time to sell a property โ steadily rose from 33 to 45 days in regional Australia.
The situation is different in metro Australia. Focusing this time on the six months to August 2023, days on market fell sharply, from 37 to 27 days. During that time, days on market decreased in every capital city except Hobart.
When days on market are rising (as in the regions), the market is weakening and buyers are gaining power. When days on market are falling (as in the capital cities), the market is strengthening and vendors are gaining power.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
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