๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ถ๐ฒ๐ ๐ฆ๐ฒ๐น๐น๐ถ๐ป๐ด ๐๐ฎ๐๐๐ฒ๐ฟ ๐ถ๐ป ๐บ๐ผ๐๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐
Property markets have turned sharply towards vendors in the past three months, judging by recent data from CoreLogic.
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Days on market โ which refers to the median time to sell a property โ tumbled between February and May, falling from 37 to 29 days in the combined capitals and 48 to 44 days in the regions.
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Days on market also fell in every capital city, except Hobart, between February and May:
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* Perth = from 27 to 18 days
* Adelaide = from 35 to 28 days
* Brisbane = from 35 to 28 days
* Melbourne = from 37 to 30 days
* Sydney = from 45 to 33 days
* Canberra = from 49 to 44 days
* Hobart = from 45 to 46 days
* Darwin = from 58 to 52 days
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Falling days on market is good news for vendors, because when properties are selling faster, buyers have to compete harder, putting upward pressure on prices.
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