๐ช๐ต๐ ๐๐ผ๐บ๐ฒ ๐๐ผ๐บ๐ฒ ๐ข๐๐ป๐ฒ๐ฟ๐ ๐ฎ๐ฟ๐ฒ ๐ฆ๐ฒ๐น๐น๐ถ๐ป๐ด ๐ค๐๐ถ๐ฐ๐ธ๐น๐
CoreLogic has detected a significant increase in the number of people selling their home after holding it for only a short period of time.
During the August quarter, 16.0% of properties listed for sale had been owned for less than three years. That is the highest since 2008 (when CoreLogic started tracking this statistic) and double the long-term average of 7.9%.
CoreLogic's head of residential research, Eliza Owen, said there appeared to be three factors driving the increase in short-term sell-offs:
1. The rise in interest rates โ people selling because they can't make their mortgage repayments.
2. The recent rebound in property prices โ people selling to cash in on capital gains.
3. The reversal of pandemic migration trends โ people selling a regional home and returning to the city.
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.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
