Real Estate Concept Mortgage Concept Excited Man Showing Dollars Paper Maket House Min

๐—ช๐—ต๐˜† ๐˜€๐—ผ๐—บ๐—ฒ ๐—›๐—ผ๐—บ๐—ฒ ๐—ข๐˜„๐—ป๐—ฒ๐—ฟ๐˜€ ๐—ฎ๐—ฟ๐—ฒ ๐—ฆ๐—ฒ๐—น๐—น๐—ถ๐—ป๐—ด ๐—ค๐˜‚๐—ถ๐—ฐ๐—ธ๐—น๐˜†

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 donโ€™t have to fear with the right broker on your side.

The team at Sonam Capital are here to empower you through financial knowledge. Weโ€™ll 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.

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