How long does it take to sell in the suburb you're interested in?
Despite all the dire messages in the media, home prices are climbing up all across the country, and guess what?
People are still super keen on buying.
And here's the kicker - according to realestate.com.au houses are getting sold way faster than before COVID hit.
Now, get this - on average, it took about 44 days for a house to get sold over the past year, which is actually a bit slower compared to the year before that when it took only 35 days.
But, here's the twist - back in 2019, it used to take a whopping 64 days.
So, we're kinda getting back to the normal groove.
And you might think that the recent spike in interest rates would slow things down, right?
PropTrack did some number crunching and found out that in places like Adelaide and Perth, houses and apartments are flying off the market even faster than last year.
Oh, and in Brisbane? Units are just being gobbled up left and right.
By the way, if you're curious to know how fast homes are selling in your area, there’s this cool interactive tool you can check out.
Go on, give it a whirl!
Cities where homes are selling the fastest
You won't believe which city is breaking records in selling homes like hotcakes!
According to PropTrack, houses and units in Hobart are just flying off the market faster than any other capital city in Australia.
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They got this info by checking out how long properties chill on realestate.com.au before they’re snapped up.
Now, let’s talk numbers - houses in Hobart took a median of 29 days to sell over the past year, up to April.
But that’s actually 19 days slower than the year before.
Units are not far behind, taking about 31 days to sell, which is 23 days more than last year.
Still pretty fast, though!
Now, who’s next in the race?
Houses there were finding new owners in just 36 days.
That's a tad slower than before, 11 days more to be exact.
Brisbane is not too shabby either, with houses taking 39 days to sell, but that's 16 days longer compared to the previous year.
Oh, and Sydney - houses there needed an extra 16 days to find a new owner in April, compared to the same time in 2022, with a median of 42 days.
In Adelaide and Perth houses were like, "We ain't got time for this!"
In Adelaide, houses sold in 43 days, which is 2 days faster than last year.
Perth was hot on its heels with houses taking 45 days to sell, trimming a cool 4 days off compared to the year before.
So, there you have it!
The housing race is on!