How quickly are homes selling?
Our hot housing markets are surging with waves of buyers and sellers nationally and properties were selling about two weeks faster than a year ago and even quicker when compared to before the coronavirus pandemic.
Increased confidence now that lockdown restrictions have been eased, pent-up demand, a desire to complete deals before Christmas and a rush to get in before APRA makes borrowing too difficult means houses are selling like hot cakes.
According to realestate.com.au buyer FOMO and lack of options driving speedy sales in many suburbs.
They have provided the following interactive guide to find out how quickly houses or units have been selling in your suburb.
Realestate.com.au economist Angus Moore said.
“We haven’t seen a lot of new listings in the past few months, in part because of lockdowns, so the total volume of listings available for buyers is quite low,” Mr Moore said.
Buyers are having to make pretty quick decisions when they find something they like.”
Mr Moore said nationally, properties were selling about two weeks faster than a year ago and even quicker when compared to before the coronavirus pandemic.
The median time a property spent on the market nationally was 45 days in September.
“We’ve seen days on market fall across 2021 and properties are selling at the fastest rate in three years, and are selling nearly three weeks faster than pre-COVID,” Mr Moore said.
Across all major cities in Australia we’re seeing properties sell at or near the fastest rate they have in three years.
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