AUSSIE HOMES ‘FLY OFF’ THE MARKET AS WINTER INVITES STIFF COMPETITION

Australian homes are selling faster than ever as the property market enters what is expected to be an unseasonably active winter season, according to new analysis from realestate.com.au. 

The latest REA Insights Housing Market Indicators Report shows the typical property listed on realestate.com.au in May had been on the site for just 32 days, compared to 37 days in April and 62 days in May 2020.

In releasing the report on Wednesday, realestate.com.au economist Anne Flaherty said the 32-day national average was a historic low, highlighting strong selling conditions across Australia currently.

“We’re seeing properties fly off the site faster than we’ve ever seen,” Ms Flaherty said.

“That average takes into account every area across the states [and territories]. If we think about regional areas, they tend to sell properties much slower there, so the fact that on average we’ve come down to 32 days, that’s quite remarkable.”

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