HOMES SELLING FASTER IN MANY SUBURBS, ESPECIALLY IN MORE AFFORDABLE AREAS

Homes are flying off the shelves in many suburbs despite a cooling in Australia’s property market, with buyers who are chasing more affordable options among those who still have to act fast.

New PropTrack data shows properties nationally are selling faster than a year ago and are being snapped up within days in some suburbs, even though buyers have more choice and less urgency.

While sellers remain in the driver’s seat for now, PropTrack director of economic research Cameron Kusher said the pendulum is shifting. “The market at this point continues to favour sellers compared to buyers, however we are swinging back towards a more balanced market and depending on how high and how quickly interest rates rise, we could see the market move in favour of buyers,” Mr Kusher said.

How quickly have homes been selling in your suburb? Click here to use the interactive image to find out and see how it has changed.