Brisbane houses are taking an average of 39 days to sell, compared to 44 days for the national average, according to new PropTrack data reported by realestate.com.au.
Brissie units are taking an average of 37 days to sell, compared to 48 days for the national average.
Units in our river city are really the standout performer in this data. They’re selling four days quicker than they were a year ago. In the north Brissie suburb of Taigum, units are taking just 20 days to sell – that’s fast enough to earn it a spot in the top #10 fastest selling suburbs for units across Australia.
The stats reflects a shift in buyer preferences for more affordable options as interest rates have risen and borrowing power has dropped.
PropTrack Economist, Angus Moore told the Property Tribune that buyers are looking at cheaper options in many areas.
“A lot of the suburbs where we’re seeing kind of quick sales times, across the country, tend to be the more affordable suburbs,” said Mr Moore.
“This is consistent with the fact that interest rates have risen very quickly in the past 12 months.
“That’s obviously made affordability much tougher for many people, and so as a result we might be seeing some buyers substitute towards more affordable suburbs, where perhaps, 12 or 18 months ago they were considering, nearby but more expensive areas.”
Check out how many days properties are on the market across Australia’s capital cities.
Houses
- Hobart 29 days
- Melbourne 36 days
- Brisbane 39 days
- Sydney 42 days
- Adelaide 43 days
- Perth 45 days
- Australian Capital Territory 55 days
- Darwin 71 days
Units
- Hobart 31 days
- Brisbane 37 days
- Australian Capital Territory 41 days
- Adelaide 44 days
- Melbourne 48 days
- Sydney 51 days
- Perth 62 days
- Darwin 78 days
Get ready, set, sell: Book a valuation or talk to us about selling.