Where It’s Hard To Buy
While there are shortages of listings in many parts of Australia, there are suburbs where no matter where it is in the property cycle it can be hard to buy because owners just won’t leave.
According to CoreLogic figures in Sydney, Bonnyrigg Heights is the most tightly held suburb with homeowners keeping their properties for a median of 20.2 years before selling.
Longueville owners stayed put for a median of 17.7 years before selling and in Cabarita in Sydney, they held on for 17.3 years.
In Melbourne, homeowners in Vermont South, in the eastern suburbs, had the longest median hold time of 20.6 years, followed by Caulfield, 20.5 years and Keilor Downs, 19.6 years.
Brisbane homeowners on average were selling their homes after 8.7 years but owners in areas within the western suburbs often kept their properties for twice as long. Middle Park owners stayed put for a median of 19 years while close by in Mount Ommaney it was 18.9 years.
