Where Properties Sell Fastest
The time it takes to sell a house has risen slightly but new data shows properties are still selling incredibly fast in some locations.
Cotality data shows the average days on market hit 30 days, in the three months to September – up from 27 days at the same time last year.
The fastest capital city to get a deal over the line is Perth with an average of just 12 days on market, while Brisbane is next with 21 days on market.
The recent strength in the Darwin market has driven down selling times from 51 days to 39 days and Melbourne has also fallen from 35 to 32 days.
Despite the strength of the Darwin market, Regional Northern Territory has the longest days on market of 89 days from listing to achieving a sale.
In capital city markets, Canberra has the longest days on market of 44 days.
At the same time, vendor discounting, the amount a seller must reduce their original asking price to secure a sale, is slightly lower than a year ago, with the national rate at 3.2% compared to 3.3% in September last year.
