Is it a good time to sell your house now? Home owners might not want to hear it, but new analysis shows the moment when interest from buyers was at its height - and how far it’s fallen.
Sydney and Hobart saw the earliest peak in demand, reaching a high in early 2021.Advertisement
Demand for Melbourne units peaked that same month, while demand for houses peaked in October, as did the demand for Brisbane houses and units. Domain chief of research and economics Dr Nicola Powell said the market had been cooling since last year, when demand peaked in October across the combined capital cities. Demand in regional Australia peaked in the same month for houses, and in January 2021 for units.
She added Sydney’s earlier peak reflected the city’s greater affordability challenges, and said the harbour city was further along the price cycle. “For sellers, it’s a timely reminder that the market has moved and pricing your property right is important, if they want to secure a quick sale.” Buyer’s advocate Rich Harvey, chief executive of propertybuyer.com.au, said already cooling demand quickly dissipated as the cash rate climbed.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Take me home, Country Road: When your fashion first love wants back inWith the return of its chambray shirt from 1984, Country Road is rekindling its passion for Australian-made products.
Read more »
Police speak to man after partner found dead on bed in bayside homeThe woman had called police to the house a month ago. That interaction is now being reviewed.
Read more »
Home ownership in sight as rental rejections start to bite in the PilbaraAfter years of struggle, aspiring Aboriginal homeowners in Karratha finally feel like their housing dreams are in reach, thanks to a new program.
Read more »
Melbourne home sellers offer biggest discounts since the second lockdownThe level of discounting equates to a $62,000 reduction for the city’s typical house, but one type of home is more likely to sell for a song than the others.
Read more »
‘We can fit education into our lives’: More kids learning at homeGreater student confidence with online learning, teacher shortages and an increase in mental health issues among children have led to a continued rise in studying at home. madeleineheff
Read more »
Pepper Money says rate rises hitting home loansNon-bank lender Pepper Money reports an increase in profit, but margin contraction on higher funding costs.
Read more »