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Property News

Aussie home owners staying put

October 01, 2011

 

Aussies are staying put in their homes for longer, according to research by RP Data. The latest reports shows the average time which properties are owned has jumped from 6.8 years a decade ago, to 8.6 years now.


Meanwhile, the average unit is being held for 7.5 years, up from 6.1 years a decade ago.


Home owners in Sydney and Melbourne tend to be holding on to their homes the longest, with higher prices and transaction costs believed to be deterring many from moving more often.


Lower prices in Darwin, Adelaide and Hobart are believed to be behind owners in these states moving more frequently.

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