Days on market reduce in capital cities
The average time a property spends on the market has reduced by almost two weeks in Australia’s capital cities over the past 12 months, according to RP Data – Rismark International’s Home Value Index report for October.
According to the report, it took an average of 44 days for homes in Australia’s state capitals to sell in October, down from 56 at the same time last year.
The heightened interest in the property market has also reduced the level of discounting by sellers, from an average of 6.8% a year ago to 5.7% in October.
Meantime, the latest median prices for capital cities are: