Nationally, residential sales are outpacing new property listings, vendor discounts are falling and it’s taking less time to sell a property, shows the latest CoreLogic data. 
The median vendor discount eased across capital cities and regional areas in the three months to September, falling from 4% to 3.3% over the year. Also, it now takes an average of only 40 days to sell a property compared to 46 days a year ago, the data shows. 
“The year-on-year comparison is highly relevant as a year ago the marketplace was emerging from a two-year downturn,” says Tim Lawless, CoreLogic’s head of research. “It does show that, as we emerge from the COVID-related lockdowns, the market seems to be a little bit stronger than that.”
In the four weeks to September 27, new listings rose 9% while total listings declined, leaving the ratio of home buyers to new listings weighted towards demand rather than a supply build-up, says Lawless.
This suggests that now is the right time to buy.

Leave a Reply

Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Youtube
Consent to display content from Youtube
Vimeo
Consent to display content from Vimeo
Google Maps
Consent to display content from Google
Spotify
Consent to display content from Spotify
Sound Cloud
Consent to display content from Sound