Length Of Home Ownership Continues To Rise

Across the individual capital cities, the average hold period of both houses and units has risen over the last 10 years, 5 years and year, with houses on average being held longer relative to units across all capital cities.

The data suggest that home owners are much more reluctant to sell their property than they were a decade ago which is also highlighted by the ongoing decline in sales transactions. Other factors such as the rising cost of selling and purchasing property, combined with affordability constraints across some Australia’s more expensive capital cities contribute to owners holding onto their properties longer. It’s expected that this trend will continue over the coming years given such concerns aren’t likely to see much improvement in the near future.

Click here to see the full article from Corelogic

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