How much time do you have left to purchase a newly listed property?
The average number of days properties are listed for sale on realestate.com.au reached record lows in every state in March. This is likely due to demand being extremely strong, with ‘views per listing’ being at record highs levels.
So Just How Long Are Properties Listed For?
The average number of days properties were listed on the realestate.com.au website was 48 in March 2021.
Properties sold the fastest in the ACT (average of 25 days listed), New South Wales (27 days) and Victoria (30 days).
Tasmania (37 days), South Australia (48 days) and Queensland (54 days) were positioned in the middle of the pack, however, they dropped 9, 17 and 19 days respectively over the course of the month.
And while properties in Western Australia (71 days) and the Northern Territory (59 days) took the longest time to sell on average, they recorded the largest falls in average time online over the past year, down 28 and 14 days respectively.
Increase in Views Per Listing and Property Price Searches
Properties are currently viewed an average of 1694 times on realestate.com.au – up from 819 in March 2020. This growth can be attributed to several factors, including record-low borrowing costs, government support packages for first-home buyers and limited available stock.
Buyers are also on the hunt for more expensive properties than they were a year ago. Whereby, the percentage of searches for properties valued between $750,000 and $2,000,000 has increased to 52% in 2021, up from 47% in 2020.
How KBRZ Can Help
Thinking about buying your very own property in 2021?
If this is the case, a good first step is to speak to our team at KBRZ to assess your options. If you are currently interested in purchasing a property, or if you have any further questions, please feel free to contact us today. With our extensive network and years of experience in the industry, our team at KBRZ can provide tailored investment loan solutions that will allow you to maximise your wealth regardless of your circumstances.