๐ข New on Spachus Pro
Introducing our Listing-to-Sold Heatmaps ๐ฅ
See which areas have been hit hardest by listing-to-sold price declines over the past 12 months. Spot shifting market conditions, compare suburbs, and uncover where values are weakening.
Properties are taking longer to sell across #Australia, with every major city recording an increase in median days on market compared to last month.
1. Adelaide โ 20 days (+2)
2. Hobart โ 21 days (+3)
3. Townsville โ 28 days (+9)
4. Newcastle โ 28 days (+6)
5. Brisbane โ 29 days (+1)
6. Melbourne โ 30 days (+6)
7. Sydney โ 30 days (+4)
8. Canberra โ 30 days (+7)
9. Wollongong โ 31 days (+11)
10. Geelong โ 34 days (+14)
11. Sunshine Coast โ 35 days (+9)
12. Perth โ 36 days (+15)
13. Gold Coast โ 38 days (+16)
14. Cairns โ 41 days (+26)
15. Central Coast โ 44 days (+23)
16. Darwin โ 49 days (+28)
It's amazing how a few percent decline can send the property market and mainstream media into a frenzy.
Some areas have doubled in value over the past five years, yet now we're hearing calls for an early election because prices have softened slightly.
When prices were surging, it was hailed as a booming market. When they dip a few percent, it's suddenly a crisis.
#auspol
@IFM_Economist People will always need to sell. Whether it's sickness, job loss, divorce, inflation or cost-of-living pressures, life events continue regardless of market conditions.