Ensure you never miss an issue of the
real estate business bulletin
Aussies hold on to homes

Aussies hold on to homes

by Reporter 0 comments

Staff Reporter

Australian property owners are holding on to their homes for longer, new research has found.

According to the latest statistics from RP Data, Melbourne is leading the way for the other capital cities, with the average home owner holding on to their property for 4.3 years.

On a national scale, data for the year to August 2010 showed that houses sold over this period were owned on average for 8.3 years, while units were owned for 7.2 years. Ten years prior, houses on average, were owned for 6.8 years and units for 6.2 years.

RP Data's research analyst Cameron Kusher said the average hold period for houses has increased by 1.7 years during the past five years and by 1.4 years for units.

During the five years to August 2010, house value growth for some of the nation's capital cities has been slower than previous years, which, as Mr Kusher explains, is probably why property owners are holding onto their properties for longer as they await capital growth and a potential boost to equity.

"But with properties transacting less frequently it may result in greater difficulty in obtaining listings for agents, particularly in established areas which are unlikely to see a substantial introduction of new supply," he said.


le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Aussies hold on to homes
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?