Sunny days of quick sales long behind in most capitals as property stock lingers on the market: APM

Sunny days of quick sales long behind in most capitals as property stock lingers on the market: APM
Jonathan ChancellorMay 7, 2012

Property is taking longer to sell in all capitals than it was a year ago, data released by Australian Property Monitors, although Canberra is showing signs of speedier sales over the past few months.

During April this year Melbourne, Brisbane and Perth stock lingered on the market for the longest amount of time since April 2011.

As 2012 came out of its summer holiday slumber, Sydney's slowest-selling months were January and February, when it took an average of 95 days to sell property. But by April it still took an average of 94 days to secure a sale in Sydney.

According to APM, Darwin has the slowest market, with properties typically taking 153 days before finding a buyer.

 

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Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.