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The Aussie cities where properties are selling the fastest

Lucy Dean
Image: Getty
Image: Getty

Properties in Sydney and Melbourne are considered the Holy Grail to some, but houses in these two Aussie cities are selling considerably faster.

Aussies selling a house in Canberra fare the best, generally taking only a speedy 27 days to find a buyer.

Hobart homeowners are close behind, only needing 29 days to sell.

However, it takes around 38 days for a Sydney house to sell, with Melbourne only slightly faster at 34 days, the latest data from property research group CoreLogic reports.

Sellers in Darwin and Perth are on the other end of the spectrum, with the median house taking 74 and 72 days respectively to sell.

How fast are houses selling?
Source: CoreLogic
Source: CoreLogic
How fast are units selling?
Source: CoreLogic
Source: CoreLogic

When it comes to units, those numbers are drawn out even further.

Hobart unit owners only need 29 days to sell up, closely followed by Melbourne at 32 days.
Unlike selling houses, Canberra unit sales take a little longer at 41 days – which is also on par with Sydney sale lead times.

Meanwhile at the complete opposite end of the spectrum, Darwin units are taking a massive median 101 days to sell, meaning they are the most likely homeowners to discount their units for sale – the average unit seller in Darwin discounts their original listing price by a massive 14.7 per cent.

Softening market

Currently, less than half of Aussie homes are selling at auction, with only 46.9 per cent clearing auction.

That’s significantly lower than the national average of 65.5 per cent this time last year and comes as the Australian housing market softens.

Apartment prices are tipped to fall 8 per cent by the end of 2019 as buyer interest diminishes and supply increases, while the latest ABS housing figures reveal new lending has fallen to its lowest levels since August 2014.

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