Days on market rising

Buyers are gaining more and more market power, with properties taking progressively longer to sell, according to CoreLogic.

Between the October quarters of 2021 and 2022, the median time it took for a property to sell increased from 22 days to 36 days.

That included an increase from 21 to 33 days in the capital cities and 24 to 42 days in the regions.

That’s great news for buyers, because it means they have more time to conduct due diligence and face less competitive pressure from other buyers.