Houses are selling fastest in the boom market of Sydney and taking longest to sell in the bear market of Perth, according to figures from RP Data.
Sydney’s median time on market is 26 days, with an average vendor discount of 4.1%. The other highly competitive markets are Melbourne, where houses sell in 31 days at a 4.6% discount, and Canberra, where houses sell in 34 days at a 2.2% discount.
Brisbane houses sell in 63 days at a 5.7% discount, Adelaide houses sell in 64 days at a 5.8% discount and Hobart houses sell in 65 days at a 6.2% discount.
Australia’s weakest markets are Darwin, where houses sell in 82 days at a 7.3% discount, and Perth, where houses sell in 83 days at a 6.4% discount.