Property Observer | 25 February 2013

Brisbane and Adelaide units spend highest time on market: RP Data

Units in Brisbane and Adelaide spend more time on the market than any other Australian capital city, according to the latest information from RP Data.

Brisbane and Adelaide units spend an average of 93 days on the market, according to data for the week ending February 24. Houses in the Queensland capital don't sell that much quicker with an average of 88 days on the market, while Adelaide houses take 85 days.

By contrast, Sydney and Canberra houses spend the least time on average on the market, at 70 days. Sydney units typically take 59 days to sell, the quickest sale type in the country.

rpdatafeb25chart

'Time on market' (TOM) is the average number of days between when a property is first listed for sale and the contract date.

The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks. The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis.

The analysis also excludes results where there are less than 10 observations.

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