New research from RPData shows that the average holding period for Australian property continues its upwards trend:
Cameron Kusher’s findings show that data to December 2012 identified that the average length of ownership for houses and units (based on
properties sold over the year) was 9.3 years, and 8.2 years respectively. Ten years ago, the average hold period for a house was 6.8 years, and
for a unit it was 5.9 years.
With the longest hold periods recorded in Melbourne, houses in the city were held for 10.8 years, while the hold period for units is now 9.2 years. Sydney followed with houses held for 10.1 years, and units for 8.2 years.
Makes sense as flipping declines along with the slow melt of the boom. Full report below.