By Leith van Onselen
From Australian Property Monitors (APM) via Property Observor comes the below table showing the average number of days taken to sell a home in each capital city.
Amazingly, in four of the six capital cities, it took on average of more than 100 days to sell a home as at January 2012. All cities experienced significant increases in the time taken to sell a home in January 2012 compared with the previous corresponding period, with four cities also hitting fresh annual highs.
With so much stale stock on the market, it’s hard to see how the house price recovery reported by RP Data in February can be sustained.
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