Time on market climbs in Sydney and Melbourne

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Via the AFR:

At the end of May, the average days on market in Sydney for houses has risen to 63 days up from about 45 days at the peak of the market last year. Days on market have been hovering around the 60s since March. For units, that number is now 64 days, rising from last year’s peak of 54 days.

…It takes an average of 48 days to sell a house privately, rather than through auction, in Melbourne. That number has remained fairly stable in 2017 and 2018 so far. For units, the average days on market in Melbourne has improved to 75 days down from nearly 100 days last year.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.