Housing turnover coming back from a historic low
One large factor that is often underreported when talking about the national property market slump is the percentage of turnover in the market – the percent of property on the market that sells.
Recently released data by the RBA has shown that housing turnover is a 30 year low but there is good news on the way. With the election out of the way, lower interest rates and the start of the spring selling season the numbers are starting to rebound.
Here’s some other key takeaways:
- Analysts claim one of the biggest reasons for the historic low was a low level of stock.
- Around 70% of housing turnover today is from existing property.
- Turnover from newly built housing is rapidly falling.
If you’re looking to take advantage of buying conditions before the market might heat up again, I can help make sure you’re setup with the right loan.
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