I recently had the pleasure of selling a home for a family on behalf of their father who had moved into aged care. The home was full of memories as it had been their parents first and only home for over 50 years. It made me wonder how many homes most people will own in a life time?
RP Data recently published some ownership statistics.
Surprisingly over the past 12 months only 4.8% of all houses nationally actually sold. This highlights what a small proportion of homes actually sell each year compared to all the homes that are owned. It would also equate to the average time to own a home in Australia is 20.8 years.
Tasmania saw the highest proportion of homes turning over with 5.6% of all houses in the state selling. Conversely, ACT saw the lowest proportion of turnover with just 3.9% of all houses selling over the past year. Which is ironic given that our Prime Minister seems to change homes every 2.5 years!
Ever wondered what your home is worth?
It is always good to keep your finger on the pulse, we might have a buyer that is just right for your home. If you would like one of our team to contact you to arrange an up to date market opinion of the value of your property please contact us.