Many sellers remain in a good position amid price declines.
Many sellers remain in a good position amid price declines.
Emily Hutchinson – Property Journalist @ realestate.com.au
Despite property prices falling from their peak, data reveals it remains a positive time to sell for many homeowners who bought pre-pandemic.
The recent PropTrack Home Price Index showed that those who purchased property before the pandemic would still make a healthy return on investment if they were to sell today. The report revealed that while home prices nationally have fallen 4.51% from their peak in March 2022, prices remain 28.5% higher than pre-pandemic levels.
"For those that purchased their home pre-Covid, in most parts of the country home prices are still up a significant amount compared to three years ago, even with the recent downturn," explained senior PropTrack economist Eleanor Creagh.
Port Fairy –
Jan 2022 – Jan 2023 +2.8% increase in house value
Jan 2020 – Jan 2023 +66.1% increase in house value
51 potential buyers per listing
54 median days on market
Full Article -realestate.com.au
https://www.realestate.com.au/news/housing-report-card-many-sellers-remain-in-a-good-position-amid-price-declines/?campaignType=external&campaignChannel=edm&campaignSource=braze&campaignName=content&campaignSegment=buy&campaignPlacement=a1&campaignContent=mnl