2015 Summer Edition
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Property market
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As days on market fall in regional Victoria THERE are a number of market indicators which chart the statewide and local performance of the property sector. This includes the average length of time that homes in each town or city take to sell, known as median days on market. The latest Real Estate Institute of Victoria (REIV) data shows a number of regional towns across Victoria recorded significant falls in the median days on market over the year, reflecting the strength of the property market in these areas.
Substantial declines in days on market were recorded in the Goulburn Valley region. Homes in Yarrawonga, Echuca, Benalla, Mooroopna, Kialla, Kyabram and Nagambie all sold faster when compared with last year’s figures. The median number of days on market for homes in Yarrawonga fell 53 days over the year to 80 while homes in Mooroopna also sold faster, decreasing 43 days to 70. Homes in Kialla had a median of 68.5 days on market, 30
days less than the same period last year. While Nagambie’s median days on market dropped 34 days to 84. The number of days for a home to sell in Kyabram fell 17 days; homes in Benalla sold 16 days faster than the same time last year and Echuca’s median days on market dropped by 10.5 days to 63.5 days in July.