Sellers wanting to be in a new home for Christmas have two weeks to have their house on the market.
According to the latest REIWA stats it takes, on average, 65 days to sell a home in Perth. Add a further 14 days for finance approval (and that’s being optimistic) and 21 days for settlement and we’re now up to 100 days. That’s just over 14 weeks to get a property sold and settled.
To enjoy Christmas day in the new home settlement would need to take place no later than December 17. That would give a week to settle in.
Working back from there 100 days brings us to September 1o. That’s last Friday!
The average discount rate in Perth is 5.9% but in more expensive suburbs and for urgent sales that figure is often higher. People who leave it too late may find the only way to secure a sale is through heavy price discounting. And that’s no fun for anyone.