{"id":42797,"date":"2023-04-11T08:51:09","date_gmt":"2023-04-10T20:51:09","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=42797"},"modified":"2023-04-11T08:51:09","modified_gmt":"2023-04-10T20:51:09","slug":"the-sydney-suburbs-where-home-owners-never-want-to-leave","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/the-sydney-suburbs-where-home-owners-never-want-to-leave\/","title":{"rendered":"The Sydney suburbs where home owners never want to leave"},"content":{"rendered":"

PHOTO: Sydney, Australia. FILE<\/strong><\/p>\n

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Sydney<\/a> home owners are holding on to their homes longer than ever as the pricey property market makes it tough to move.<\/p>\n

\"Karl<\/a><\/div>\n
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Stefanovic\u2019s Sydney home demolished for luxury upgrade<\/a><\/h2>\n<\/header>\n<\/div>\n

The increasing cost of stamp duty, unaffordable housing, the limited number of homes for sale and the desire for space to accommodate adult children and grandchildren have all driven home owners to hold on to their properties longer, in some cases for twice as long as two decades ago.<\/p>\n

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\"Stamp<\/picture><\/div>
Stamp duty costs are one of the major reasons driving homeowners to hold onto their properties for twice as long since 2002.<\/span>CREDIT:<\/span>PETER RAE<\/cite><\/strong><\/em><\/p>\n<\/figcaption><\/figure>\n

The median hold period for houses across greater Sydney has jumped from 5.3 years in December 2002 to 10 years in December 2022, CoreLogic data revealed.<\/p>\n

For units, the median hold period increased from 4.3 years December 2002 to 8.3 years in December 2022.<\/p>\n

\"David<\/a><\/div>\n
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David Bowie\u2019s \u2018bizarre\u2019 Sydney home sold<\/a><\/h2>\n<\/header>\n<\/div>\n<\/div>\n
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The biggest increase in hold periods was for houses in the inner west, increasing from 5.4 years to 11.7 years.<\/p>\n

The longest hold periods for houses were in Sutherland, at 12.3 years.<\/p>\n

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