The suburbs Australians love the most

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Australian Property Listings Surge, But Some Suburbs See Residents Staying for 20 Years

Over recent decades, Australians have increasingly held onto their properties for longer periods, leading to notable trends in the property market.

Currently, the average property hold period in Australia is 10.5 years. However, in major cities such as Melbourne and Sydney, the average tenure extends to 13 years. This trend is driven by a combination of economic, social, and demographic factors. .

Historically low interest rates have made mortgage repayments more manageable, reducing the urgency to sell. Additionally, high transaction costs, including stamp duty, real estate agent fees, and moving expenses, discourage frequent buying and selling..

While some suburbs exhibit lengthy property hold periods, others experience rapid turnover. Economic pressures and varying lifestyle preferences often result in this disparity, with unit owners in newer or less established areas opting for more frequent moves.

Demographic changes also influence this trend. An ageing population tends to stay longer in family homes due to emotional attachment and the significant effort and cost of downsizing. The rise in older Australians opting to remain in their homes has contributed to longer holding periods.

Over the long term, property prices have risen substantially, encouraging homeowners to hold onto their properties with the expectation of continued capital growth.

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Suburbs with the Longest and Shortest Hold Periods:

Melbourne:

Eaglemont tops the list with an average tenure of 20 years.
Oakleigh and Pascoe Vale South follow with hold periods of 18.7 and 18.6 years, respectively.
In contrast, suburbs like Donnybrook and Kalkallo have shorter hold periods, averaging two and three years.
Cobblebank and Thornhill Park in Melbourne’s West also show shorter tenure with residents staying just over three years.
Units in Caulfield South are held for an average of 17 years, while Broadmeadows and Harkness units are held for about six years.

This Eaglemont home was a rare recent listing.

Sydney:

Rose Bay leads with an average house hold period of 20 years.
Canley Vale and Hassall Grove follow with hold periods of 20 and 19 years, respectively.
Melonba and Grantham Farm in Blacktown have shorter hold periods, averaging two and three years.
Box Hill and North Kellyville residents stay just over three and four years.
For units, Canley Vale tops the list with an average hold period of 15 years, while Schofields and Edmondson Park units are held for up to four years.

L to R, Isabel Coates and Tash Robinson enjoy the warm weather at Rose Bay. Picture: Sam Ruttyn

Brisbane:

The average hold period is nine years, below the national average.
Wishart shows an average tenure of 19 years.
Belmont and Sunnybank Hills have hold periods of 17.6 and 17.1 years, respectively.
South Ripley and Yarrabilba have shorter holds of four years.
Deebing Heights and Rochedale residents stay for about five years.
Red Hill units are held for 13.5 years, while Thornlands units are held for 4.7 years.

Wishart homes are held for 19 years on average

Adelaide:

The average hold period is 10 years, aligning with the national average.
Seaview Downs tops the list with an average hold period of 17.6 years.
Lightsview and Woodville Gardens have the shortest hold periods at six years.
Broadview’s average hold period for units is 14.6 years, while Bowden units are held for just 3.5 years.