Brisbane Owners are Holding their Properties for an Average of 11 years

REIQ’s Queensland Market Monitor June report has stated that the hold period for houses in all Australian capital cities have continued to trend upwards over the past 12 months.

In the report, it was stated owners of houses in Greater Brisbane and Greater Canberra were holding onto their properties for an average of 11 years.

Greater Melbourne and Sydney holding period had recently grown to an average of over 11.5 years. This longer period in comparison to other capital cities was reported to be due to affordability and high acquisition costs.

Greater Perth reported the largest increase over the past year, reporting to have increased to 10.6 years in May 2018 from the holding period of 10.1 years in May 2017. This trend explained by the area's vendors’ decision to hold on to their properties until house prices commerce a recovery period, according to the report.

Owners of houses in Greater Adelaide and Greater Darwin were holding on to their properties for 9 years, a shorter average period in comparison to other state's capitals.