New data shows that an average of 6.1% of homes nationally are re-listed within two years of purchase. Why?
Whilst Victoria’s rates are the second lowest, coming in at 4.3%, the top reason for homeowners re-listing their property within two years is relocation, closely followed by financial stress, such as being unable to keep up with mortgage repayments and selling to avoid defaulting on their loan. Lifestyle changes, such as marriage, divorce and having a baby was the third most common reason.
Other reasons include real estate investment or property flipping, which is where buyers purchase a property with the intention of renovating it and reselling it quickly, followed by market appreciation, neighbourhood dissatisfaction and property defects.
If you are looking to re-list your property, get in touch with Chamberlain Property Advocates today to discuss how we can help.
To book a free 20 minute connection call, simply click here and choose a time convenient to you. Alternatively, give me a call on 03 9686 2288 to discuss how I can help.
