Sydney and Canberra the quickest sellers, but Brisbane, Hobart and Darwin units speed up with less time on market: RP Data

Units in Brisbane, Hobart and Darwin are spending significantly less time on the market, according to the latest information from RP Data.

Figures for the week ending April 21 show Brisbane units are spending 69 days on the market before selling, down from 80 days the week prior.

Hobart units are spending 62 days on the market before selling, down from 83 days the week prior.

Meanwhile, Darwin units are taking 54 days to sell, down from 77 days the week prior. Sydney and Canberra are the quickest selling cities.

‘Time on market’ (TOM) is the average number of days between when a property is first listed for sale and the contract date.

The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.

The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks.

The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis.

The analysis also excludes results where there are less than 10 observations.