40 property hotspots where homes are selling faster than a year ago

Homes in some property hotspots are selling in almost half the time they were a year ago, although it comes at at time when buyers are showing more caution and home prices are moderating nationwide. As the spring selling season gets off to a cautious start, new data from realestate.com.au data has revealed a surprising trend in nearly half of Australia's property markets, with homes selling up to 43% faster than the same time last year.Of the 88 SA4 regions across the country, 40 have seen a drop in the number of days on market compared to the same time last year, while 10 markets spent the same amount of time on the market. It's a surprising revelation given Australia's cooling housing market, which has been fuelled by higher interest rates and major tax changes to property investors.The data analysed the days on market metric, which represents the average number of days that it takes to sell a home in a particular location, for each SA4 region. SA4 regions are geographical areas defined by the Australian Bureau of Statistics (ABS) and are usually larger than a local government area (LGA) with a population of between 100,000 and 500,000 people. These regions can vary in size from ...