Over the past five years the average length of tenure of ownership has increased sharply, indicating that Australians have a lower propensity to sell properties.
The average hold period, or the average length of tenure for a property, is simply the average difference between when a property is originally purchased and when it subsequently sells. The analysis of average ‘holding time’ provides an indication of how long people are likely to own their property prior to it being sold.
Across the country, the average length of tenure has been increasing during recent years. Between 2000 and 2005 the average holding time remained relatively flat at around 6.5 years for houses and six years for units. Since 2005 the average length of tenure has shown a consistent trend upwards.
Download a copy of the RP Data report: Why Australian home owners are staying put for longer