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The property market slowdown continues to see dampened confidence among buyers and sellers, with some markets even recording longer days-on-market even with the supposed spring-selling season already in full effect.

A study by Openn revealed the 20 most affected suburbs amid the current cooling conditions. These suburbs have seen homes sell 15 days longer than three months ago.

The list consists of 13 house markets and seven unit markets — 10 of these are in Queensland.

Openn managing director Peter Gibbons said knowing how long dwellings stay on the market would be beneficial for sellers and agents as they consider pricing and sales strategy.

“The longer a property is on the market, the less buyers expect to pay,” he said.

Mr Gibbons said there are non-traditional sales options available to help speed up property sales, particularly in these slowing markets.

“In analysing five years' worth of data, encompassing properties sold in a variety of areas and market conditions, we found vendors experience a median of 22 days on market when using a digital sales method, consistently outperforming national trends,” he said.

“By allowing more buyers to participate and providing a more transparent experience, digital sales processes offer vendors a better opportunity to extract the best possible price from the market.”

Suburb

State

Type

Days-on-market

3-month change in Days-on-market

Average Listings

Ballarat Central

Vic

Unit

51

+20

13

Dicky Beach

Qld

Unit

42

+19

8

Beaumaris

Tas

House

54

+19

5

Barmera

SA

House

56

+19

14

Sunnybank

Qld

Unit

54

+18

9

Woorim

Qld

Unit

54

+18

18

Liberty Grove

NSW

Unit

44

+18

6

Eagle Point

Vic

House

59

+18

7

Little Mountain

Qld

Unit

51

+18

5

Beaconsfield

Tas

House

52

+18

7

New Beith

Qld

House

36

+18

23

Currumbin

Qld

House

46

+17

10

Bicheno

Tas

House

50

+17

13

Belgian Gardens

Qld

House

52

+17

11

Beechmont

Qld

House

54

+16

7

Gulmarrad

NSW

House

57

+16

13

Cooroibah

Qld

House

46

+16

20

Invermay Park

Vic

House

44

+16

6

Barney Point

Qld

Unit

50

+15

6

Bridport

Tas

House

50

+15

17

Photo by Erik Mclean on Pexels.