Australian House Sales Decline, Selling Times Increase Significantly

Australia's property market is experiencing a significant slowdown, with September seeing a 20.9% drop in national home sales compared to last year. The average selling period has extended to 41 days, up from 26 days a year prior.

This trend suggests a shift towards a buyer's market in Melbourne's western growth corridor, where properties are staying on the market longer. Buyers have more time for due diligence, while sellers face increased pressure to adjust pricing.