Job relocation, financial stress and lifestyle changes, such as having a baby, are among the top reasons homeowners re-list their properties within two years, a new study has revealed.
New analysis from Suburbtrends shows that 6.1 per cent of homes nationally are re-listed within two years of purchase.
Queensland has the highest rate of re-listing within two years, with 9.2 per cent of properties put back on the market within 24 months, followed by Tasmania at 8.4 per cent, South Australia at 6.5 per cent and NSW at 5.7 per cent.
In Western Australia, 5.5 per cent of listings are re-listed within two years, followed by the Northern Territory at 5.2 per cent, Victoria at 4.3 per cent and the ACT at 3 per cent.
Suburbtrends Founder Kent Lardner said job relocation was the top reason for homeowners re-listing their property within two years, followed by financial stress, such as being unable to keep up with mortgage repayments and selling to avoid defaulting on their loan.
Lifestyle changes, such as marriage, divorce and having a baby, was the third most common reason for re-listing a home within two years.
“These factors are not unique to any one state, but their impact may vary across regions,” Mr Lardner said.
Other reasons include real estate investment or property flipping, which is where buyers purchase a property with the intention of renovating it and reselling it quickly, followed by market appreciation, neighbourhood dissatisfaction and property defects.
Mr Lardner said the analysis highlighted the importance of real estate agents maintaining strong relationships with clients who have recently bought a home.
“Given that 3 per cent to 9 per cent of homeowners resell within two years, depending on the state, agents can capitalise on this opportunity by staying in touch with their past clients,” he said.
In Queensland, Mr Lardner said the high rate of re-listing within two years could be attributed to a combination of factors, such as the state’s dynamic job market and attractive real estate investment opportunities.
“Queensland’s rapid development and economic growth have created a climate where job relocation and investment in real estate are more prevalent,” he said.
At the other end of the spectrum, the ACT’s low re-listing rate could reflect the stability of its employment market, driven by a large public service sector, as well as a generally high level of satisfaction with the region’s infrastructure and amenities.
“The ACT’s unique environment fosters stability, making it less likely for homeowners to re-list their properties within a short period,” Mr Lardner said.
The analysis also showed 69.4 per cent of buyers re-listed their home after 10 years or more, while 3.6 per cent of buyers relisted between five and six years.
“With around 70 per cent of homeowners holding onto their properties for 10 years or more before listing, it’s crucial for real estate agents to prioritise this group in their marketing efforts,” Mr Lardner said.
“By targeting long-term homeowners, agents can optimise their resources and focus on those who are ready to sell.”
He said using recent sales data was also critical.
“Homeowners considering selling their properties pay close attention to recent sales, particularly those involving houses similar to their own,” Mr Lardner said.
“Agents should capitalise on this by using direct mail to share information on recently sold properties with targeted homeowners.
“Direct mail has experienced a resurgence in popularity in recent years, thanks to the complexity and rising costs of digital ads, making it an effective and impactful marketing tool for real estate professionals.”