Properties advertised in both print and online mediums sell faster and for more money that those advertised online alone.
The Newspaper Works and CoreLogic RP Data have issued a set of findings stating that each state capital sees an uplift in the sales of homes, provided they are showcased in local print media.
All cities report that properties sold up to seven days quicker if they were profiled in local newspapers.
Sydney homes were sold for an average $50,000 more when advertised on both mediums, while prices achieved for homes in Perth were on average 8.7% (almost $50,000) higher for properties advertised in print and online, compared with houses and units advertised on digital channels only.
In Melbourne, 84% of homes advertised in print and online sold within their campaign period, compared with 63% for homes advertised online only.
“It’s no secret that Australians love property,” said Newspaper Works chief executive officer Mark Hollands. “On top of this, we know that the 1.8 million Australians who are likely to buy a property this year are heavy consumers of online and print news media, so it makes sense that real estate agents advertise across both mediums to achieve the best results for their clients.”
CoreLogic RP Data studied the sales history of 850,000 houses. Over a two-year period its analysts investigated where each property was advertised, its time on the market, the offer price and the value of the final deal.
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