The fastest selling capital city property around Australia
The latest property Pulse from CoreLogic looks at which suburbs are moving property sales the fastest in each of the capital cities, with Hobart coming out as the clear winner.
Sydney and Melbourne
Some of the better performing suburbs for days on market were located on the outskirts of Sydney and Melbourne, with lower median house values than city-wide means, which Cameron Kusher, CoreLogic research analyst, said lined up with current property trends.
“This is reflective of much stronger demand, particularly over the second half of the year, for lower valued housing in both of these cities,” Mr Kusher said.
The fastest Units in Sydney slightly follow a similar trend being located away from inner suburbs, while the fastest units in Melbourne are found in the outer city area.
The fastest selling suburbs in Sydney are:
Property type | Suburb | Days on market | Median value |
---|---|---|---|
Home | Emu Plains | 13 | $758,126 |
Home | Raby | 13 | $676,888 |
Home | Lower Macdonald | 13 | $487,303 |
Home | Leonay | 13 | $845,279 |
Home | Cambridge Gardens | 14 | $668,948 |
Unit | Panania | 10 | $741,763 |
Unit | North Gosford | 11 | $484,141 |
Unit | Ourimbah | 11 | $435,786 |
Unit | Cherrybrook | 13 | $1,018,429 |
Unit | Russell Lea | 14 | $917,479 |
The fastest selling suburbs in Melbourne are:
Property type | Suburb | Days on market | Median value |
---|---|---|---|
Home | Badger Creek | 9 | $457,957 |
Home | Coldstream | 9 | $591,471 |
Home | Kalorama | 10 | $674,536 |
Home | Wandin North | 10 | $633,027 |
Home | Baxter | 11 | $499,983 |
Unit | Taylors Hill | 8 | $476,224 |
Unit | Cranbourne | 9 | $369,773 |
Unit | Narre Warren | 11 | $376,973 |
Unit | Deer Park | 12 | $402,976 |
Unit | Langwarrin | 12 | $403,920 |
Brisbane
Brisbane houses trended opposite to Sydney and Melbourne, with the fastest selling houses being located close to the CBD and values higher than the city-wide median.
“Unlike Sydney and Melbourne, affordability is less challenging in Brisbane and there hasn’t been any recent policy changes for first home buyers to boost demand at the more affordable end of the pricing range like in Sydney and Melbourne,” Mr Kusher said.
For units, all are located in the Brisbane council area with the majority having a median value under the greater Brisbane median.
The fastest selling suburbs in Brisbane are:
Property type | Suburb | Days on market | Median value |
---|---|---|---|
Home | Ferny Hills | 14 | $526,041 |
Home | Carina | 14 | $638,022 |
Home | Chermside West | 16 | $579,364 |
Home | Geebung | 18 | $536,785 |
Home | Salisbury | 18 | $587,122 |
Unit | Wishart | 13 | $399,313 |
Unit | Boondall | 20 | $363,639 |
Unit | Windsor | 21 | $395,777 |
Unit | Fitzgibbon | 22 | $335,568 |
Unit | Ferny Grove | 23 | $364,786 |
Adelaide
Following a similar trend to Brisbane, Adelaide’s fastest selling suburbs are located close to the city and have median values above the city-wide median, indicating there is also less of an affordability issue in South Australia’s capital city.
Units are also located close to the city centre and are valued higher than the Greater Adelaide median, which the Property Pulse indicates demand for higher-end units is strong in Adelaide.
The fastest selling suburbs in Adelaide are:
Property type | Suburb | Days on market | Median value |
---|---|---|---|
Home | North Adelaide | 18 | $1,005,015 |
Home | Unley | 19 | $974,306 |
Home | Saint Marys | 20 | $462,416 |
Home | Glandore | 22 | $628,046 |
Home | Park Holme | 22 | $491,806 |
Unit | Clarence Park | 16 | $348,130 |
Unit | Glenunga | 21 | $438,980 |
Unit | Linden Park | 22 | $439,907 |
Unit | Myrtle Bank | 23 | $408,404 |
Unit | Renown Park | 24 | $304,731 |
Perth
Most of Perth’s fastest selling suburbs for homes are located close to the city centre values higher than the city-wide median, with the exception of Heathridge.
In Perth, Heathridge, one of the five suburbs listed has a median value below the city-wide median, while the other four suburbs are relatively closer to the city centre and have higher values. Units saw an inverse trend with four out of five offering values higher than the Greater Perth median, located some of Perth’s more expensive areas.
The fastest selling suburbs in Perth are:
Property type | Suburb | Days on market | Median value |
---|---|---|---|
Home | Leederville | 17 | $820,071 |
Home | Trigg | 18 | $1,112,286 |
Home | Shenton Park | 19 | $1,199,747 |
Home | Heathridge | 21 | $439,046 |
Home | Myaree | 22 | $666,316 |
Unit | Claremont | 35 | $708,556 |
Unit | Nedlands | 35 | $564,537 |
Unit | Shenton Park | 37 | $478,532 |
Unit | Cottesloe | 42 | $728,661 |
Unit | Bassendean | 44 | $370,184 |
Hobart
The top performer for fastest selling houses and units both go to Hobart, an already well-performing capital city in terms of overall performance. The top five suburbs for houses in particular were faster than any other capital city’s suburbs. The majority of the fastest selling suburbs for units were located close to the city centre and below the city-wide median.
The fastest selling suburbs in Hobart are:
Property type | Suburb | Days on market | Median value |
---|---|---|---|
Home | Mornington | 6 | $316,584 |
Home | Warrane | 7 | $271,954 |
Home | Bellerive | 8 | $527,550 |
Home | Howrah | 8 | $458,211 |
Home | Mount Nelson | 8 | $610,976 |
Unit | Bellerive | 8 | $326,184 |
Unit | Montrose | 8 | $215,353 |
Unit | Mount Stuart | 8 | $324,112 |
Unit | Lenah Valley | 10 | $321,834 |
Unit | Sandy Bay | 10 | $467,423 |
Darwin
Darwin’s fastest selling suburbs were the longest when compared to the other capital cities, ranging between 36 to 81 days, which the Property Pulse suggests is indicative of soft demand. The fastest selling house and unit suburbs are located close to the city centre, with the former’s median values above the city-wide median.
The fastest selling suburbs in Darwin are:
Property type | Suburb | Days on market | Median value |
---|---|---|---|
Home | Millner | 36 | $316,584 |
Home | Rapid Creek | 38 | $271,954 |
Home | Jingili | 42 | $527,550 |
Home | Wagaman | 48 | $458,211 |
Home | Nakara | 49 | $610,976 |
Unit | Fannie Bay | 41 | $509,576 |
Unit | Coconut Grove | 69 | $367,796 |
Unit | Darwin City | 74 | $436,112 |
Unit | Stuart Park | 49 | $433,391 |
Unit | Bayview | 81 | $613,814 |
Canberra
Canberra’s fastest selling suburbs tend to be located around the suburban fringe, with half of both the fastest selling house and unit suburb values below the city-wide median.
The fastest selling suburbs in Canberra are: