While a property takes over two months to sell on average, some suburbs are bucking that trend.
We asked REIWA to list to Perth’s top 10 fastest-selling suburbs.
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While a number are in the western suburbs, with higher median prices, there are also some very affordable areas.
Here are Perth’s fastest-selling suburbs, for the year to February 28.
1. Shenton Park
Shenton Park is Perth’s fastest-selling suburb, taking on average 30 days for sellers to achieve a sale in the year to February 2017 – less than half the time of the overall Perth metro average. Shenton Park’s annual median increasing significantly by 13.1 per cent during this time, partly attributable to access to quality local secondary college and relative affordability to other Western Suburbs.
It was considerably faster to sell property in Leederville than it was in the overall Perth metro region in the year to February 2017, with sellers in the area needing, on average, just 37 days to secure a buyer. The quicker than average sale times appear to have had a positive impact on the suburb’s median house price, with Leederville’s annual median increasing over this same time period by 4.3 per cent to $857,500.
3. Mount Claremont
It took approximately 38 days to sell a home in Mount Claremont in the year to February 2017. A popular choice for families, Mount Claremont is an affluent suburb that appeals to buyers because of its attractive lifestyle opportunities. The suburb, which is close to excellent secondary schools and just 9km from the Perth CBD, has a median house price of $1.295 million for the year to February 2017.
On average, houses sold in Subiaco in just 38 days in the year to February 2017. Subiaco is a well-established inner city suburb which holds great appeal to buyers due its enviable heritage architecture, entertainment facilities and lifestyle precincts. The suburb’s annual median house price for the year to February 2017 is $1.203 million.
Rounding out the top five is Floreat, with vendors in the area needing approximately 39 days to sell their home in the year to February 2017. Quintessentially suburban, yet close to a number of popular inner city hubs like West Leederville and Subiaco, Floreat’s desirable property landscape commands a median house price of $1.23 million.
Padbury takes out sixth spot with an average selling day figure of 41 days for the year to February 2017. Padbury is situated 18km north of the CBD and is the first suburb on the list not located within Perth’s inner city region.With its proximity to the ocean-adjacent suburbs of Hillary’s and Sorrento, Padbury provides the benefits of a lifestyle close to the beach at a more affordable price, with an annual median of $535,000 for the year to February 2017.
Close to Padbury in Perth’s northern suburbs, Woodvale is the seventh fastest selling suburb in the metro region for the year to February 2017. It take 42 days on average for sellers in Woodvale to achieve a sale. The suburb has an annual median house price of $635,000, and is popular with families due to the array of good schools and transport options nearby.
Like Woodvale, it also took sellers in Nedlands approximately 42 days to achieve a sale in the area in the year to February 2017.Part of Perth’s prestigious Western Suburbs, Nedlands has a reasonable median house price of $1.498 million for the year to February 2017. The suburb is well situated near a major public hospital and university and features an abundance of recreational facilities like tennis courts, sports clubs, parks, a golf club and more.
Properties for sale in Craigie were sold in around 42 days in the year to February 2017 – 24 days faster than the overall Perth metro region average. Craigie is situated 22km north of Perth, neighbouring Padbury and Woodvale which also made the list. The suburb has an annual median house price of $450,000,making it the most affordable suburb to make the top 10.
10. West Leederville
West Leederville is the final suburb on the list, with houses in the area selling in around 43 days. With an annual median house price of $1.1 million, West Leederville is a well-established suburb recognisable for its older character-style housing. The inner city suburb is just 2km from Perth’s CBD and features excellent transport, entertainment and recreational facilities.
*All figures are based on year to February 2017 data.
*Medians, average selling days and annual growth rate figures are based on suburbs filtered for more than 30 house sales.