HOMES in Shelley and Willetton are among the fastest growing in Perth.
On average, they are being snapped up in 27 and 32 days respectively, compared to the Perth metro average of 63 days.
REIWA figures released last week show a massive reduction in the number of days homes in the suburbs were on the market, with Shelley down from 56 days and Willetton down from 61 days in the October 2017 quarter.
REIWA president Hayden Groves said Shelley was Perth’s sixth fastest selling suburb while Willetton was ranked sixteenth.
“Willetton in particular is an interesting case because although there are more smaller bedroom houses being purchased, the suburb’s median house price has increased, which suggests properties in Willetton sold at higher values in the December 2017 quarter,’’ he said.
“Willetton’s median house price increased 3.3 per cent in the December 2017 quarter to $713,000, putting it firmly within the trade-up market price range.
“Buyers who are looking to upgrade their homes are finding excellent value in Willetton, which offers plenty of convenience being close to numerous shopping centres, train stations, excellent secondary schools and Murdoch University.”
Varga Real Estate principal Nik Varga said he was not surprised homes in the area were being snapped up ahead of other suburbs.
“For many years I have said that Willetton was one of Perth’s best kept secrets and it’s true value has only been realised in the last 10 years or so,’’ he said.
“It is a middle to upper income area with little or no vandalism, hooligans etc.
“The percentage of parks to its total area is one of the highest in the metro area and it’s only 12km from the city.”
Another drawcard was Willetton Senior High School, which consistently ranked as one of the top public schools in the state.
Mr Varga said 7 Chancery Crescent in Willetton sold under the hammer recently for $52,500 above the reserve, with three hot bidders after a quick 10-day marketing campaign.
“Now is a good time to buy as I don’t believe prices will be any lower,’’ he said.
Other local suburbs performing well included Bull Creek, Riverton and Canning Vale.
Mr Varga said Riverton in particular was undergoing a transformation with many old homes being demolished and replaced by new homes.
“The riverside suburb has large blocks with zoning suitable for subdivision, and again it has easy access to the city,’’ he said.
“Canning Vale offers generally bigger and newer homes than can be bought in Willetton and at a substantially lower price. Hence buyers that do not require the school zones are looking to buy in this area.”