WHILE it takes over two months on average to sell a property in Perth there are a number of areas where homes selling in about a month.
In one, properties are selling in just over two weeks.
REIWA has listed Perth’s fastest selling suburbs for the 12 months to November 2018.
The number one suburb has taken out top spot several times this year with eager buyers snapping up properties quickly.
Here are the top 10:
Kicking off the list for Perth’s fastest selling suburbs is Wembley with an average selling time of 37 days. There were 94 houses were sold in in Wembley during the 12 months to November 2018,Wembley’s median house price experienced a decline of 4.1 per cent to $942,500 during the year to November. The suburb is close to Subiaco and Leederville, presenting attractive lifestyle opportunities with an abundance of facilities and shopping hubs close by.
It took Palmyra an average of 37 days to settle a sale in the year to November 2018. Kingsley’s median house lifted marginally by 0.1 per cent to $600,000 during the year to November 2018 and recorded 96 sales in this time.
At number eight on the list is Kingsley with an average selling day figure of 37 for the year to November 2018. Kingsley’s median house price for the year to November is $549,000 which is 2.8 per cent lower than the same time last year. With 168 houses sold in the area during the 12 months to November, Kingsley offers a selection of amenities, schools and enjoys close proximity to public transport.
It took sellers in Trigg an average of 36 days to sell their house in the year to November 2018. Trigg offers buyers a prime coastal position with many lifestyle precincts. Since the same time last year, Trigg’s median price lifted slightly by 0.7 per cent to $1.16 million. There were 37 houses sold during the 12 months to November.
6. Mt Hawthorn
It was notably faster to sell a house in Mt Hawthorn than it was in the overall Perth Metro region during the year to November 2018, with sellers in the area needing an average of 36 days to settle a sale. There were 105 houses sold in the area during the 12 months to November, and Mt Hawthorn’s median house price lifted three per cent to $890,000 since the same time last year. Mt Hawthorn is a personable suburb that provides residents with an inner-city lifestyle with a yesteryear allure.
Kicking off the top five is Leederville which took an average of 36 days for houses to sell in the year to November 2018. Leederville’s inner-city location appeals to buyers and investors looking for a vibrant lifestyle in an ideal location. Leederville’s median house price has softened by 2.4 per cent since the same time last year which takes the figure to $888,000. During that time, 34 houses were recorded sold in Leederville.
Taking approximately 35 days to sell for vendors to sell their house, Hamersley comes in at number four on the list for Perth’s fastest-selling suburbs. Since the same time last year, 71 houses were sold in Hamersley and its median house price softened 0.7 per cent to $533,750 making it the most affordable suburb to buy in on the list.
It took approximately 34 days to sell a property in Nedlands in the year to November 2018. Part of the affluent Western Suburbs, investors and buyers are drawn to Nedlands because of the attractive lifestyle opportunities it presents, this is reflected in the number of house sales this year – with 126 reported. Nedlands median house price currently sits at $1.635 million which is an increase of 5.1 per cent compared to the same time last year.
Next on the list is Floreat, with vendors in the area needing approximately 30 days to sell their home in the year to November. Floreat recorded an annual growth of 4.7 per cent to its median house price which takes the figure to $1.35 million. There were 97 houses sold during the 12 months to November in the inner-western suburb, which can be attributed to its desirable landscape, located close to popular inner-city hubs like West Leederville and Subiaco.
1. Shenton Park
Shenton Park is Perth’s fastest selling suburb for houses, taking an average of 17 days for sellers to achieve a sale in the year to November 2018 – roughly four times faster than the Perth Metro region. Shenton Park offers an attractive, luxury lifestyle with a median house price of $1.146 million. There were 61 houses reported sold in the area in the 12 months to November.