Australia's hottest selling suburbs for houses and units
By Cameron Kusher
Over the 12 months to June 2016, houses have on average taken 46 days to sell and units 43 days.
A year earlier these figures were at similar levels with houses taking 45 days and units 41 days on average.
Looking at figures across the country's council regions, it is clear that the strong rate of sale is largely being driven by our most populous capital cities, Sydney and Melbourne.
Council areas with fewest days on the market, houses, 12 months to June 2016
Council Area | State | No of sales | Median days on market |
---|---|---|---|
Hobart | Tas | 610 | 18 |
Yarra Ranges | Vic | 2,102 | 19 |
Camden | NSW | 1,393 | 21 |
Casey | Vic | 4,210 | 21 |
Frankston | Vic | 2,125 | 21 |
Penrith | NSW | 2,551 | 22 |
Knox | Vic | 1,813 | 22 |
Subiaco | WA | 134 | 23 |
Campbelltown | NSW | 2,130 | 23 |
Warringah | NSW | 1,240 | 25 |
Maroondah | Vic | 1,342 | 25 |
Gosford | NSW | 2,945 | 26 |
Waverley | NSW | 462 | 27 |
Manly | NSW | 388 | 28 |
North Sydney | NSW | 253 | 28 |
Wollondilly | NSW | 816 | 28 |
Wollongong | NSW | 2,316 | 28 |
Clarence | Tas | 802 | 29 |
Shellharbour | NSW | 947 | 29 |
Sydney | NSW | 919 | 29 |
Wyong | NSW | 3,337 | 29 |
Banyule | Vic | 1,589 | 29 |
Boroondara | Vic | 1,953 | 29 |
Darebin | Vic | 1,304 | 29 |
Kingston | Vic | 1,551 | 29 |
Source: CoreLogic |
No suburbs outside NSW, Victoria, Western Australia and Tasmania even make the list.
Somewhat surprising is that Hobart has seen houses sell more quickly than anywhere else in the country, at just 18 days over the year.
Of the top 25 council areas listed, only Wollondilly, Wollongong and Shellharbour, all in NSW, are outside a capital city.
Council areas with fewest days on the market, units, 12 months to June 2016
Council Area | State | No of sales | Median days on market |
---|---|---|---|
Horsham | Vic | 33 | 13 |
Camden | NSW | 75 | 14 |
Penrith | NSW | 771 | 20 |
Warringah | NSW | 1,136 | 20 |
Campbelltown | NSW | 524 | 21 |
Sutherland Shire | NSW | 1,568 | 22 |
Parramatta | NSW | 1,477 | 23 |
Pittwater | NSW | 481 | 23 |
Clarence | Tas | 157 | 23 |
Maroondah | Vic | 746 | 23 |
Lane Cove | NSW | 405 | 24 |
Manly | NSW | 469 | 24 |
Mosman | NSW | 362 | 24 |
North Sydney | NSW | 1,186 | 24 |
Blacktown | NSW | 781 | 25 |
Botany Bay | NSW | 325 | 25 |
Hornsby | NSW | 587 | 25 |
Randwick | NSW | 1,154 | 25 |
Kingborough | Tas | 139 | 25 |
Knox | Vic | 542 | 25 |
Yarra Ranges | Vic | 316 | 25 |
Ryde | NSW | 943 | 26 |
Willoughby | NSW | 704 | 26 |
Gosford | NSW | 932 | 27 |
Holroyd | NSW | 741 | 27 |
Source: CoreLogic |
The unit market is generally showing quite similar trends to the detached housing market.
Again, the list of the top 25 areas is dominated by Sydney and Melbourne.
In fact, there are only two entries outside NSW and Victoria and only one (Horsham) that is not within a capital city region.
These figures make it clear why home values have been increasing at a much more rapid pace in Sydney and Melbourne than in the rest of the country. Heightened demand has increased competition for stock and resulted in sales occurring at a much more rapid pace.
More recently, housing demand has started to slow and we would expect that to continue over the coming year. In Sydney and Melbourne in particular homes will start taking longer to sell.
Conversely, markets such as Hobart and potentially south-east Queensland, along with some larger regional areas, may see their days-on-market figure fall as demand increases there and slows in Sydney and Melbourne.
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