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Australia’s hottest selling suburbs for houses and units

hottest selling suburbs

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 AreaStateNo of salesMedian days on market
HobartTas61018
Yarra RangesVic2,10219
CamdenNSW1,39321
CaseyVic4,21021
FrankstonVic2,12521
PenrithNSW2,55122
KnoxVic1,81322
SubiacoWA13423
CampbelltownNSW2,13023
WarringahNSW1,24025
MaroondahVic1,34225
GosfordNSW2,94526
WaverleyNSW46227
ManlyNSW38828
North SydneyNSW25328
WollondillyNSW81628
WollongongNSW2,31628
ClarenceTas80229
ShellharbourNSW94729
SydneyNSW91929
WyongNSW3,33729
BanyuleVic1,58929
BoroondaraVic1,95329
DarebinVic1,30429
KingstonVic1,55129
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 AreaStateNo of salesMedian days on market
HorshamVic3313
CamdenNSW7514
PenrithNSW77120
WarringahNSW1,13620
CampbelltownNSW52421
Sutherland ShireNSW1,56822
ParramattaNSW1,47723
PittwaterNSW48123
ClarenceTas15723
MaroondahVic74623
Lane CoveNSW40524
ManlyNSW46924
MosmanNSW36224
North SydneyNSW1,18624
BlacktownNSW78125
Botany BayNSW32525
HornsbyNSW58725
RandwickNSW1,15425
KingboroughTas13925
KnoxVic54225
Yarra RangesVic31625
RydeNSW94326
WilloughbyNSW70426
GosfordNSW93227
HolroydNSW74127
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.

Written by Cameron Kusher

Cameron Kusher

Cameron Kusher is head of research at CoreLogic.

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