Gone in eight days: Australia’s best-selling houses

Perth’s housing market continues to overheat, with homes in one suburb spending an average of just eight days on the market.

The report, produced by MortgageBroker.com.au, found that of the 15 fastest-selling suburbs, 10 are in Perth, with homes in Leda, about 40km south of the WA capital’s CBD, topping the list.

“The suburb is attractive to families, first-timers, commuters and investors due to its proximity to major transport hubs and a wealth of amenities – all at a lower price than neighboring suburbs,” said the report, which looked at past sales. year, he said.

“With a median home price of $570,000, Leda is a hot spot for buyers, with 52 properties sold in the past year. In the past alone, nine homes were offered for auction, attracting 241 interested buyers, resulting in a buyer-to-home ratio of 27:1.”

In second place, Brookdale had an average of 10 days on market.

Brookdale, also south of the city centre, “offers some of the best value in the Perth metropolitan area”, the report says, “with a median house price of $500,000 and an impressive rental yield of 6 per cent”.

Two Perth suburbs share third place, Hillman and Darling Downs, with an average of 12 days on market.

Homes in Hillman sell for an average price of $565,000, while those in the Darling Downs sell for much more at $1,200,000.

Australia’s fastest-selling suburbs

▲ Source: MortgageBrokers.com.au.

The Sydney suburbs of Normanhurst and Dean Park round out the top five, both averaging 13 days on the market.

In the last 12 months, 52 houses have been sold in Normanhurst, 34km north-west of the CBD, with an average house price of $1,945,000, while in Dean Park, 40km west of the city centre, the price is $925,000.

The only city in Brisbane to make the list is Brandale, coming in 14th place with an average of 18 days on market.

Offering strong rental yields of 4.6 per cent, last month 545 interested buyers competed for just six available homes in the suburb, which is about 20km north of the River City CBD.

Fewer rental vacancies

Meanwhile, home vacancy rates across Australia fell slightly to 1.2 per cent in September, according to SQM Research.

The total number of rental vacancies was 37,932 properties, down from 39,665 in August.

Perth, Canberra and Hobart, as well as regional Australia, were the main drivers of the decline – all other capital cities saw stable or modest growth.

Sydney’s rental vacancy rate remained stable at 1.6%, with 11,360 rental homes vacant, while in Melbourne the figure increased to 1.7%, with 8,796 rental homes vacant, an increase of 0. 1% more than in August.

Canberra had the highest rental vacancy rate among states and territories at 2 per cent, down slightly from August.

Vacancies in Perth fell to 0.6 per cent and in Darwin to 1 per cent.

▲ Rental vacancies in capital cities remained stable in September.

Adelaide maintained one of the lowest vacancy rates at 0.6 per cent, while Hobart saw its vacancy rate drop to 0.8 per cent.

“Regional markets were the main driver of the fall in vacancy seen in August, with Australia’s regional markets overall losing 0.10pp to 1.19%,” SQM said.

“On the contrary, the number of vacant spaces in the capitals remained relatively stable during the month, decreasing by only 0.01 percentage points.

“While capital city vacancy rates remained broadly stable, there were significant differences across states, with Melbourne and Brisbane recording increases, while Perth, Hobart, Darwin and the ACT recording declines of 0.10ppt or more.

“While vacancy rates fell in most capital cities over the month, they remain higher than 12 months ago in every market except Darwin and Hobart.

“Despite this, conditions for tenants remain extremely challenging, with vacancy rates of less than 2 percent in every market.”