WHILE a property takes over two months to sell on average, some suburbs are bucking that trend.
REIWA has listed Perth’s top 10 fastest-selling suburbs for the year to June 30, and interestingly most are in the western suburbs.
There has been a significant change to the list since it was last published in May, with four new suburbs claiming a spot in the top 10 and Craigie, Woodvale, Padbury and Floreat being knocked off the list.
Here is the list as it stands:
Rounding out the top 10 is Wembley. It took around 43 days for sellers in Wembley to achieve a sale in the year to June 2017, still significantly less than the overall Perth metro average. The suburb, which is close to popular Lake Monger and the Cambridge Street precinct, has seen growth in its annual median house price, sitting at $1.020 million in the year to June.
Houses in Claremont sold in around 42 days. With an annual median house price of $1.3 million, Claremont is an affluent suburb featuring leafy streets, well-placed parklands, and boutique shopping and café precincts. Located 10 kilometres from the Perth CBD, Claremont is a popular choice for couples and families alike.
On average, houses sold in Subiaco in 40 days in the year to June 2017. Subiaco is a well-established inner city suburb which holds great appeal to buyers due to its enviable heritage architecture, entertainment facilities and lifestyle precincts. The suburb’s annual median house price for the year to June is $1.165 million.
It took sellers in Nedlands approximately 40 days to achieve a sale in the area in the year to June. Part of Perth’s prestigious western suburbs, Nedlands has a reasonable median house price of $1.439 million for the year to June 2017. The suburb is well situated near a major public hospital and university, and features an abundance of recreational facilities like tennis courts, sports clubs, parks, a golf club and more.
On average, it took sellers in Dalkeith 39 days to sell their property in the year to June. Home to some of Perth’s finest mansions, Dalkeith is an affluent western suburb of Perth, nestled close to the Swan River. Dalkeith’s annual median house price has seen a 7.5 per cent growth over the year, sitting at $2.5 million in the year to June.
5. West Leederville
Houses in West Leederville sold in around 39 days. With an annual median house price of $1.057 million, West Leederville is a well-established suburb recognisable for its older character-style housing. The inner city suburb is just two kilometres from Perth’s CBD and features excellent transport, entertainment and recreational facilities.
Following closely behind Mt Claremont, it took approximately 37 days to sell a property in Parkwood in the year to June. With an annual median house price of $475,000, buyers can snap up a property in Parkwood for less than the Perth metro median. Located only 11 kilometres south of the Perth CBD, Parkwood is ideal for families with good public transport, plenty of local schools and nature reserves surrounding the area.
3. Mt Claremont
It took approximately 36 days to sell a home in Mt Claremont in the year to June 2017. A popular choice for families, Mt Claremont is an affluent suburb that appeals to buyers because of its attractive lifestyle opportunities. The suburb, which is close to excellent secondary schools and just 9 kilometres from the Perth CBD, has a median house price of $1.3 million for the year to June 2017.
It was considerably faster to sell property in Leederville than it was in the overall Perth metro region in the year to June, with sellers in the area needing, on average, just 35 days to secure a buyer. The quicker than average sale times appear to have had a positive impact on the suburb’s median house price, with Leederville’s annual median increasing over this same time period by 1.2 per cent to $860,000.
1. Shenton Park
Shenton Park is Perth’s fastest-selling suburb, taking on average 24 days for sellers to achieve a sale in the year to June 2017 – less than half the time of the overall Perth metro average. Shenton Park’s annual median increased by 1.2 per cent during this time, partly attributed to the access of quality local secondary colleges and relative affordability to other western suburbs.