Research

The fastest selling capital city property around Australia

By Sasha Karen
fastest selling capital city property, Australia

The latest property Pulse from CoreLogic looks at which suburbs are moving property sales the fastest in each of the capital cities, with Hobart coming out as the clear winner.

Sydney and Melbourne

Some of the better performing suburbs for days on market were located on the outskirts of Sydney and Melbourne, with lower median house values than city-wide means, which Cameron Kusher, CoreLogic research analyst, said lined up with current property trends.

“This is reflective of much stronger demand, particularly over the second half of the year, for lower valued housing in both of these cities,” Mr Kusher said.

The fastest Units in Sydney slightly follow a similar trend being located away from inner suburbs, while the fastest units in Melbourne are found in the outer city area.

The fastest selling suburbs in Sydney are:

Property type Suburb Days on market Median value
Home Emu Plains 13 $758,126
Home Raby 13 $676,888
Home Lower Macdonald 13 $487,303
Home Leonay 13 $845,279
Home Cambridge Gardens 14 $668,948
Unit Panania 10 $741,763
Unit North Gosford 11 $484,141
Unit Ourimbah 11 $435,786
Unit Cherrybrook 13 $1,018,429
Unit Russell Lea 14 $917,479

The fastest selling suburbs in Melbourne are:

Property type Suburb Days on market Median value
Home Badger Creek 9 $457,957
Home Coldstream 9 $591,471
Home Kalorama 10 $674,536
Home Wandin North 10 $633,027
Home Baxter 11 $499,983
Unit Taylors Hill 8 $476,224
Unit Cranbourne 9 $369,773
Unit Narre Warren 11 $376,973
Unit Deer Park 12 $402,976
Unit Langwarrin 12 $403,920

Brisbane

Brisbane houses trended opposite to Sydney and Melbourne, with the fastest selling houses being located close to the CBD and values higher than the city-wide median.

“Unlike Sydney and Melbourne, affordability is less challenging in Brisbane and there hasn’t been any recent policy changes for first home buyers to boost demand at the more affordable end of the pricing range like in Sydney and Melbourne,” Mr Kusher said.

For units, all are located in the Brisbane council area with the majority having a median value under the greater Brisbane median.

The fastest selling suburbs in Brisbane are: 

Property type Suburb Days on market Median value
Home Ferny HillsFerny Hills, QLD Ferny Hills, QLD 14 $526,041
Home Carina 14 $638,022
Home Chermside West 16 $579,364
Home Geebung 18 $536,785
Home SalisburySalisbury, SA Salisbury, QLD 18 $587,122
Unit Wishart 13 $399,313
Unit Boondall 20 $363,639
Unit WindsorWindsor, NSW Windsor, VIC Windsor, QLD 21 $395,777
Unit Fitzgibbon 22 $335,568
Unit Ferny Grove 23 $364,786

Adelaide

Following a similar trend to Brisbane, Adelaide’s fastest selling suburbs are located close to the city and have median values above the city-wide median, indicating there is also less of an affordability issue in South Australia’s capital city.

Units are also located close to the city centre and are valued higher than the Greater Adelaide median, which the Property Pulse indicates demand for higher-end units is strong in Adelaide.

The fastest selling suburbs in Adelaide are:

Property type Suburb Days on market Median value
Home North Adelaide 18 $1,005,015
Home Unley 19 $974,306
Home Saint Marys 20 $462,416
Home Glandore 22 $628,046
Home Park Holme 22 $491,806
Unit Clarence Park 16 $348,130
Unit Glenunga 21 $438,980
Unit Linden Park 22 $439,907
Unit Myrtle Bank 23 $408,404
Unit Renown Park 24 $304,731

PerthPerth, TAS Perth, WA

Most of Perth’s fastest selling suburbs for homes are located close to the city centre values higher than the city-wide median, with the exception of Heathridge.

In Perth, Heathridge, one of the five suburbs listed has a median value below the city-wide median, while the other four suburbs are relatively closer to the city centre and have higher values. Units saw an inverse trend with four out of five offering values higher than the Greater Perth median, located some of Perth’s more expensive areas.

The fastest selling suburbs in Perth are:

Property type Suburb Days on market Median value
Home Leederville 17 $820,071
Home Trigg 18 $1,112,286
Home Shenton Park 19 $1,199,747
Home Heathridge 21 $439,046
Home Myaree 22 $666,316
Unit ClaremontClaremont, TAS Claremont, WA 35 $708,556
Unit Nedlands 35 $564,537
Unit Shenton Park 37 $478,532
Unit Cottesloe 42 $728,661
Unit Bassendean 44 $370,184

Hobart

The top performer for fastest selling houses and units both go to Hobart, an already well-performing capital city in terms of overall performance. The top five suburbs for houses in particular were faster than any other capital city’s suburbs. The majority of the fastest selling suburbs for units were located close to the city centre and below the city-wide median.

The fastest selling suburbs in Hobart are:

Property type Suburb Days on market Median value
Home MorningtonMornington, VIC Mornington, QLD Mornington, TAS 6 $316,584
Home Warrane 7 $271,954
Home Bellerive 8 $527,550
Home Howrah 8 $458,211
Home Mount Nelson 8 $610,976
Unit Bellerive 8 $326,184
Unit MontroseMontrose, VIC Montrose, TAS 8 $215,353
Unit Mount Stuart 8 $324,112
Unit Lenah Valley 10 $321,834
Unit Sandy Bay 10 $467,423

Darwin

Darwin’s fastest selling suburbs were the longest when compared to the other capital cities, ranging between 36 to 81 days, which the Property Pulse suggests is indicative of soft demand. The fastest selling house and unit suburbs are located close to the city centre, with the former’s median values above the city-wide median.

The fastest selling suburbs in Darwin are:

Property type Suburb Days on market Median value
Home Millner 36 $316,584
Home Rapid Creek 38 $271,954
Home Jingili 42 $527,550
Home Wagaman 48 $458,211
Home Nakara 49 $610,976
Unit Fannie Bay 41 $509,576
Unit Coconut Grove 69 $367,796
Unit Darwin City 74 $436,112
Unit Stuart Park 49 $433,391
Unit BayviewBayview, NSW Bayview, NT 81 $613,814

Canberra

Canberra’s fastest selling suburbs tend to be located around the suburban fringe, with half of both the fastest selling house and unit suburb values below the city-wide median.

The fastest selling suburbs in Canberra are:

Property type Suburb Days on market Median value
Home Florey 23 $696,295
Home Charnwood 24 $460,430
Home Hackett 24 $906,953
Home Evatt 25 $592,504
Home Holt 25 $528,331
Unit Amaroo 25 $487,798
Unit Page 25 $438,092
Unit Harrison 27 $395,077
Unit Palmerston 29 $417,108
Unit Theodore 30 $402,765
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