40 tight areas set for a boom, and they aren’t Sydney or Melbourne

“There are locations in every state where buyer activity is increasing and properties are selling faster,” said Propertyology head of research and managing director Simon Pressley.

“In some cases, this activity has already created price growth and in others it’s only a matter of time.”

More growth-prone areas were found to be the more affordable areas, which Mr Pressley said is a key to long-term growth.

Tasmania

Clarence in Tasmania was the fastest selling region by far with an average time on market of only 10 days, a reduction of 60 per cent compared to last year. Previously, Tasmania has been identified as a high-growth area, as identified by Propertyology.

“Buoyed by a strong economy, properties in metropolitan Hobart, already Australia’s hottest property market for the last two years, are selling within seven to 10 days of being listed,” Mr Pressley said.

Looking to the regional areas, Mr Pressley said that the Burnie and Devonport areas have also seen a rise of sales volumes at 7 per cent and 11 per cent, respectively, and a decline of days on market at 17 per cent to 49 days and 35 per cent to 61 per cent, respectively, which he believes will lead to a future price growth.

Queensland

Queensland also saw great results, with five areas seeing tighter days on market statistics. The Gold Coast, in particular, Mr Pressley pointed out, saw a 31 per cent reduction of days on market.

“Of the five city councils that make up Greater Brisbane, the outer-east municipality of Redland has produced the biggest improvement in selling time (a 37 per cent increase over the last 12 months, down to an average 38 days),” the expert said.

“Improved buyer activity is occurring in regional Queensland, with data pointing towards a tightening market in Cairns, Hervey Bay, Mackay and the Gold Coast.

“The major project pipeline in the tropical wonderland is exciting for employment growth, housing supply is already tight and we are now seeing a reduction in selling time.”

South Australia

“Adelaide Hills plus middle-ring city councils such as Marion, Prospect, West Torrens and Salisbury have already produced a combination of increased sales volumes and a significant reduction in days on market,” Mr Pressley said.

Western Australia

Some Western Australian regional areas have seen their markets improve more than Perth due to the stabilising economy.

“Properties are selling much quicker now than a year ago in the lifestyle market of Broome, Busselton in the south, and both Karratha and Port Hedland in the Pilbara,” Mr Pressley pointed out.

Victoria

“Victorian markets that are tightening most include strong regional centres such as Ballarat and Shepparton along with Melbourne’s outer-east (Frankston, Dandenong, and Cardinia) and outer-north (Hume, Mitchell and Macedon Ranges),” Mr Pressley said.

New South Wales

Orange is a particularly impressive market for Mr Pressley, as sale volumes have risen by 13 per cent, and days on market have fallen by 23 per cent.

“Regional hubs throughout Hunter Valley are also tightening. While locations such as Maitland, Cessnock and Port Stephens have already seen good price growth, recent data points towards much improved activity in both Muswellbrook and Singleton where a typical house only costs $300,000,” the expert said.

The full list of the 40 tightening markets, according to Propertyology, are:

Location	Days on market	Annual change of days on market (as a reduction)	Annual change of sales volumes
Bega Valley, NSW	83	17%	-3%
Cessnock, NSW	45	25%	14%
Griffith, NSW	37	37%	5%
Lake Macquarie, NSW	28	37%	2%
Maitland, NSW	34	38%	11%
Muswellbrook, NSW	88	0%	25%
Orange, NSW	56	23%	13%
Palerang, NSW	65	35%	-3%
Port Stephens, NSW	46	23%	-1%
Singleton, NSW	83	26%	30%
Alice Springs, NT	57	49%	28%
Cairns, QLD	56	19%	-3%
Fraser Coast, QLD	73	15%	0%
Gold Coast, QLD	35	31%	-10%
Mackay, QLD	58	16%	4%
Redland, QLD	38	37%	-10%
Adelaide Hills, SA	56	28%	-1%
Gawler, SA	58	25%	4%
Marion, SA	35	19%	7%
Prospect, SA	36	36%	3%
Salisbury, SA	41	45%	2%
West Torrens, SA	35	22%	1%
Brighton, TAS	24	47%	28%
Burnie, TAS	49	17%	7%
Clarence, TAS	10	60%	3%
Derwent Valley, TAS	49	39%	31%
Devonport, TAS	61	35%	11%
Glenorchy, TAS	13	48%	6%
Sorrell, TAS	35	49%	20%
Ballarat, VIC	39	36%	12%
Cardinia, VIC	14	59%	11%
Frankston, VIC	18	40%	-4%
Hume, VIC	25	42%	-15%
Macedon Ranges, VIC	41	35%	10%
Shepparton,VIC	72	21%	10%
Wodonga, VIC	65	13%	13%
Broome, WA	64	15%	14%
Busselton, WA	72	17%	8%
Karratha, WA	46	40%	24%
Port Hedland, WA	50	42%	56% You need to be a member to post comments. Become a member for free today! Comments powered by CComment Related articles Author Sasha Karen Know more More from this writer: Where to find winners in the WA market How rents have performed for investors so far this year How to save money with a new repayment strategy Popular capital cities on the rise as market softens over June Cash rate call for July 2019 revealed New property sales rebound over May How far can a $500,000 budget get you in Sydney?