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In a city running hot all year, one suburb stands out by selling homes in just a little over a week.
According to a new report from MortgageBroker.com.au, which analysed sales data from across the country, the city of Perth is home to the suburbs where homes are selling in record time, with the southern suburb of Leda leading the charge. The average time for homes to sit on the market before being sold is just eight days.
Other Perth suburbs, such as Brookdale, Hillman and Darling Downs, also feature prominently on the list, highlighting the region’s rapid housing turnover. The surge in demand is driven by affordability, proximity to major hubs and competitive rental yields, attracting families and investors alike who are prepared to make an offer in record time
On average in Australia, it takes roughly 30 days from listing the property to sealing the sale. Below, read about the top 10 suburbs where homes are finding buyers in no time at all.
Leda, Western Australia
Houses in Australia are sold the quickest in Perth’s suburb of Leda, where the average time on the market is only eight days. With a much lower price than neighbouring suburbs, Leda attracts families, first-time buyers, commuters and investors due to its proximity to major hubs and wealth of amenities.
As a hotspot suburb for buyers, the median house price of $570,000 has led to 52 properties going under the hammer over the past year. In the last month, nine houses listed attracted 241 interested buyers, resulting in a competitive 27:1 buyers-to-house ratio.
Brookdale, Western Australia
Not far behind Leda, Brookdale ranks a close second with an average of 10 days on the market. Known for its affordability, Brookdale offers some of the best value in the Perth metropolitan area, with a median house price of $500,000 and an impressive rental yield of 6 per cent.
Hillman & Darling Downs, Western Australia
As a joint third place, Perth’s suburbs Hillman and Darling Downs sell houses with an average of 12 days on the market. Hillman homes sell for a medium house price of $565,000, while Darling Downs houses more than double that number by securing a much higher $1,200,000. Currently, Hillman has eight houses on the market and 197 buyers interested in the area, with around 24 buyers for each house up for auction.
Normanhurst and Dean Park, NSW
Sydney suburbs Normanhurst and Dean Park round out the top five with a tie, averaging 13 days on the market. Normanhurst sold 52 homes in the last 12 months, seeing a median house price of $1,945,000, significantly over doubling Dean Park's medium house price, which reached $925,000.
Ridgewood, Western Australia
Listed as the seventh fastest-selling suburb, Ridgewood adds to the dominating Perth market with houses on the market for an average of 14 days, with a median house price of $610,000.
Seville Grove and Hocking, Western Australia
Ranking eighth on the list of top suburbs selling the fastest in Australia, Perth’s family-friendly suburb Seville Grove has homes on the market for an average of 15 days. Hocking joins Seville Grove at number eight, with homes on the market for the same amount of time, however its average medium price of $762,500 is higher than Seville Grove’s average medium price of $596,000.
Brendale, Queensland
Brendale, the only Brisbane suburb to secure a spot in the top 15, has houses selling with an average of 18 days on the market. Notably 545 interested buyers competed for just six available homes in the last month alone, offering a strong rental yield of 4.6 per cent.
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