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The fastest selling suburbs in Perth

April 2nd, 2018 by Geoff Baldwin

The fastest selling suburbs in Perth

Article credit: Nicole Cox Source: Core logic – REA

Budding Homebuyers are snapping up houses in the hip inner-city hub of Leederville faster than any other Perth suburb, new data shows.

CoreLogic statistics show that Leederville houses sold after just 17 days on market last year. The median value of houses sold was $820,071.

Perth’s most expensive suburbs

The beachfront suburb of Trigg was the second fastest selling suburb in Perth last year, with homes selling after 18 days on market, closely followed by Shenton Park at 19 days.

Leederville is the fastest-selling suburb in Perth, followed by the beachfront suburb of Trigg. Picture: Getty

Heathridge and Myaree rounded out the top five quickest selling suburbs for houses, with 21 and 22 days on market respectively.

CoreLogic research principal Cameron Kusher says the median days on market figure was calculated by comparing the listing dates with the date a contract was signed.

It appears bargain hunters hit pay dirt in Heathridge, in Perth’s northern suburbs, with the suburb’s median house price of $439,046 considerably less than the $463,886 median value for Perth in December last year.

“In Perth, one of the five suburbs listed has a median value below the city-wide median (Heathridge), while the other four suburbs are relatively closer to the city centre and have higher values,” Kucher says.

“Housing demand has been weak across Perth since 2014, but more recently sales volumes have been improving after values have fallen by around 12% since their peak.”

First homeowners Spencer Hill and Kirsty Bertoldo found their three-bedroom starter home in a quiet cul-de-sac in Heathridge in February after searching for several months.

“We had been looking at other suburbs but kept overlooking Heathridge,” Hill says.

“In the end, we only looked at two houses in Heathridge and once we found our house we knew we had to act fast, so we put an offer in straight away.

“The house was only on the market for two weeks before we snapped it up. We had seen houses listed on one weekend in Heathridge and under offer the very next week.”

Bertoldo says Heathridge is an ideal location, close to the beach, public transport and big shopping centres at Joondalup and Whitfords.

“For our lifestyle, it’s very convenient due to the fact that it’s close for work, leisure and our family and friends,” she says. “We also found that it’s a good area with lots of new developments and renovations underway.”

Meanwhile, Claremont and Nedlands, in Perth’s affluent suburbs, snared the title as the fastest-selling suburbs for units last year, each recording 35 days on market.

Shenton Park, Cottesloe and Bassendean units rounded out the top five suburbs for quickest unit sales, selling in 37, 42 and 44 days respectively.

Kusher says: “Four of the five suburbs with the fewest days on markets for units in Perth have median values which were well above the greater Perth median”.

“In fact, a number of the suburbs are among some of the most expensive unit markets in the city sitting within some of the most prestigious suburbs.”

The CoreLogic statistics included only properties sold by private treaty, not those sold at auction.

Fastest-selling Perth suburbs for houses

Leederville, 17 days on market, median value $820,071

Trigg, 18 days on market, median value $1,112,286

Shenton Park, 19 days on market, median value, $1,199,747

Heathridge, 21 days on market, median value $439,046

Myaree, 22 days on market, median value $666,316

Fastest-selling Perth suburbs for units

Claremont, 35 days on market, median value $708,556

Nedlands, 35 days on market, median value $564,537

Shenton Park, 37 days on market, median value $478,532

Cottesloe, 42 days on market, median value $728,661

Bassendean, 44 days on market, median value $370,184

Source: CoreLogic – REA