Yahoo Finance The 5 fastest-selling property suburbs in Australia
Whether or not the Australian property downturn lingers until next year, there are a number of suburbs where homes have stayed in demand.
In some regional suburbs, houses are getting snapped up in just two weeks, more than three times faster than the national average of 43 days.
According to realestate.com.au data, here are the hidden hotspots where homes are spending no longer than 17 days to sell on average:
1. Glenlyon, Victoria
This small village lies about 101km from Melbourne’s CBD and draws people in with its rolling grasslands, the food fayre and the pub.
It’s also only a half hour drive to Hepburn Springs, where people visit for the luxury spas. Houses in Glenlyon sell in 14 days with a median sale price of $635,000.
2. Newington, Victoria
Newington is located in Ballarat, which is roughly an hour and a half away from Melbourne’s CBD, making it popular with those who make the daily commute into the city.
According to realestate.com.au, it’s also in the catchment zone for Ballarat Primary School, which has above-average Naplan results.
This suburb also typically sees homes on the market for just two weeks and a median price of $467,000.
3. Colebee, NSW
Though Colebee lies nearly 47km west from Sydney’s CBD, it lies near the site of the new Western Sydney International Airport in Badgerys Creek that is under construction.
Homes sell in 15 days, but have a higher median price at $1,002,000 and is more attractive to investors rather than homeowners, according to realestate.com.au.
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4. Forestville, South Australia
An inner-city suburb in Adelaide, the popularity of Forestville’s homes likely comes down to location, location, location.
Homes in this suburb are only on the market for 16 days and sell for $662,000.
5. Hammondville, NSW
Hammondville, approximately 31km west of Sydney’s CBD, is a practical location for homebuyers at a reasonably affordable price point of $730,000.
In this area, houses are on the market for an average of 17 days.
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