prowest 10 Perth suburbs selling quicker now than they did during the ‘boom’
29 March 2017
Rossmoyne, Coogee and Mount Lawley are among Perth’s top 10 suburbs selling property faster now than they did during the ‘boom’.
President of REIWA, Hayden Groves said it was easy to get caught up in general Perth market talk, but it was important to look deeper to see how individual suburbs were performing.
“reiwa.com analysis shows Perth’s average selling day figure is currently 66 days, which is notably higher than in 2013 when it took on average 41 days to sell a property. However, if we dig a little deeper and look at average selling days at a suburb level, there are numerous areas of Perth selling significantly quicker now than they did in the boom,” Mr Groves said.
Rossmoyne experienced the biggest improvement in average selling days, with reiwa.com data revealing it is now 22 days quicker to sell in the area than it was in the year to January 2014.
Interestingly, eight of the 10 suburbs on the list have an annual median house price (for the year to January 2017) above $750,000, with 4 of those above the $1 million mark.
“These results show the quickest sales are happening in the suburbs that predominantly cater to the trade-up sector of the residential property market. Buyers looking to take the next step in their property journey clearly recognise there is good opportunity in the current market to take advantage of more affordable house prices to upgrade to a new home,” Mr Groves said.
Glen Forrest and Helena Valley were the only suburbs on the list with a median house price below $750,000, coming in at $534,000 and $557,000 respectively for the year to January 2017.
SUBURB ASD YEAR TO JAN 2014 ASD YEAR TO JAN 2017 DIFFERENCE
1. Rossmoyne 84 62 22 days faster
2. Churchlands 64 49 15 days faster
3. Glen Forrest 75 60 15 days faster
4. Dalkeith 65 50 15 days faster
5. Leederville 43 35 8 days faster
6. Claremont 54 46 8 days faster
7. Coogee 88 80 8 days faster
8. North Beach 53 46 7 days faster
9. Mount Lawley 62 56 6 days faster
10. Helena Valley 64 59 5 days faster
Note: Average selling days (ASD) filtered for suburbs with more than 30 house sales in each time period.
Source – REIWA
