Fastest selling suburbs revealed

The Real Estate Institute of Western Australia has named the top 10 Perth suburbs that have recorded the fastest average selling days for the year to February.

Heathridge, Leederville and Shenton Park took the top three spots with average selling days of 33, 35 and 37 respectively, well below the average 62 selling days for the overall Perth market.

Woodvale, Ferndale, Parkwood, Hamersley, Beldon, Craigie and Kingsley also made the top 10.

The analysis also showed that half of the suburbs on the list had an overall median price below $500,000.

The median price combined houses and units.

Reiwa president Hayden Groves said the latest data showed that although Perth buyers were still in a good position to take their time finding the right home, there were still a number of suburbs experiencing a faster than average turnover.

“When we drill down to suburb level we see numerous pockets across the metropolitan area where it takes much less time to sell and where buyers need to act quickly to secure their purchase,” Mr Groves said.

“If you are looking to sell your home in one of those areas, provided your property is priced correctly, it is very likely to be snapped up quickly by motivated buyers.”

Mr Groves said first home buyers remained active in the local property market, with current conditions continuing to entice that demographic to take their first step into home ownership.