Blink and You’ll Miss Out Suburbs

Despite doomsday predictions that rising interest rates will slow down property sales, new data shows many suburbs where properties are changing hands within less than two weeks.

PropTrack data shows that strong buyer demand, combined with limited housing supply, is driving faster sales in many areas, which could lead to further price growth.

The fastest-selling suburb nationally is Carrum Downs in Melbourne’s outer south east, where a typical house sells in 11 days.

The median house price in Carrum Downs rose almost 12% in the past 12 months to $787,500, at about three times the pace of price growth of Greater Melbourne.

Adelaide’s fastest-selling suburbs are Bridgewater (16 days) and Crafers (14 days).

Brisbane’s fastest-selling suburbs are Zillmere (15 days) and Chermside West (19 days).

Sydney’s fastest-selling suburbs are Naremburn (18 days) and Clovelly (19 days).

Perth’s fastest-selling suburbs are Woodvale (13 days) and Edgewater (18 days).

On a capital city basis, houses sell fastest in Adelaide (22 days) and take the longest in Hobart (36 days).