New figures show suburb in the City of Kwinana is top of 10 fastest selling suburbs in Australia

The City of Kwinana has the nation’s fastest selling suburb, new figures have revealed. According to data analysed by experts at MortgageBroker.com.au, Perth has nine of the nation’s 11 fastest selling suburbs, with Sydney the only other capital to snare two spots on the list. Properties in Leda, 40km south of the Perth CBD, are being snapped up in just eight days. The affordable southern suburb isn’t the only Perth area where properties are selling like hotcakes though, with the city dominating a list of Australia’s fastest selling suburbs. The report attributed Leda’s affordability and “fierce competition” for frenzied buyer activity, citing it was attractive to families, first-time buyers, commuters and investors due to its proximity to major hubs and wealth of amenities. With an average house price of $528,000, the report calculated a 54:1 buyers-to-house ratio sourcing data from Domain and realestate.com.au. Coulson and Co Real Estate licensee Michael Coulson, whose agency specialises in the area said low supply and high demand had led to the area’s speedy sales. “The majority of our properties sell during the pre-launch stage of their campaign which is where they are listed on our website and sent out to our database of pre-qualified buyers before they hit the main real estate websites,” he said. “As a lot of listings are landlords wanting to sell investment properties with an existing lease in place, this narrows the buyer pool for these properties to investors but Leda is also a great suburb for young families as it offers a convenient location with access to lots of amenities while still being relatively affordable.” He said one listing in the suburb sold within 24 hours of hitting the market while many others sell before they are officially launched. Southern Gateway Real Estate sales consultant Chloe Halligan said the area was popular with families and investors because it was only 10 minutes from the beach, 30 minutes from the city, and was still significantly cheaper than the average priced home in Perth. She said many properties were selling at their first home open, less than a week after hitting the market. “We are definitely getting a minimum of at least five offers per property in Leda, if not more,” she said. Brookdale, located within the City of Armadale, was Australia’s second fastest selling suburb with an average 10 days on the market. With a median sales price still below $500,000, it’s affordability was cited as a key driver of its rapid sales. Hillman and Darling Downs came in equal third place with an average of 12 days on the market. The report calculated Hillman had 40 buyers for each house on sale while Darling Downs had a 28:1 ratio. Australia’s fastest selling suburbs Leda, Perth: 8 days Brookdale, Perth: 10 days Hillman, Perth: 12 days Darling Downs, Perth: 12 days Normanhurst, Sydney: 13 days Dean Park, Sydney: 13 days Ridgewood, Perth: 14 days Hocking, Perth: 15 days Seville Grove, Perth: 15 days Kwinana Town Centre, Perth: 16 days Pearsall, Perth: 16 days