Fastest-selling markets revealed

Houses are being snapped up most quickly in Western Australia and New South Wales, according to a new analysis revealing the fastest-selling markets in the country.

The analysis by RP Data revealed that, on average, houses in Perth spent only 54 days on the market while Sydney properties sold after 59 days.

By contrast, homes in Hobart were on the market for 90 days, and in Darwin for 90 too.

The fastest growing council in the country was in Perth’s Bassendean, where time on market was as low as 32 days.

Bassendean was also the most active market for units, with properties snapped up within 27 days.

Gosnells, Canning and Victoria Park all made it into the top 10, with houses selling in 42 days, as well as Belmont at 45 days.

Sydney’s outer regions are also moving fast, with Blacktown, Campbelltown and Penrith all selling within 45 days.

Of the top 25 markets with the shortest selling time for houses, 11 were in New South Wales and 12 were in Western Australia.

Victoria also got two spots, with properties selling within 37 days in Knox and 41 in Maroondah.

For units, inner suburbs in Sydney near the harbour or coast were most popular.

Lane Cover, Marrickville, Sutherland Shire, Botany Bay, Hornsby, Ryde and Warringah were all highlighted for their quick turnarounds.

Nationally, time on market is somewhat elevated, at 80 days for houses and 75 for units.

However, this signals an improvement over the year prior, when time on market was 94 days for houses and 88 for units.

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