This affordable suburb typically sells within just seven days
Homes in some of Australia’s most affordable suburbs are selling faster than anywhere else in the country due to strong buyer demand and booming price growth, new data from PropTrack has revealed.
The report, which tracks days on market — the time it takes for a property to sell after being listed — shows homes in these competitive areas are often snapped up within days.
On average, homes in Australia stay on the market for 43 days before selling, though this varies by location. With interest rates remaining high and housing affordability at its lowest in decades, many buyers are turning to more affordable suburbs and regions.
“We’re seeing a lot of price growth and housing demand in more affordable parts of the country, and within cities,” said Paul Ryan (pictured), senior economist at PropTrack. “Housing affordability is extremely strained, so it is not surprising that those regions that offer affordability are drawing in more buyers.”
Fastest selling suburbs
The fastest selling suburb over the past year was Seville Grove in Perth’s southeast, where homes typically sold within just seven days. With a median house price of $575,000, Seville Grove is more affordable than most of Perth and Australia overall. However, strong buyer competition has driven prices up by 35% in the past year.
Seven of the top 10 fastest selling suburbs were located in Perth, particularly in the city’s south and southeast regions. Perth’s property prices have risen by about 23% over the past year, fuelled by a shortage of homes, strong demand for affordable properties, and heightened investor activity.
Outside of Western Australia, one of the fastest selling regions was Townsville, where homes in high-demand suburbs typically sold in less than two weeks. The fastest selling suburb in Townsville, Heatley, saw homes selling within eight days on average, with the suburb’s median house price increasing by 14% to $353,500 over the past year.
Many Queensland suburbs also ranked among the fastest sellers in the unit market, with eight of the top 10 fastest selling suburbs located in Cairns, the Gold Coast, and Brisbane.
The data also highlights shifts in days on market over time, which can indicate changing price dynamics in different suburbs.
In Perth, days on market have significantly decreased in northern suburbs like Butler, Heathridge, and Greenwood, where homes now typically sell within two weeks, compared to more than a month a year ago.
In Newcastle, New South Wales, suburbs like Kotara, Mayfield, and Lambton have seen homes selling twice as fast as last year, now typically within three weeks.
Despite these trends, some suburbs in regional areas and holiday hotspots still face longer selling times. For instance, it typically takes 254 days to sell a house in Roxby Downs, South Australia, while homes in towns like Eden and Bellingen in New South Wales, and Apollo Bay and Loch Sport in Victoria, can take five to six months to sell.
Ryan explained that homes in regional areas often take longer to sell due to the bespoke nature of the properties and the need to find the right buyer.
“Suburban houses are a pretty straightforward product,” he said. “But in holiday hotspots, and regional areas in general, homes tend to be a bit more bespoke. It’s not always about price, it’s about finding the right buyer.”
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