Homes are selling at lightning speed in one unsuspecting capital as affordability concerns and a lack of housing supply increase competition.
Proptrack data shows where homes sell fastest in each state, with eight of the country's 10 fastest-selling suburbs located in Perth, with many homes selling within two weeks It was revealed that it was selling well.
Topping the list is Brookdale in Perth's southeast, where homes started construction in just nine days, well below Perth's median of 55 days.
Local agents say some homes can sell in as little as a day.
Fastest selling suburbs in 2023 – Capital
| suburbs | area | Median days on market |
| Brookdale, Washington | Perth – South East | 9 |
| Seville Grove WA | Perth – South East | Ten |
| Camilo WA | Perth – South East | 12 |
| Waikiki, Washington | Perth – South West | 12 |
| Brinsmead, Queensland | cairns | 12.5 |
| greenfields washington state | Mandurah | 13 |
| Hilbert WA | Perth – South East | 14 |
| Calista WA | Perth – South West | 14 |
| leda washington | Perth – South West | 14.5 |
| Harrisdale, Washington | Perth – South East | 15 |
See which suburbs are selling fastest in each state.
Damian Miller of The Agency in Perth recently sold a property at 31 Graffham Road, Brookdale, to an investor in eastern Australia. His four-bedroom family home was listed for $465,000 and sold in just over 24 hours.
Mr Miller told realestate.com.au: “Listings opened on the Tuesday afternoon on Melbourne Cup Day and the homes sold on Thursday morning.”
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 800 450"%3E%3C/svg%3E)
This modest home in Perth's Brookdale sold just over 24 hours after it went on the market. Photo: realestate.com.au
He noted that investors are flocking to the suburbs to take advantage of the large number of affordable properties for sale.
“These experienced investors are in a very difficult situation for first home buyers. If you don't have pre-approval and aren't on your agent's buyer list, you're unfortunately not even a candidate. .”
The Waikiki suburb in Perth's southwest is also very popular, ranking fourth overall in the country with a median time on market of 12 days.
Like Brookdale, the suburb is also particularly popular with interstate investors, with Steve Hazelhurst selling a property quickly to a Victorian buyer last month.
A four-bedroom home at 49 Nangala Drive in Waikiki sold for $602,500 within 11 days.
Like this home in Waikiki, homes in Perth's southern suburbs will be built within days. Photo: realestate.com.au
Mr Haselhurst said the suburb had been steadily gentrifying in recent years.
“Waikiki homes have traditionally been owned by a single resident, many of whom purchased them in the mid-1980s. And many of them are now starting to age and are starting to take them to the market.” he explained.
He noted that many of these homes have become “very attractive” to East Coast investors.
“They're spending $475,000 to $575,000 for a home in Waikiki, versus $750,000 to $800,000 to get the same home on the East Coast,” Hazelhurst said. Ta.
“So for every two homes they buy on the East Coast for that kind of money, they can get three homes here and get a better yield.”
Proptrack economist Angus Moore echoed Perth's affordability for buyers, describing it as a “very hot” market.
“It's still a much more attractive proposition compared to other states, even though interest rates continue to rise,” he said.
“Also, there are not that many homes available for sale across Perth at the moment. The total number of properties for sale on realestate.com.au in Perth hit an all-time low earlier this year, but at this time It’s not much better,” he added.
“That means it's a very limited option for buyers and properties sell quickly as they become available.”
Housing is being built rapidly in regional Queensland areas such as Toowoomba and Cairns.Photo: Getty
Queensland was the fastest-selling suburb in the country, with the suburbs of Cairns, Wide Bay and Toowoomba dominating the entire top 10.
Brinsmead in Cairns is Australia's fastest selling regional suburb, with homes breaking ground in just 12.5 days.
Wide Bay's Svensson Heights was also popular, with a median time on the market of 15 days.
“Regional Queensland has remained popular since the pandemic,” Mr Moore said. “Many people are moving into the area from the interstate, which is driving demand for real estate in the area.”
“That is reflected in how quickly properties are selling and the fact that prices in these areas have increased quite significantly over the last few years.”
In October, Alexie Aristides of Twomey Shriver Property Group sold a property at 32 Mackie Close, Brinsmead.
This 4 bedroom home in Brinsmead, Queensland sold within 5 days. Photo: realestate.com.au
The four-bedroom home was sold for $730,000 by a Western Australian family just five days after it went on the market.
“Buyers are generally attracted to this area because it's beautiful and quiet, yet only a 10-minute drive from the hustle and bustle of the city,” Aristides said.
Mr Moore said properties in regional Queensland were also selling rapidly due to lower inventory.
“To put some numbers into context, regional areas in Queensland have fewer properties listed for sale on realestate.com.au compared to pre-pandemic or compared to the 10-year average. It's half compared to that.”
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PropTrack data is based on the suburbs with the lowest number of days on realestate.com.au in the last 12 months to November 2023.
At least 30 suburban sales were required.
Fastest selling suburbs in each state
New South Wales' best selling suburbs
| suburbs | area | Days on market |
| Callan's Hill NSW | Sydney – Outer South West | 16 |
| Camden South NSW | Sydney – Outer South West | 18 |
| Rabie NSW | Sydney – Outer South West | 18 |
| Narellan Vale New South Wales | Sydney – Outer South West | 18 |
| kings langley new south wales | Sydney – Blacktown | 18 |
| rosemeadow new south wales | Sydney – Outer South West | 18.5 |
| glenmore park new south wales | Sydney – Outer West and Blue Mountains | 18.5 |
| carrion new south wales | central coast | 19 |
| St Clair, New South Wales | Sydney – Outer West and Blue Mountains | 19 |
| St Andrews, New South Wales | Sydney – Outer South West | 19 |
Victoria's best-selling suburb
| suburbs | area | Days on market |
| Wandin North Victoria | Melbourne – Outer East | 15 |
| Belgrave, Victoria | Melbourne – Outer East | 16 |
| Bayswater North Victoria | Melbourne – Outer East | 18 |
| Langwarin VIC | mornington peninsula | 19 |
| gladstone park victoria | Melbourne – North West | 19 |
| Heathmont VIC | Melbourne – Outer East | 19.5 |
| Montrose VIC | Melbourne – Outer East | 20 |
| Croydon South Victoria | Melbourne – Outer East | 20 |
| Doreen Vick | Melbourne – North East | 20 |
| The Basin VIC | Melbourne – Outer East | 20 |
Queensland's best-selling suburb
| suburbs | area | Days on market |
| Brinsmead, Queensland | cairns | 12.5 |
| Svenson Heights, Queensland | wide bay | 15 |
| freshwater in queensland | cairns | 15 |
| bentley park, queensland | cairns | 15 |
| Auralea, Queensland | Mackay – Isaac – Whitsunday | 15.5 |
| kepnock, queensland | wide bay | 16 |
| Rockville, Queensland | toowoomba | 16 |
| Manoora, Queensland | cairns | 17 |
| marsden, queensland | Logan – Beaudesert | 18 |
| vincent queensland | townsville | 18 |
Fastest selling suburbs in Western Australia
| suburbs | area | Days on market |
| Brookdale, Washington | Perth – South East | 9 |
| Seville Grove WA | Perth – South East | Ten |
| Camilo WA | Perth – South East | 12 |
| Waikiki, Washington | Perth – South West | 12 |
| greenfields washington state | Mandurah | 13 |
| Hilbert WA | Perth – South East | 14 |
| Calista WA | Perth – South West | 14 |
| leda washington | Perth – South West | 14.5 |
| Harrisdale, Washington | Perth – South East | 15 |
| secret harbor washington | Perth – South West | 15 |
Fastest selling suburbs in South Australia
| suburbs | area | Days on market |
| Bridgewater SA | Adelaide – Central and Hills | 18 |
| Plimpton Park SA | Adelaide – South | twenty three |
| Edwardstown SA | Adelaide – South | 28.5 |
| Port Noarlunga South SA | Adelaide – South | 29.5 |
| Smithfield SA | Adelaide – North | 30 |
| McLaren Vale SA | Adelaide – South | 30 |
| grunge SA | Adelaide – West | 30.5 |
| Goolwa South SA | South Australia – South East | 30.5 |
| Happy Valley SA | Adelaide – South | 31 |
| Hallett Cove SA | Adelaide – South | 32 |
Tasmania's best-selling suburb
| suburbs | area | Days on market |
| West Hobart TAS | hobart | twenty four |
| South Hobart TAS | hobart | 24.5 |
| Lauderdale TAS | hobart | 25.5 |
| East Launceston TAS | Launceston and the North East | 27.5 |
| Kingston Beach TAS | hobart | 30 |
| Blackman's Bay TAS | hobart | 32 |
| West Launceston TAS | Launceston and the North East | 33 |
| Norwood TAS | Launceston and the North East | 34 |
| Hobart TAS | hobart | 34 |
| Rokebee TAS | hobart | 34 |
Fastest selling suburbs in the ACT
| suburbs | Days on market |
| lawson act | 34.5 |
| blues ACT | 36 |
| Mawson ACT | 38 |
| gunnawar method | 38 |
| Turner ACT | 38.5 |
| Campbell method | 40.5 |
| lions law | 41 |
| Wanniassa ACT | 42 |
| Casey ACT | 42 |
| Braddon ACT | 42 |
Northern Territory's fastest selling suburbs
| suburbs | area | Days on market |
| Zuccoli NT | darwin | 59.5 |
| Rapid Creek Northern Territory | darwin | 68.5 |
| nightcliff northern territory | darwin | 69 |
| Parap Northern Territory | darwin | 70 |
| lean Northern Territory | darwin | 70 |
| Bellamac Northern Territory | darwin | 72 |
| Northern Territory Darwin City | darwin | 76 |
| muirhead northern territory | darwin | 77 |
| gray NT | darwin | 77 |
| Humpty Doo Northern Territory | darwin | 78 |
