Nearly 40% of suburbs across the Perth metropolitan region have a limited supply of houses for sale, according to a new report from the Real Estate Institute of Western Australia (REIWA).

Hayden Groves, president of REIWA, said that following an analysis of 244 Perth suburbs, it was found that 95 suburbs had limited choices for property buyers.

Additionally, of the 95 undersupplied suburbs, 45 have less than 1% of their homes for sale.

“1.3 per cent of the 818,000 properties across Perth are listed for sale, however when [you] take a closer look, 95 suburbs have listing levels below this,” Groves said. “While some of these suburbs have marginally less choice than the overall Perth average, others have significantly less.”

REIWA’s data shows that Nedlands and Greenwood are the city’s most undersupplied suburbs, with 0.4% of the housing stock available for sale. The next three most undersupplied suburbs are Heathridge, Ocean Reef, and City Beach, where only 0.5% of the housing stock is available for sale. 

Of Perth’s 15 most undersupplied suburbs, all but one had significantly faster average selling days than the Perth average.

“Across the metro area, it takes 72 days to sell a home, but in Perth’s undersupplied suburbs, buyers are snapping up properties in places like Heathridge, for example, in as quickly as 29 days,” Groves said. “It’s apparent there is stronger buyer demand in those suburbs with fewer listings.

“Home owners in these undersupplied suburbs who are thinking of selling are in a very good position. With less stock to choose from, buyers have more competition, meaning there is a better chance for sellers to achieve a quicker sale at a competitive price in these markets.”

Here are Perth's 15 most undersupplied suburbs:

Suburb Percentage of total housing stock for sale Average number of days to sell
1. Nedlands 0.4% 31
2. Greenwood 0.4% 37
3. Heathridge 0.5% 29
4. Ocean Reef 0.5% 73
5. City Beach 0.5% 46
6. Leeming 0.6% 65
7. Craigie 0.6% 42
8. Bull Creek 0.6% 43
9. Padbury 0.6% 46
10. Floreat 0.6% 47
11. Hamersley 0.6% 48
12. Willetton 0.6% 61
13. Duncraig 0.6% 51
14. Mount Hawthorn 0.6% 34
15. Kingsley 0.6% 50
Perth metro region  1.3% 72

Source: REIWA/ *Filtered for suburbs with greater than 10 listings.

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