Revealed: 20 suburbs defying the market slowdown

By Gerv Tacadena | 09 May 2022

The housing market boom brought about by the unique factors amid the pandemic has started to ease but a new report from Well Home Loans identified 20 suburbs that appear to go the opposite direction.

The list, which is composed of nine metro and 11 regional locations, include markets that are showing clear signs of robust price gains.

Well Home Loans CEO Scott Spencer said these markets are likely to heat up further over the next few months.

“Inventory levels and days on market have fallen in all 20 locations over the three months to April, often from already low levels, which shows buying conditions have become harder,” he said.

The list is composed of suburbs across different price ranges, with the cheapest being New South Wales’ Lithgow that has a median price of $429,000 and South Australia’s Glenunga having the most expensive median price at $1.4m.

“Vendors have noticed, raising their asking prices in all but two of the locations — this is likely to translate to higher selling prices in the second half of the year.”

The suburbs included in the list have experienced substantial reduction in days on market between January and April 2022.

Furthermore, these suburbs also reported lower inventory levels, which refer to the time needed for the existing stock to be totally sold.

Most of the suburbs in the list have an inventory level of under one month, which means it would take less than 30 days for the current supply to be sold (assuming no further stock is added to the market).

State

Suburb

Type

Median asking price

Days on Market

Inventory Level

VIC

Campbells Creek

House

$659,000

37

Under 1 month

QLD

Corinda

House

$1,208,340

23

Under 1 month

NSW

Albion Park Rail

House

$772,500

20

Under 1 month

NSW

Tuncurry

House

$705,000

38

Under 1 month

NSW

Lithgow

House

$429,000

34

Under 1 month

NSW

Albion Park

House

$821,600

20

4 months

NSW

Smithfield

Unit

$691,200

45

Under 1 month

SA

Greenwith

House

$545,000

26

Under 1 month

NSW

Rylstone

House

$480,000

40

Under 1 month

TAS

Gagebrook

House

$320,000

24

Under 1 month

WA

Chidlow

House

$649,000

43

1.7 months

NSW

Calderwood

House

$949,000

21

3 months

QLD

Enoggera

House

$1,025,000

22

Under 1 month

SA

Glenunga

House

$1,400,000

18

1.2 months

VIC

Cranbourne North

Unit

$490,000

35

1.3 months

NSW

Wangi Wangi

House

$897,600

31

1.3 months

SA

Golden Grove

House

$575,000

34

Under 1 month

ACT

Banks

House

$779,100

20

Under 1 month

NSW

Woodrising

House

$663,000

25

1.2 months

VIC

Cranbourne East

Unit

$504,720

37

3 months

Photo by @aguywithcamera on Unsplash

Top Suburbs : keperra , mayfield , ropes crossing , rockville , coolbellup

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