Which Perth suburbs bucked the sales slowdown?

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Amid the subdued market conditions in 2019, some suburbs in Perth still managed to outperform, recording robust growth in sales volume and shorter days-on-market, according to the Real Estate Institute of Western Australia (REIWA).

REIWA president Damian Collins said the suburbs to watch out for this year are the ones where the number of days to sell a house is well below the Perth average.

Over the past year, the average days-on-market in the city is 84 days. Of all the suburbs in the city, Wembley reported the shortest selling days at 39 days, followed by Heathridge at 41, Wet Leederville at 43, and Carine at 44.

"Increased demand in good, quality stock is creating competition between buyers, resulting in quicker selling times and higher sale prices," Collins said.

The table below shows the top-performing suburbs in terms of average days to sell last year:

Top suburbs by average days to sell

SUBURB

AVERAGE DAYS TO SELL

1. Wembley

39

2. Heathridge

41

3. Wet Leederville

43

4. Carine

44

5. White Gum Valley

45

6. Nedlands

45

7. Kingsley

46

8. Woodvale

46

9. Shenton Park

47

10. Mount Claremont

49

Overall Perth market

84

Homeowners in the above-listed suburbs who are thinking of selling are well placed to secure a sale at a favourable price, Collins said.

"They should listen to the advice of their real estate agent to ensure they price their property in line with market conditions," he said.

In terms of sales volume, Lakelands reported the biggest gains, recording a 36% growth in sales volume. The overall sales volume in this suburb was 72. Of the top ten suburbs with the highest growth, Waikiki was the busiest, recording sales of 152 for the year.

The table below shows the top suburbs by sales activity growth over the past year:

Top suburbs by sales activity growth

SUBURB

SALES

CHANGE IN SALES VOLUME

1. Lakelands

72

36%

2. Mundaring

43

30%

3. Alfred Cove

39

30%

4. Manning

73

28%

5. Swanbourne

52

27%

6. The Vines

72

24%

7. Carine

83

24%

8. Waikiki

152

21%

9. Heathridge

113

16%

10. Erskine

92

14%

Overall Perth market

NA

-5%

The suburbs above bucked the overall downtrend in sales growth across Perth.

Collins said an increase in turnover and a reduction in selling days are often a leading indicator of future price growth in a suburb.

"While sales activity in the lower-priced end of the Perth market remains soft, activity in the 600,000 plus price range has strengthened, which has created increased demand among trade-up buyers who now make up 53% of buyers, " Collins said.

Top Suburbs : dulwich hill , millner , rockville , coolbellup , sth toowoomba

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