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Door Open for Quick Home Sales

13 April 2013

Homebuyers looking for a house in the City of Joondalup’s southern suburbs are facing one of the most competitive markets in WA.

Real Estate Institute of WA figures show that properties for sale in Joondalup south are snapped up faster than anywhere else in the metropolitan region.

In the March quarter, it took an average of just 36 days for a home to sell in the area, which includes the suburbs of Beldon, Craigie, Duncraig, Greenwood, Hillarys, Kallaroo, Kingsley, Marmion, Mullaloo, Padbury, Sorrento, Warwick and Woodvale.

Properties in Perth city were on the market for an average of 41 days, with Wanneroo north-east (44 days), Canning (46 days) and Bassendean/Bayswater (49 days) close behind.

Erik Van Ryssen, 31, and Candice Crosbie, 29, picked up the keys to their new home in Sorrento late yesterday.

Mr Van Ryssen said they knew they had to put an offer on their dream home as soon as they saw it advertised to avoid missing out.

“Because we had done a bit of homework for a number of months leading up to us eventually viewing this property, we could see how quickly houses were moving,” he said.

“If we had waited two days longer before we viewed the property, we would have missed it.”

In Rockingham and Kwinana, houses took an average of 78 days to sell in the three months to March 31, making this by far the slowest-selling suburban market.

Properties in Fremantle sat on the market for an average of 65 days, followed by the sub-markets of Armadale/Serpentine and the Hills (63 days).

Perth’s overall property listings have fallen from 18,200 in April 2011 to 8300 at the end of March.

REIWA research and policy executive manager Stewart Darby said that as the market became more competitive, average selling days inevitably tended to fall.

“Average selling days have been falling consistently over the past 12 months,” he said.

“There is a lot less property available for sale, so in a period of rising demand it has become a lot more competitive. It’s about supply and demand.”

It was revealed this month that Perth’s median house price had hit a record $510,000 in the quarter.

The leading price range was $400,000 to $450,000 followed by $600,000 to $700,000. << back to news articles