The suburbs across Australia where homes are selling out faster

Research has named Aussie suburbs that are so hot homes are being snapped up as much as four weeks faster there now compared to sales last year.

With demand moderating and supply increasing, homes are taking longer to sell than a year ago. Despite this, demand for several suburbs across the country remain on the rise.

Properties in some areas of Sydney, Melbourne and Brisbane have sold more than three weeks faster than they did in December 2023. In Adelaide, the reduction is even higher, with properties in some suburbs selling more than four weeks faster.

According to new data from PropTrack, the national median days on market was 32 days for houses and 31 days for units in December 2024. This reflects longer listing times on realestate.com.au compared to the 28 and 27 days reported in the previous year.

Economic analyst for REA, Megan Lieu, said homes in several suburbs across Australia were selling out up to four weeks faster than they were in December of 2023.

While the time it takes to sell houses and units in Sydney has increased by three days over the past year, they continue to sell faster than the national median. Picture: iStock

NSW

In Sydney, the time it takes to sell both houses and units has increased by three days over the past year, which is consistent with national trends.

However, houses and units in Sydney are still selling faster than the national median, averaging just 29 days and 30 days on the market respectively, reflecting the city’s ongoing appeal with buyers.

While the broader trend shows that properties are remaining on the market for longer, there are many suburbs in the city where homes are being purchased in fewer days than a year prior.

16 Banksia Rd, for sale in Wentworth Falls. Compared to December 2023, sales times in Wentworth Falls were reduced by 25 days.

Wentworth Falls, Watanobbi and Hamlyn Terrace were among the suburbs where houses sold faster in December 2024 compared to December 2023, with sales times reduced by 25, 17 and 14 days, respectively.

Wahroonga and Ambarvale also grew in popularity among house buyers, with properties respectively selling 11 and 10 days faster.

For units, North Kellyville, Mortlake and Fairfield in Sydney saw some of the largest falls in days on the market, selling around two to three weeks faster than in December 2023.

Sale times for units in St Leonards and Guildford also had notable reductions, with decreases of 18 and 17 days, respectively.

The easing of demand, likely driven by later-than-expected interest rate cuts and an improvement in the number of homes for sale, have led to a shift towards a more balanced market.

While the days on market are still lower than pre-pandemic times, they have increased in recent months, and we anticipate that this trend will persist if current market conditions continue.

The time it takes to sell homes in Melbourne is increasing, but it still remains below the national average and the time it took to sell before the Covid pandemic. Picture: David Caird

VIC

In Melbourne, the time it takes to sell both houses and units has respectively increased by two and three days over the past year, which is consistent with national trends.

However, houses and in Melbourne are still selling faster than the national median, averaging just 29 days, while units are being sold at the same rate of 31 days. This reflects the city’s ongoing appeal with buyers.

While the broader trend shows that properties are remaining on the market for longer, there are many suburbs in the city where homes are being purchased in fewer days than a year prior.

46 Vida St, for sale in Aberfeldie. Aberdelfie homes sold 28 days faster in December 2024, compared to the previous year.

Aberfeldie, Safety Beach and McCrae were among the suburbs where houses sold faster in December 2024 compared to December 2023, with sales times reduced by 28, 22 and 21 days, respectively.

Blairgowrie and Narre Warren North also grew in popularity among house buyers, with properties respectively selling 17 and 16 days faster.

For units, Rosanna, Alphington and Glen Huntly saw some of the largest falls in days on the market, selling over two weeks faster than in December 2023.

Sale times for units in Springvale and Dandenong also had notable reductions, with decreases of 16 and 14 days, respectively.

The easing of demand, likely driven by later-than-expected interest rate cuts and an improvement in the number of homes for sale, have led to a shift towards a more balanced

market.

While the days on market are still lower than pre-pandemic times, they have increased in recent months, and we anticipate that this trend will persist if current market conditions continue.

Properties in Brisbane typically remain on the market longer than they did in December of 2023, with several exceptions across the city.

QLD

In Brisbane, the time it takes to sell both houses and units has respectively increased by five and six days over the past year, which is consistent with national trends.

However, houses and units in Brisbane are still selling faster than the national median, averaging just 23 days and 21 days on the market respectively, reflecting the city’s ongoing appeal with buyers.

While the broader trend shows that properties are remaining on the market for longer, there are many suburbs in the city where homes are being purchased in fewer days than a year prior.

54 Deenya Pde, for sale in Russell Island. Sales times for Russell Island were reduced by 27 days from 2023 to 2024.

Russell Island, Ormiston and Edens Landing were among the suburbs where houses sold faster in December 2024 compared to December 2023, with sales times reduced by 27, 19 and 18 days, respectively.

Logan Village and Carseldine also grew in popularity among house buyers, with properties respectively selling 18 and 12 days faster.

In Mango Hill, Morayfield, and Auchenflower, units sold significantly faster, reducing their market time by 11, 6, and 5 days, respectively, compared to December 2023.

Sale times for units in Mount Gravatt East and Cleveland also had notable reductions, with both experiencing decreases of 5 days.

The easing of demand, likely driven by later-than-expected interest rate cuts and an improvement in the number of homes for sale, have led to a shift towards a more balanced market.

While the days on market are still lower than pre-pandemic times, they have increased in recent months, and we anticipate that this trend will persist if current market conditions continue.

While homes in Adelaide take longer to sell than the national median, the time it takes to sell them decreased by at least a week from 2023 to 2024. Picture: Colliers

SA

In Adelaide, the time it takes to sell both houses and units has decreased by seven and eight days over the past year, respectively, which is in contrast with national trends and reflects the city’s ongoing appeal with buyers.

However, houses and units in Adelaide are still taking longer to sell than the national median, averaging 50 days and 46 days on the market respectively.

While the broader trend shows that properties are remaining on the market for longer, Adelaide has many suburbs where homes are being purchased in fewer days than a year prior.

184 Esplanade, for sale in South Brighton. South Brighton saw the largest reduction in sale time out of the measured suburbs here: homes sold 35 days faster in December 2024, compared to December 2023.

South Brighton, Holden Hill and Taperoo were among the suburbs where houses sold faster in December 2024 compared to December 2023, with sales times reduced by 35, 33 and 33 days, respectively.

For units, Glenelg, Prospect and Mawson Lakes in Adelaide saw some of the largest falls in days on the market, selling up to two weeks faster than in December 2023.

The easing of demand, likely driven by later-than-expected interest rate cuts and an improvement in the number of homes for sale, have led to a shift towards a more balanced market on a national level.

While the days on market are still lower than pre-pandemic times, they have increased in recent months, and we anticipate that this trend will persist if current market conditions continue.

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Megan Lieu is an economic analyst for REA Group’s PropTrack team.