Real estate Australia: Sydney’s fastest selling suburbs

Not all Sydney suburbs are being affected equally by the property downturn, these are the suburbs continuing to sell very strongly.

Although there is widespread talk of Sydney’s property market being in a slowdown phase, some highly sought-after suburbs are still home to some fast-moving real estate.

New research by PropTrack has monitored which neighbourhoods have properties listed for the shortest time on market with beachside Bronte and Naremburn on the North Shore sharing the top spot at just 18 days.

Following closely behind, at 19 days on market, were Barden Ridge and Engadine in the Sutherland Shire, Camden South in the outer southwest, and Warrawee, also in North Sydney.

Alexander Philips, partner at PPD Real Estate, said he had sold between 45 and 50 homes in Bronte this calendar year, averaging 19 days on market.

Naremburn holds top spot for shortest time on market, with Bronte.

Despite homes across greater Sydney taking an average of 37 days to find a buyer, he said Bronte remained a hot commodity.

“Bronte has always been pretty resilient when the market changes and that’s probably down to the depth of the buyer pool. There’s never really that much stock on the market for it to be really tested if the market changes,” he said.

In the 12 months to July 30, Bronte had a median house price of $5.305m according to PropTrack records.

“Interestingly, most of the sales we do in Bronte are driven by the local market upgrading or downgrading. I think those low days on market are due to the fact that locals know what they want, and where they want to live, so many of them are just waiting for that right home to come up. So, when it does come up they’re prepared to move on it quickly,” he said.

Peter Chauncy of McGrath Crows Nest, who has many listings in Naremburn, said his office was selling local homes on an average of 14 days on market.

Homes are getting snapped up quickly in Bronte too. Picture: NCA NewsWire / Seb Haggett

“These quick sales are due to a combination of factors; first of all the low stock levels are driving a lot more interest and competition, and secondly Naremburn is very central to everything, the CBD, Chatswood, Crows Nest train station, as well as the new metro line coming in. It’s very popular with executives, young families and empty nesters and it’s because of that broad appeal that everything we list normally gets well sought after,” he said.

Mr Chauncy said auctions in the area didn’t always get to D-Day: “A lot of our properties are sold prior in the first week or two of the campaign.”

Merryn Hull has listed her Darlinghurst home and said she was confident of the sale.

“I think good properties are maintaining their value and this is very special,” she said.

Her unit on Stanley St goes to auction September 10 with BresicWhitney’s David Smith-Cameron and Emily Davidson.

SUBURBS WITH FASTEST SELLING PROPERTIES

Suburb	Region	Median days on site
HOUSES
1 Bronte	Eastern suburbs	18
2 Naremburn	North Shore	18
3 Barden Ridge	Sutherland Shire	19
4 Camden South	Outer South West	19
5 Engadine	Sutherland Shire	19
6 Warrawee	North Shore Hornsby	19
7 Airds	Outer South West	20
8 Alfords Point	Sutherland Shire	20
9 Bangor	Sutherland Shire	20
10 Dover Heights	Eastern suburbs	20
11 East Gosford	Central Coast	20
12 Mount Annan	Outer South West	20
13 North Turramurra	North Shore	20
14 Wahroonga	North Shore	20
15 Woronora Heights	Sutherland Shire	20
16 Balmain	Inner West	21
17 Bilgola Plateau	Northern Beaches	21
18 Clovelly	Eastern suburbs	21
19 Collaroy Plateau	Northern Beaches	21
20 Freshwater	Northern Beaches	21
UNITS
1 Manly Vale	Northern Beaches	15
2 Brookvale	Northern Beaches	17
3 Coogee	Eastern suburbs	20
4 East Gosford	Central Coast	20
5 Narara	Central Coast	20
6 Balgowlah	Northern Beaches	21
7 Breakfast Point	Inner West	21
8 Cremorne	North Shore	21
9 Dee Why	Northern Beaches	21
10 Newport	Northern Beaches	21
11 Bellevue Hill	Eastern suburbs	22
12 Clovelly	Eastern suburbs	22
13 Edgecliff	Eastern suburbs	22
14 Fairlight	Northern Beaches	22
15 Freshwater	Northern Beaches	22
16 Heathcote	Sutherland Shire	22
17 Mosman	North Shore	22
18 Queenscliff	Northern Beaches	22
19 Wollstonecraft	North Shore	22
20 Bondi Beach

Originally published as Real estate Australia: Sydney’s fastest selling suburbs