Home selling picks up pace in Perth and Brisbane

Homes in outer-suburban areas of Australia’s capital cities were among the nation’s fastest-selling as buyer demand shifted to more affordable areas, but not all markets are equal. | SEE THE QUICKEST MARKETS

Steven and Brittany Keim with children Charleigh, 9, and Lachlan, 5, and puppy Lenny t their home in Wellington Point, which they are selling. Picture: Lyndon Mechielsen/The Australian

Homes in outer suburban areas of Australia’s capital cities have been among the nation’s fastest-selling as buyer demand shifted to more affordable areas.

Perth property sold almost two weeks faster this year than it did in 2023, with sellers securing deals at a median pace of 27 days, according to new analysis by PropTrack.

The speed was matched in Brisbane, where the number of days on the market shrank by four to 29.

All but one of the top 15 fast-selling regions were in the two cities or Queensland regional hubs. Armadale in Perth’s southeast was the quickest market, with homes being marked sold in a median of 16 days.

This was followed by the neighbouring regions of Serpentine-Jarrahdale and Kwinana, as well as Brisbane’s Strathpine, where 17 days on the market was typical this year. PropTrack economist Angus Moore said both markets had been very consistent since the pandemic.

“They are just very in-demand markets,” Mr Moore said. “They’re seeing very strong price growth and very quick sales times as a result.

“Perth in particular, it’s a real turnaround from a few years ago after a period of pretty soft conditions through the 2010s post the mining boom. Pre-pandemic, (days on market) was up closer to 90 days.”

The Agency’s West Australian general manager, Stuart Cox, said sales numbers were up but supply was still tight due to the high demand. He believes it could take two years to return to a normal market.

“If you look at the population of Perth, it doesn’t take a lot of people to enter or exit the market to skew the figures,” he said.

“You get an influx of people enter or an influx of people leave, and it puts stress on the market both ways.”

But it’s a different story elsewhere. Melbourne sellers listed for a median of 40 days this year, three days longer than in 2023, while deals in Hobart now take 42 days, up four, year on year. The regional areas of each state have some of the longest listing periods, which rose to more than 60 day medians in 2024.

Adelaide selling times shrank to 40 days throughout the year, a three day improvement.

There was no change in Sydney’s average time on the market, which held steady at 41 days. Homes sold fastest in Campbelltown and Penrith, at 24 and 25 days, respectively.

Brisbane sellers Steve and Brittany Keim, both 33, hope to achieve a quick result after listing their family home last week and buying a block to build nearby. The Wellington Point property sits in the region of Capalaba – which extends from the bayside suburb to Gumdale and Alexandra Hills – where homes took a median of just 20 days to sell.

“We have confidence in that house prices are going up and the interest rates are staying steady, and are probably going to come down,” Mr Keim said.

Place-Cleveland lead agent Wade Trask, who is selling the property, said many buyers were looking at the “bang for their buck” in the suburbs.

Many of these areas that sold quickly this year were also named the suburbs to watch next year in Realestate.com.au’s Hot 100 ­suburbs.