Realestate.com.au chief economist Nerida Conisbee said it’s not always about high demand, but instead, it’s about low supply.
“When we look at demand, we look at both the number of people looking to buy, as well as the number of properties for sale,” she said.
“In some suburbs, not a lot of sales occur and so when buyers see a new property on the market, they tend to jump in quickly.”
A quick sale is great for the seller, but it can also be more stressful for the buyer who faces more competition and may settle for a less than ideal home because it’s their dream neighbourhood.
In Brisbane, one of the fastest selling suburbs is Chermside West.
The median house price in this suburb is $590,000. Located just 10km from Brisbane city, it’s no wonder buyers are hot off the mark when a property comes up for sale here. In fact, a house here generally spends only 26 days on the market.
Are you looking to get into a hot spot suburb? Browse our listings for sale. Maybe you’re ready to sell up and you’re after a quick result? Take a look at our advice for selling. You can contact our team at any time for all the real estate advice you need.
