Western Sydney and The Central Coast Home To Fastest Property Sales
The property market may be slowing down, but houses are still selling quickly in Western Sydney and along the Central Coast.
What you need to know
- Western Sydney and the Central Coast are home to some of the fastest selling properties, according to realestate.com.au
- Homes in Colebee - near Mount Druitt - are selling in just 15 days
- Forresters Beach, Camden South, Illawong and Padstow are also being snapped up quickly
Auction clearance rates may be falling across the country, but it's not all bad news for Sydneysiders.
Western Sydney is boasting some of the quickest property sales, according to realestate.com.au.
Colebee in the Blacktown area has come out as one of the fasting selling spots, where the median house price is currently $1,020,000.
Houses there are selling in just 15 days.
Camden South and Mount Vernon are also seeing high turnarounds.
The Central Coast is another area performing well, with houses in Forresters Beach being snapped up in just 20 days -- for an average price of $1,183,500.
Pockets of the Sutherland Shire are also gaining popularity. Jannali apartments are selling in only 18 days, for an average price of $645,000. While in Illawong, the average unit is selling in 20 days, for $887,500.
North Bondi and Artarmon are also boasting strong results. Chief Economist at realestate.com.au, Nerida Conisbee says it's unusual but could be due to the high number of auctions in those areas.
"North Bondi and Artarmon really stand out to me, because they are in Sydney and they are really expensive suburbs. But people are snapping up these properties in these suburbs, before auction," Consibee said.
The average period from listing to purchase in Sydney is 40 days.
The fastest selling suburbs results, released by realestate.com.au, are based on data collected between November 2017 - April 2018.
The findings come as Core Logic releases property data, showing a drop in auction clearance rates across the country.
A preliminary combined capital city clearance rate of 61.0 percent was recorded on the weekend, down from 63.5 percent the week before.