Tasmania had eight of the ten fastest selling localities for houses in 2018
Tasmania held eight of the top ten spots for localities with the shortest days on market for houses, according to the latest analysis by RiskWise Property Research.
Their research showed that the top spots were held by Lutana, a localitiy of Hobart 6km from the CBD, and Mornington, only 7km from the CBD, which both had an average of six days on market before sale for houses.
The only localities on the list that weren't from Tasmania were Shenton Park, WA which is only 4km from the Perth CBD which placed 6th with seven days on market.
The number 10 spot which was held by Castle Cove, NSW, located 11km from the CBD houses in Castle Cove delivered a capital growth of 0.7 per cent in the past 12 months and the average time on market was 8 days for houses.
Compared to the Australian average number of days on the market which sits at 43 even houses in the tenth place were sold more than 5 times faster.
RiskWise CEO Doron Peleg said the list was made up of high-demand postcodes.
However, he said it must be noted that while the localities in Tasmania were incredibly popular, they were not ‘the entire market’ which was still decelerating.
“However, while these reductions are not surprising given Tasmania is less affordable than five of the states and territories (in price-to-income ratio) terms, the market supply is very small, so this will continue to drive some price.”
Mr Peleg said the list highlighted the age-old saying of ‘location, location, location’ or if you don’t have that then having something else special to offer whether that is lifestyle, good schools, access to transport hubs or infrastructure.
The 7009 postcode saw around 60 sales last year, ranging from a $168,000 two bedroom 1950s flat rented at $210 a week to $605,000 for a three bedroom 1960s house then rented at $570 a week.
It has around 1200 abodes.
