Montagu Bay

<html><body>
Montagu Bay is the fastest locality for houses over the past year, according to CoreLogic’s latest report.
The property data firm for units South Penrith and Wyoming sells the fastest.
Low interest rates coupled with higher levels of demand for housing has seen property sales in some areas take off faster than in others.
CoreLogic research analyst Cameron Kusher said that given mortgage rates have fallen over recent years, certain cities, namely Sydney and Melbourne, have seen heightened demand and a rapid rate of sale for properties.
(Note - today’s analysis only calculates where there were at least 10 observations of paired listings and subsequent sales over the year and is calculated on private sales excluding properties advertised for auction due to the selling time for an auction is often better described as a marketing period that typically lasts for around six weeks.
The figure is calculated by the difference from the date at which a property is first listed compared to its contract date).
Montagu Bay in Hobart now has the shortest median days on market for houses over the past year at 5 days.
For units, South Penrith and Wyoming in Sydney has the shortest median days on the market at 7 days.
The most obvious trend is that the majority of suburbs listed are within capital cities. This is generally the case across each state and territory.
The CoreLogic analysis highlights that housing market conditions are generally stronger in the capital cities than they are in regional areas.
Mr Kusher said, “In most instances, the suburbs that are not in capital cities are located in regions close to the capital city, highlighting how housing demand has rippled outwards from the capital cities as prices rise.”
Although Sydney and Melbourne have grabbed the headlines over recent years for their comparatively strong rates of capital growth, in other capital cities there are suburbs experiencing a very rapid rate of sale.
For example, Brisbane values have increased by less than 5% over the past year but each of the suburbs listed for houses have a median days on market figure of less than 20 days.
Mr Kusher said, “With mortgage rates and the number of properties available for sale remaining low we would anticipate that the current rapid rate of sale in Sydney, Melbourne, Hobart and Canberra will remain low, however there have been some early signs that stock levels are starting to rise which may lead to an easing in the perceived urgency to buy across some markets.
“Outside of these areas, suburbs in sought after locations with relatively low stock available for sale are also likely to see transactions occurring at a fairly rapid pace, especially if vendors ensure that they are setting realistic initial listing prices.”
A three bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-wyoming-125219030" target="_blank">11/12-20 Kinarra Avenue</a>, Wyoming (above) was sold in April this year for $428,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-wyoming-123534226" target="_blank">63 Jarrah Drive</a>, Wyoming (below) was sold in March this year for $215,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/08/63%20Jarrah%20Drive.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Where are Australia's fastest selling suburbs? CoreLogic

<html><body>
<div>
Tasmania is home to the fastest-selling suburb in the country, according to figures from CoreLogic.
</div>
Houses in Montagu Bay on Hobart’s Eastern Shore take just five days on average to find a new owner.
Mount Stuart is knocking right on Montagu Bay’s door with its average of a mere six days.
The suburbs nationwide that came closest to the Usain Bolt-like pace of these Hobart suburbs were Victoria’s Tooradin (eight days) and Lapstone in New South Wales (nine days).
The only catch in Montagu Bay is the low number of houses available to buy. Just 13 sold in the 12 months to January 31, says RP Data.
This past week there were just two houses on the market in Montagu Bay.
Tasmania’s next fastest-selling suburbs throughout this period have been Moonah and Warrane (eight days) and North and South Hobart (nine days).
<a href="https://www.propertyobserver.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%2010.10.14%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/08/Screen%20Shot%202017-06-08%20at%2010.10.14%20am.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%2010.10.37%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/08/Screen%20Shot%202017-06-08%20at%2010.10.37%20am.jpg" alt="">
For units, South Hobart was the fastest suburb with an average of 10 days on the market before being sold.
One example of taking a different route is Hobart agency Knight Frank.
With the Hobart market running hot, Knight Frank prestige property specialist Pam Corkhill said their approach was to post signs at open homes informing potential buyers that offers will not be presented to a homeowner that day, but rather in a couple of days’ time.
She said instead of selling a house as quickly as they could, the idea was to give people the opportunity to pause, consider their options, or even to get their finances together before proceeding.
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-montagu+bay-125111334" target="_blank">2 Rosny Esplanade</a>, Montagu Bay (above) was recently sold in May this year for $455,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-montagu+bay-124643358" target="_blank">24 Loinah Crescent</a>, Montagu Bay (below) was recently sold in May this year for $510,000.
It was last sold in 2009 for $460,000 and the land was sold in 1992 for $138,000 with the property built in 1993.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/29/24%20Loinah%20Crescent.jpg" alt="">
</body></html>

Montagu Bay

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Montagu Bay

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News