Top Melbourne ‘blink and you’ll miss it’ suburbs

When we look at house prices and trends, we generally look at average prices as whole across a city, and you don’t see the highs and lows of the average at a suburb level.

So while property prices have been falling as a whole in Melbourne, if we burrow down we can find out the little pockets where demand is still strong and houses are still being snapped up quickly.

In these suburbs, competition from buyers remains strong despite the overall downturn, and houses are selling almost as soon as they hit the market.

Rising interest rates have quelled demand from buyers in recent months, and it has seen the average time property takes to sell across Australia slip out to around 50 days in October.

But there’s always suburbs to look for that are bucking the trend. When it comes to houses, they mostly in more affordable areas on the fringes of metro areas, while units tend to sell fastest in areas closer to the city, beaches, rivers, and retail/hospitality venues.

The time property takes to sell on the market is expected to keep drifting while rates keep rising, inflation stays high and wages grow at a slower rate, but don’t expect things to slow down too much in these top 8 hot suburbs compiled by, where you’ll have to act quickly to beat off the competition from other buyers.

Fastest selling suburbs – Houses             Median days on market

  1. Doreen                                            22
  2. Lilydale                                            22
  3. Abbotsford                                     25
  4. Albert Park                                      25
  5. Armadale                                        25
  6. Boronia                                           25
  7. Clifton Hill                                       25
  8. Endeavour Hills                              25

Fastest selling suburbs – Units                 Median days on market

  1. Chelsea                                           23
  2. Carrum Downs                               24
  3. Edithvale                                         25
  4. Fitzroy                                             25
  5. Bentleigh East                                26
  6. East Melbourne                             26
  7. Nunawading                                   26
  8. Brighton East                                  27          


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