Where Are The Hottest Selling Suburbs Across Australia?
Pakenham is the hottest selling suburb across Australia’s capital cities with the highest number of property sales in the past twelve months according to recent data from CoreLogic.
Pakenham in Victoria is located 52.9 km south east of Melbourne on the edge of the West Gippsland region. Pakenham sold a total of 1,242 properties. The median sales price for houses in Pakenham is $495,000 – a change of 20.7% over the past 12 months.
The second hottest selling suburb is Point Cook, 21.3 km from Melbourne. Over the past 12 months Point Cook had 897 sales out of its total 14,352 houses. The median sales price in Point Cook is now $636,000 and saw a 13.7% higher than 12 months ago.
Adelaide, the capital of in South Australia had 872 property sales over the past 12 months out of a total of 8,823 properties. Adelaide has a median sales price of $489,400 and showed a 13.8% change in median sales price in the past 12 months.
The hottest selling capital city suburbs list comes from CoreLogic’s Market Trends data set which provides insights across more than 150 data points for houses and units across every suburb every month throughout Australia.
Out of the 10 identified hottest selling suburbs in the capital cities, eight of them are in Victoria with only one in South Australia and one in New South Wales. Adelaide from South Australia was the third hottest selling suburb of the capital cities and Parramatta in New South Wales is the ninth hottest selling suburb. Parramatta sold 667 properties in the last 12 months out of 13,590 total properties. Parramatta saw a 0.2% change in median sales price in the last 12 month and has a median sales price of $651,340.
The lowest number of property sales across the list was 652 in Hoppers Crossing in Victoria.
The median sales prices of the suburbs ranged from $483,750 in Werribee, Victoria being the lowest to $689,000 in Berwick, as the highest. The lowest median sales price is in Werribee in Victoria and the highest is in Berwick in Victoria.
Eight of the top ten hottest selling suburbs were housing property markets while the other two were for unit property markets.
Head of Marketing, Property Services and Content
Kylie Davis is the Head of Property Services and Content Marketing at CoreLogic.
Published: 28 May 2018.