Suburbs Where Homes are Selling Fastest this Spring

If you want a house in one of these Brisbane suburbs, you better move quick.

Demand is so strong in some pockets of the city this spring selling season, at least one house sells every day of the year on average — and real estate agents are struggling to keep up.

On Brisbane’s northside, Wavell Heights, McDowell, Keperra, Gaythorne, Geebung and Chermside have been identified as some of the suburbs where houses are selling the fastest.

Fitzgibbon, Mansfield, Wishart and Seven Hills are among the most in-demand locations for buyers on the southside this season.

Tristan Rowland of Place Estate Agents said homes were selling like hot cakes in Wavell Heights.

“I can’t hold onto them,” he said.

“Two weeks max and they go out the door.”

The median house price in Wavell Heights has jumped nearly 20 per cent in the past three years, according to property research firm CoreLogic.

“It’s really gentrified,” Mr Rowland said.

“It’s become Clayfield 2.0.”

Mr Rowland said the suburb attracted a mix of demographics, including people who wanted to live close to the airport, high income earners including professionals, manufacturing workers and the medical fraternity.

“There are a lot of post-war houses being knocked down and big contemporary homes being built. It’s a knock down, build brand new market.”

A little further north, the suburb of Geebung is also attracting buyers because of it’s proximity to Wavell Heights and the redevelopment of Westfield Chermside shopping centre.

“Geebung’s so affordable,” Mr Rowland said.

“Only a year ago we were selling renovated knockdowns for in the early $400,000s. The other day I sold one for mid-$500,000s.”

He said the Chermside house market was also “very strong” because of its affordability, the shopping centre and its proximity to hospitals.

Greg and Gabrielle Townsing have put their family home at 39 Fordham Street, Wavell Heights, on the market to move closer to the school their four children attend.

Mr Townsing said it was historically a good time of year to sell and the family was staying in the area.

“It’s got a nice feel to it, not too far from the city, and it’s got good transport options in terms of major roads,” he said.

According to CoreLogic, houses are selling the fastest in Keperra, 12km north west of the Brisbane CBD, where the median time on market for houses is 11 days.

Christine McKay of Harcourts Solutions said many older homeowners in the suburb were selling to a younger generation.

“Keperra is an old suburb,” she said.

“The majority of people have lived here 40 to 60 years. Now, they’re selling to a new generation.”

On Brisbane’s southside, James Curtain of Place Estate Agents is seeing houses snapped up the fastest in suburbs like Seven Hills, Wishart and Mansfield.

“There’s no doubt suburbs like Seven Hills are performing very well,” he said.

“I think one of the reasons why is it has lagged behind surrounding suburbs and is often forgotten.

“It’s right on the Norman Park border, it’s elevated, has an emerging cafe society and many luxurious homes under construction.

“We’ve sold four homes in past month in and around the $1.6 million mark there.”

In Wishart, 12km from the CBD, the median price is now $701,250 — 40 per cent higher than it was just five years ago.

“We’re getting 50 to 60 groups through Wishart homes and they’ve sold very quickly and pushed beyond the expected price point,” Mr Curtain said.

He said the suburb was piggy backing off the growth of the inner-city suburbs of Coorparoo and Holland Park.

“It’s the next wave. When you look at its fundamentals, it’s got good schools, access to the motorway and is good value.”

Mr Curtain said houses were also selling quickly in Mansfield, which fell into a similar category to Wishart and was benefiting from the growth in Carindale.

CoreLogic head of research Cameron Kusher said the fastest selling suburbs were generally close to the city, but more affordable.

“They probably haven’t been the most desirable suburbs historically but people are coming around to fact they’re close to city and have good public transport, so we’re seeing a bit of gentrification in those areas,” he said.

Mr Kusher said many of the most in-demand suburbs had post-war houses with the potential for renovation on larger blocks.

“I think there’s still some good opportunities in those markets.”

BRISBANE’S 10 FASTEST SELLING SUBURBS

Suburb Average days on market

KEPERRA 11

FITZGIBBON 13

MANSFIELD 15

BOONDALL 15

FERNY HILLS 16

ALBANY CREEK 16

GAYTHORNE 16

CHERMSIDE WEST 17

PETRIE 17

GEEBUNG 17

Credit: Realestate.com.au