8 of 10 fastest-selling suburbs in Sydney

When-it-comes-to-speed-the-houses-selling-in-Sydney-take-the-cake_157_75860_0_14100389_300If you’re thinking about investing in property in Sydney but are wavering on the fence, the latest developments over the month of June and the start of July could well tip you into the affirmative.

If you’re an investor holding onto a slice of real estate in the quickly growing capital of 4 million, you’ll be interested to know that the prospects of selling your property are strong in the New South Wales capital. The Harbour City was overwhelmingly over-represented in RP Data’s latest housing market update, ranking the top 10 fastest selling suburbs in Australia.

Out of the 10 suburbs ranked, Sydney made up a whole eight on the list. The only other city represented was Perth, which took out second and third place.

It’s no surprise that Sydney took out the number one spot. For the month of June, it took an average of merely 12 days for a house to be sold in the Parramatta suburb of Old Toongabbie, a western Sydney suburb.

Indeed, the quickly growing region of Western Sydney was prominent in the list. Six of the eight listed suburbs were located in either western or north-western areas of the city, with dwellings taking between 13 and 16 days to sell. Some of these suburbs included Parklea, Quakers Hill and Lalor Park, all located in Blacktown, as well as West Gosford and Willoughby.

These may well be good areas for investors to jump into, as well as for those holding onto property in the area and thinking about selling to finally take the plunge. With property prices steadily rising, a hefty return could well be on the cards.

These more remote suburbs are becoming increasingly popular due to rising prices in the rest of Sydney, as well as the coming infrastructure improvements which stand to simplify travel for residents who are further away. These outlying areas could be ones  to watch in the months to come.

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