You’ve got to be quick in suburbs

AUSTRALIA’S fastest selling property markets are all suburbs of Hobart.

Latest figures from CoreLogic have revealed homes in Mornington, Goodwood, West Moonah and Lenah Valley are sold, on average, in just six days on the market.

In figures for the 12 months through to the end of June, CoreLogic recorded doubledigit median price growth in each of these areas of between about 18 and 22 per cent.

Houses in West Moonah recorded the most sales in the year-long period (59) alongside Mornington houses (35), Goodwood houses (19) and Lenah Valley units (34).

The median asking rent in these areas spans from $338 per week in Lenah Valley up to $390 in West Moonah.

Lennard McLure director John Lennard described Lenah Valley as the “last affordable Hobart city suburb”.

He said neighbouring areas like New Town, Mount Stuart or West Hobart would struggle to compare to the value on offer in Lenah Valley.

“Lenah Valley is just minutes from the city centre — it offers everything a home- owner could desire including major supermarkets, chemists, doctors, hairdressers, cafes and parks,” he said.

Mr Lennard said the pace of the Mornington, Moonah and Goodwood markets would in part be driven by investors.

“Investors are very active in areas where good value homes are still available,” he said.

Homeowner Denise Garcia recently bought two investment properties in Lenah Valley, a house and a unit.

Her daughter and son-inlaw have also bought and sold in Lenah Valley.

Ms Garcia said a number of things attracted her to the sub- urb and she can see herself living in Lenah Valley when she retires.

“It has lots of parks, walks, state and private schools, cafes and mountain views,’’ she said.

“It is a good value area, it’s green, it’s flat and easy to get around.”

Just one interstate suburb can claim a place on the sevenday selling market, Leederville in Perth.

Bellerive, Howrah, Warrane, Lutana, Mount Stuart and North Hobart houses are all averaging sales in seven days while in the unit sector, Lutana and West Moonah are also ticking along at that speed.

At eight days on the market, 15 more Greater Hobart suburbs join the list alongside two in Melbourne.

While winter property market reports have hinted at a slowing of the Hobart housing sector, REIT acting president Adrian Kelly said there were still signs of how strong the local market is.

He said properties were still attracting multiple offers and open home attendances were very strong.

“It is not a surprise that a few properties are taking a bit longer to sell as we have all become used to sales in just a few days,” he said.