Constitution Hill units sell fastest in nation: CoreLogic RP Data
Units within the western sydney suburb of Constitution Hill were on market an average of nine days over the past 12 months at a median price of $503,500 for the year ending April 2015.
This marks a 19.9% year-on-year change for the Constitution Hill area.
Recent suburb sales include this villa, for comparison, under offer above $585,000.
According to the CoreLogic RP Data Top 5 Capital city suburbs with the shortest days on market, the Sydney suburbs of Jannali and Heathcote, both in the Sutherland Shire came third and fourth respectively on the list under Rosemeadow.
Croydon South in Melbourne topped the Melbourne list with 21 units sold over 30 days on the market for a median of $457,000 and Herston the Brisbane list with 20 units sold over 24 days at a median of $516,000.
CoreLogic RP Data senior research analyst Cameron Kusher said with home values continuing to rise and interest rates remaining low it is reasonable to expect that homes will continue to sell relatively quickly over the coming months.
"The amount of stock for sale in most cities is lower than at the same time last year which also tends to create a level of urgency in the market for buyers," Mr Kusher said.
