Montagu Bay Tasmania's fastest selling suburb: CoreLogic

Montagu Bay Tasmania's fastest selling suburb: CoreLogic
Montagu Bay Tasmania's fastest selling suburb: CoreLogic

Tasmania is home to the fastest-selling suburb in the country, according to figures from CoreLogic.

Houses in Montagu Bay on Hobart’s Eastern Shore take just five days on average to find a new owner.

Mount Stuart is knocking right on Montagu Bay’s door with its average of a mere six days.

The suburbs nationwide that came closest to the Usain Bolt-like pace of these Hobart suburbs were Victoria’s Tooradin (eight days) and Lapstone in New South Wales (nine days).

The only catch in Montagu Bay is the low number of houses available to buy. Just 13 sold in the 12 months to January 31, says RP Data.

This past week there were just two houses on the market in Montagu Bay.

Tasmania’s next fastest-selling suburbs throughout this period have been Moonah and Warrane (eight days) and North and South Hobart (nine days).

Click to enlarge

Montagu Bay Tasmania's fastest selling suburb: CoreLogic

Click to enlarge

Montagu Bay Tasmania's fastest selling suburb: CoreLogic

For units, South Hobart was the fastest suburb with an average of 10 days on the market before being sold.

One example of taking a different route is Hobart agency Knight Frank.

With the Hobart market running hot, Knight Frank prestige property specialist Pam Corkhill said their approach was to post signs at open homes informing potential buyers that offers will not be presented to a homeowner that day, but rather in a couple of days’ time.

She said instead of selling a house as quickly as they could, the idea was to give people the opportunity to pause, consider their options, or even to get their finances together before proceeding.

A two bedroom house at 2 Rosny Esplanade, Montagu Bay (above) was recently sold in May this year for $455,000.

Similarly a four bedroom house at 24 Loinah Crescent, Montagu Bay (below) was recently sold in May this year for $510,000.

It was last sold in 2009 for $460,000 and the land was sold in 1992 for $138,000 with the property built in 1993.

Montagu Bay Tasmania's fastest selling suburb: CoreLogic

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