“1.3 per cent of the 818,000 properties across Perth are listed for sale, however when take a closer look, 95 suburbs have listing levels below this. While some of these suburbs have marginally less choice than the overall Perth average, others have significantly less,” Mr Groves said.
Reiwa.com data shows Nedlands and Greenwood are the most undersupplied suburbs in Perth, with just 0.4 per cent of housing in their respective areas available for sale. Heathridge, Ocean Reef and City Beach follow closely with 0.5 per cent.
Of the 95 undersupplied suburbs, 45 have less than one per cent of their homes for sale.
“The recent narrative surrounding the Perth property market is that we have abundant listing stock, but we have found that whilst some suburbs provide buyers with plentiful choice, a substantial proportion do not,” Mr Groves said.
Further analysis of Perth’s 15 most undersupplied suburbs found all but one had significantly faster average selling days than the Perth average.
“Across the metro area, it takes 72 days to sell a home, but in Perth’s undersupplied suburbs, buyers are snapping up properties in places like Heathridge, for example, in as quickly as 29 days. It’s apparent there is stronger buyer demand in those suburbs with fewer listings,” Mr Groves said.
“Home owners in these undersupplied suburbs who are thinking of selling are in a very good position. With less stock to choose from, buyers have more competition, meaning there is a better chance for sellers to achieve a quicker sale at a competitive price in these markets.”
Perth’s 15 most undersupplied suburbs:
