Where are houses selling fastest in 2021?

The crazed levels of buyer demand we've seen this year have completely transformed market conditions in many suburbs around Australia when compared to the cautious atmosphere of 2020. 

Using the metric of Days on Market (DOM)—the average amount of time a property stays listed on the market before it sells—we've taken a state-by-state look at where houses are being snapped up the quickest. 

Find out which have been the hottest markets in your area for 2021. 

New South Wales

Much of this year's property boom has been led by the Sydney and NSW regional markets, with prices soaring more than 20 per cent and buyer demand reaching fever pitch. 

That's seen houses in dozens of suburbs selling at more than double the pace they were in 2020. 

In beachside hotspot Bronte, houses were typically taking close to two months to sell in August 2020. One year later they were being snapped up in less than 20 days. 

In Western Sydney, Werrington Downs homes took an eye-watering 6 days to be sold, three times quicker than they were 12 months prior. 

Houses in Eschol Park, Winston Hills, Winmalee and Kellyville Ridge were also in the single-digit DOM range. 

The 'race for space' mentality brought on by the pandemic saw regional NSW markets surging too, with areas all over the state experiencing staggering demand. 

Woodberry in the lower Hunter Valley region was one spot that demonstrated this trend, with houses selling more than four times faster than they had 12 months prior.

Note: the above data does not include sales made at auction. DOM for 2021 is taken at 31/08/21, DOM for 2020 is taken at 31/08/20. All sales refer to houses only and all suburbs must have had more than 10 sales within a three month period.

Victoria

By now it's widely known that Melbourne has endured more days of lockdown than any other city in the world, and that's caused all kinds of disruptions to Victorian real estate. 

With so much pent-up demand on both the supply and demand sides of the aisle, the way the second half of 2021 has played out has been particularly interesting, and in many suburbs the days on market metric has tumbled. 

Even in the middle of Melbourne's sixth lockdown, houses across the city were being purchased at rapid rates by highly motivated buyers who often would commit to the transaction sight unseen.

Houses in Hurtbridge lasted an average of just 8 days on the market, down from more than 22 days in August 2020, and suburbs like Chelsea Heights, Cobblebank and St Helena saw similarly large drops. 

Many regional areas saw even more substantial falls in DOM as buyers have continued to look outside of the capital to find affordability and space. 

Charlemont on the outskirts of Geelong was one suburb that experienced a drastic reduction in time spent on the market. Houses were typically purchased in 50 days in 2020; that fell to just 13 days this year. 

Note: the above data does not include sales made at auction. DOM for 2021 is taken at 31/08/21, DOM for 2020 is taken at 31/08/20. All sales refer to houses only and all suburbs must have had more than 10 sales within a three month period.

Queensland

The Sunshine State has benefited from a huge wave of interstate migration since the beginning of the pandemic, and as a result we've seen houses selling at a blistering pace. 

Demand for Brisbane homes has continued to rise, with prices surging and days on market plunging. 

Houses in Moggill in the city's west saw an almost fivefold increase in the rate at which they were sold, while other suburbs like Eatons Hill, Logan and Alexandra Hills all demonstrated a similar effect. 

Regional Queensland has also flourished, especially in the state's southeast. 

In the Ipswich suburb of Gailes, houses sold a remarkable 6 times faster than they had 12 months prior, while Mount Coolum, Centenary Heights and Mudgeeraba all had a DOM figure in the single digits. 

Note: the above data does not include sales made at auction. DOM for 2021 is taken at 31/08/21, DOM for 2020 is taken at 31/08/20. All sales refer to houses only and all suburbs must have had more than 10 sales within a three month period.

Western Australia

Having been particularly isolated from the rest of the country due to WA's covid restrictions, price growth in Perth has stalled in the second half of 2021.

Even so, there are a number of locations where houses are still shifting at an incredible rate. 

Homes in Hillman in the city's south were staying on the market for an average of 50 days before sale at the end of August, 2020. 12 months later that number has plunged down to just 6 days. 

Shenton Park and Padbury found themselves in the single digits for DOM too, while houses in Lesmurdie and Eden Hill were also experiencing heightened demand. 

Note: the above data does not include sales made at auction. DOM for 2021 is taken at 31/08/21, DOM for 2020 is taken at 31/08/20. All sales refer to houses only and all suburbs must have had more than 10 sales within a three month period.

South Australia, Tasmania and ACT

Adelaide's house price growth this year has been to the tune of nearly 20 per cent, but it's still seen as an attractive and affordable option compared to most other capital cities, and that's evident in how quickly houses are shifting. 

DOM has more than halved in just 12 months in a number of suburbs including Vale Park in the city's northeast and Woodville South in the northwest, with steep reductions seen elsewhere. 

Over in Tasmania, where annual house price growth is approaching 30 per cent, the market continues to tighten as low stock levels are met with ever-increasing demand. 

There are plenty of suburbs where DOM is down well into the single digits, showing that the fight for mainlanders especially to get their hands on Tasmanian houses is still incredibly fierce. 

It's a similar dynamic in the ACT, with demand consistently outstripping supply and driving prices ever higher over the past 18 months. 

While houses remain on the market longer than they do in states like Tasmania, the rate at which they're selling has still sped up substantially, with DOM being cut in half in suburbs like Higgins and Rivett. 

Note: the above data does not include sales made at auction. DOM for 2021 is taken at 31/08/21, DOM for 2020 is taken at 31/08/20. All sales refer to houses only and all suburbs must have had more than 10 sales within a three month period.

What can sellers expect in the near future?

While this year has served up hot market conditions across most of the country, there are signs that things have been shifting over the past month. 

As lockdowns have ended in Sydney, Melbourne and Canberra, pent-up listings have rapidly come onto the market, pushing total stock levels up and easing buyer demand. 

Agents in those cities aren't seeing the kind of fierce competition that has become a hallmark of 2021, and prices are beginning to level off, leading to suggestions that we may finally be approaching the market's peak. 

Of course, every market is different, and what happens in one suburb, city or region may be very different to what plays out elsewhere. 

It's important to research your local market and seek professional advice. Speaking to a top agent in your area is one of the best ways to find out exactly where you stand if you're considering selling. 

For now, though, it still looks to be a seller's market across most of the country.