Strong 2018 for local property sales

THE Real Estate Institute of Victoria’s latest Days on Market report for November 2018 reinforces the positive picture of the Geelong and Ballarat property markets.

Residential real estate in and around these towns is being snapped up faster via private sale than anywhere else in Regional Victoria.

The REIV’s data is based on 12 months of sales up to the end of November and only towns with a minimum of 20 sales are included.

Waurn Ponds topped the list with properties remaining on market for a median of 12 days before being snapped up, down from 20 days in November 2017.

Listings also secured fast results in nearby Whittington where homes were sold 18 days faster (15) in the year to 30 November compared with the same period in 2017 (33).

Third on the list was Newington where listings lasted 17 days compared with 39 in November 2017. Grovedale achieved similar results with homes being snapped up within 18 days, eight days fewer than the 12 months prior.

Rounding out the top five was Lake Gardens where homes sold within a median of 19 days.

Properties were listed for 22 days before resulting in sales in Newcomb, Bunninyong, Golden Point, St Albans Park and Wendouree.

Find out your local days on market results on the REIV website’s Market Insight page by visiting reiv.com.au/marketinsights.