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Property Here - Friday, August 02, 2013

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Belinda and John Parker with son Joel 7 in front of their new home in Camden Park.

Belinda and John Parker with son Joel 7 in front of their new home in Camden Park. Source: News Limited

HOUSES in the inner western suburb of Camden Park are selling faster than anywhere else in Adelaide, latest RP Data figures show.

The average number of days on market for a house in Camden Park is 41, compared to the wider Adelaide average of 98 days.

The suburb is located just south of the airport and has a median sale price of $435,500, a little higher than Adelaide's current median of $385,000.

Agents attribute its popularity to its location (between Glenelg and the City), price, large block sizes and development potential.

Other metropolitan suburbs with fastest-moving houses can also be found in the west and south. They include Old Reynella (45 days), Peterhead (51 days), Clovelly Park, (54 days) and Albert Park and Clarence Gardens (both 57 days), Reynella East (58 days) and Trott Park (59 days).

Some of our slowest house sellers meanwhile were in the lifestyle locations of Yankalilla (230 days), Hindmarsh Island (207 days) and Tennyson (205 days).

INTERACTIVE MAP: Fastest Selling Suburbs (houses)

How did your suburb fare?

Map key:

Lightest shade: Average days on market not available 
Light pink
: 41- 69 average days on the market 
Salmon
: 70-80 average days on the market 
Pink
: 81 -89 average days on the market 
Blue
: 90-149 average days on the market 
Purple
: 150-230 average days on the market

*Data Source: RP Data

Time on market Adelaide-wide has risen slightly in the past 12 months, with figures showing houses are on the market Adelaide-wide for 98 days and units for 97 days, compared to 93 and 88 days respectively this time last year.

REISA (Real Estate Institute of SA) president Greg Moulton, who is also CEO of Harcourts SA, said low times on market were generally an indication that houses were priced right, coupled with strong demand for the area.

"Time on market is a gage of how strong your market is,'' he said.

"The longer the time a property sits on the market, the less interest there is in the property.''

He was surprised to hear days on market were higher now that this time last year, saying the "gut feel'' of those in the industry was the market was stronger now than in 2012.

INTERACTIVE MAP: Fastest Selling Suburbs (units)

How did your suburb fare?

Map key:

Lightest shade: Average days on market not available 
Light pink
: 41- 69 Average days on the market (12 months) 
Salmon
: 71- 79 average days on the market 
Pink
: 80-89 average days on the market 
Blue
: 90-119 average days on the market 
Purple
: 120-198 average days on the market

What do agents say about Camden Park?

HARCOURTS Glenelg sales partner Jamie Thompson said Camden Park's location and affordability made it attractive to first homebuyers, investors and developers.

"A lot of the homes are in the high $300,000 to low $400,000 mark, which fits into the affordable bracket," Mr Thompson said.

Most homes were on generous blocks, he said, offering buyers the chance to subdivide or renovate.

LJ Hooker Glenelg's Paul Henry said Camden Park's variety of housing styles added to its appeal.

"Camden Park has mixed housing, with a wide range of 1950s' housing together with new townhouse developments," Mr Henry said.

"And if you look at the map, the surrounding suburbs of Glenelg East and Novar Gardens are close by and sought after, so buyers are able to sit on the coat tails of those suburbs and get the benefits without the price."

Mr Henry sold a house within five days of it being listed last week.

Longtime Camden Park resident John Parker bought his second property in the suburb this month.

He was after an investment property in a desirable location and knew his own suburb fitted the bill.

"It's close to the city, the Bay and it has good transport," Mr Parker said.

Data work: @ GregBarila



Read more: http://www.news.com.au/realestate/news/how-fast-is-your-suburb-selling-check-out-our-interactive-real-estate-map/story-fndba8zb-1226689729034#ixzz2bqAWV8FM