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Properties in Melbourne’s outer suburbs recorded the shortest timeframe between being listed and sold, according to new data.
Real Estate Institute of Victoria research found that the median sale period for properties in Croydon South was just 18 days during the 12 months to 31 August 2014.
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That compared to a Melbourne average of 42 days.
Nearby Croydon Hills and Kilsyth South were also in demand, with properties selling within 19 days.
Other popular suburbs in Melbourne’s outer east include Ringwood East, Kilsyth, Bayswater North, Ringwood North and Upwey, which all sold within three weeks.
To the north west of the CBD, Albion recorded an average of just 20 days on market.
Albion also recorded the greatest annual change in days on market, with a drop of 61 days from August 2013 to August this year.
These statistics were based on private treaty sales, which make up about 66 per cent of all sales in Melbourne.
[Related: Melbourne sets house price record]
