Shocking Undersupply of Stock, Extraordinary Amount of Demand: Optimal Conditions for Sellers.
As property prices cool down across the northern beaches compared to the previous year, recent findings reveal an interesting trend: certain suburbs are experiencing a significant drop in supply while demand skyrockets. This imbalance in the competitive northern beaches market suggests that sellers in these areas have a fantastic opportunity to fetch attractive prices for their properties. Lets take a look into the details of these finding and explore the suburbs where supply has plummeted as demand continues to surge.
Stock levels have become a critical issue across the country, primarily due to rising interest rates and market uncertainty. The apprehension faced by potential sellers is further compounded by the scarcity of available properties on the market. This combination of factors has contributed to their reluctance in making a move, as they weigh the potential risks against the rewards.
While overall buyer appetite has softened, there are exceptions to this trend. According to data from PropTrack, several suburbs on the northern beaches are witnessing a remarkable disparity between demand and supply. These areas are experiencing an overwhelming amount of buyer enquiries compared to the number of listings available.
Suburbs Where Demand Outstrips Supply: Among the top ten Australian suburbs with the most significant difference between buyer enquiries per listing (EPL) and listing volumes, a staggering 4 of them are located in Sydney’s Northern Beaches. Here are the suburbs and their respective changes in listings and EPL over the year:
North Curl Curl: -50% change in listings, 93% change in enquires
Allambie Heights: -45% change in listings, 129% change in enquires
Freshwater: -40% change in listings, 143% change in enquires
Belrose: -43% change in listings, 85% change in enquires
These findings highlight North Curl Curl as the suburb with the most significant gap between low supply and high demand.
For vendors seeking optimal conditions, the current real estate landscape presents a promising opportunity. Suburbs experiencing a significant surge in demand and a simultaneous decline in supply hold the potential for sellers to secure impressive returns.
For buyers looking to enter the market, working with a leading buyers agent like MacKenzie Buyers Agency could mean the difference between buying a property or being priced out of the market in the coming twelve months. With access to 53% more stock than properties listed online gives buyers the upper hand when trying to secure their next home.
Contact Aaron Downie at: aaron@mackenziepropertygroup.com.au or +61 431 148 187.
