Are you thinking of selling? Get on board…. Pricing levels have increased for a third month in a row and the demand for dwellings has increased in the past two months. Why? Data reveals a significant decline in housing supply accompanied by a surge in demand. This trend is particularly notable in Sydney's eastern suburbs, including Bondi Junction, Bronte and the iconic suburb of Bondi, offering a prime opportunity for sellers to capitalise on the market dynamics.
PropTrack data indicates that the supply-demand imbalance is prevalent in various suburbs across Sydney, but the eastern suburbs stand out as a hotspot for sellers. Among the top Australian suburbs with the largest discrepancy between buyer enquiries per listing (EPL) and listing volumes, a significant number can be found in this coveted region.
Eastern Suburbs
For instance, Bondi Junction, Bondi and its neighbouring areas, demand is outstripping supply, creating favourable conditions for sellers. With limited available stock and an influx of interested buyers, the eastern suburbs present an excellent opportunity to fetch competitive prices for properties.
Specifically, suburbs such as Bondi Junction, Bondi, Bondi Beach, Bronte, Rose Bay, Paddington, and Vaucluse have witnessed a decrease in listings ranging from 30% to 50% compared to the previous year. Simultaneously, buyer enquiries per listing have increased by as much as 160%, highlighting the high demand for properties in these sought-after locations.
A Shortage?
There is a significant shortage of available properties in the eastern suburbs. Reduced vendor competition in the area is highly advantageous, especially if you are looking to achieve a great outcome.
As the property market in Sydney's eastern suburbs continues to experience a shortage of stock and a surge in demand, buyers are encouraged to act swiftly. This is a prime opportunity for individuals interested in selling their properties in Bondi Junction, Bondi, Bronte and neighbouring suburbs to maximize their returns.
If you are a seller in the eastern suburbs, now is the time to take advantage of the favourable market conditions. Reach out to us - Wills Property, to discuss the best strategies for selling your property.
Don't miss out on the chance to secure an excellent deal in Sydney's property market. Act now and connect with trusted real estate professionals to navigate the selling process smoothly and achieve optimal results in the highly sought-after eastern suburbs.
Get in contact now at: John@willsproperty.com.au