Property listings are surging in these 10 regions
With the number of new listings more than doubling in certain areas, buyers might have recently found themselves with more bargaining power.
Analysis conducted by MCG Quantity Surveyors has pinpointed the 50 statistical areas with the greatest increase in property listings over the past 12 months, compared to their usual 12-month average.
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The firm broke its findings down into what the Australian Bureau of Statistics defines as “Level 3 Statistical Areas” because they are generally comparable to the parameters within which a property buyer will search. An SA3 is larger than a single suburb but smaller than a capital city, and it is felt to have its own regional identity.
According to Mike Mortlock, MCG Quantity Surveyors’ managing director, the findings from the firm revealed that in certain statistical areas, property hunters could be at a distinct advantage, with a 12-month surge in property listings that’s double the historic average.
“In regions like Bringelly-Green Valley and Rouse Hill-McGraths Hill, where listings have surged over 100 per cent, the market has clearly shifted in favour of buyers. This means more negotiating power and better access to properties that were previously hard to secure due to fierce competition,” he said.
He noted that savvy property hunters will use this moment to strike while the iron is hot.
“This presents a strategic moment for buyers to step in while interest rates and economic uncertainty hold some buyers back. With a more abundant market, buyers can afford to be selective and negotiate harder,” he said.
Here are the top 10 areas where property listings have surged, ranked by percentage increase:
1. Bringelly - Green Valley in Sydney’s south-west: 162 per cent increase with 1,680 new listings.
2. Rouse Hill - Mcgraths Hill in Sydney: 128 per cent increase with 814 new listings.
3. Cardinia in Melbourne’s south-east: 75 per cent increase with 931 new listings.
4. The Lower Hunter Valley: 74 per cent increase with 755 new listings.
4 (tie). Casey in South Melbourne: 74 per cent increase with 1,904 new listings.
5. Gippsland: 71 per cent increase with 1,749 new listings.
6. Blacktown in Sydney: 53 per cent increase with 860 new listings.
7. Wanneroo in Perth’s north-west: 52 per cent increase with 936,616.
8. Stirling in Perth’s north-west: 45 per cent increase with 664 new listings.
9. Inner Ipswich: 42 per cent increase with 592 new listings.
10. Wyong on the Central Coast: 42 per cent increase with 790 new listings.
10 (tie). Rockingham in Perth’s south-west: 40 per cent increase with 583 new listings.