Where are the fastest selling suburbs in Sydney’s booming housing market?

By:

The hot Sydney housing market has surged over the past month following the easing of lockdown restrictions, with waves of buyers and sellers now engaging Australia’s strongest and highest priced capital city.

Sydney houses are selling like hotcakes with the average time on market falling to just 23 days over the past month – the lowest monthly result for the year and well below the 27.6% reported during the lockdown over August.

Sydney also enjoys the fastest selling housing market of all the state capitals and well ahead of Melbourne’s 28.5 average days on market.

All Sydney regions have recorded sharp declines in the average time it takes to sell a house since lockdown restrictions eased.

The top performers are the Northern Beaches was just 18.5 average days on market before selling, closely followed by the City and East at 18.9% days on market, the Lower North Shore 20.4 and Upper North Shore 20.7.

Days On Market

Sydney’s fastest selling suburbs over the month with a minimum of 10 reported house sales are led by:-

  • Seaforth with an average of just 11.4 days to sell, followed by neighbouring…
  • Allambie Heights 12.1,
  • Glenwood and Botany each 15.3,
  • Dover Heights 16,
  • Oyster Bay and French’s Forest each 16.4,
  • Roselle 16.7,
  • Paddington 17 and
  • Five Docks with 17.1 average days on market before selling.

Record buyer competition for Sydney houses will be tested over the coming weeks with a surge of post lockdown listings set to hit the market.

New listings in Sydney have remarkably increased by 30.3% since the beginning of October to clearly the highest weekly totals of the year – with nearly 7,000 extra homes for sale hitting the market .

Hungry buyers are now set to take advantage of significantly more choices in the Sydney housing market.

And the prospect of increased lending restrictions over coming weeks will motivate buyers to get him before home loans likely become harder to secure – and more expensive.

Also read: Sydney property market forecast to grow strongly in 2021-2022

 

icon-podcast-large

Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

icon-email-large

Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


About

Dr Andrew Wilson, Chief Economist of www.MyHousingMarket.com.au is widely regarded as Australia’s leading property economist.


'Where are the fastest selling suburbs in Sydney’s booming housing market?' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts