Stock shortage (?)
There's a lot of talk about there being very little stock on the market at the moment, especially in Sydney.
There's a lot of talk about there being very little stock on the market at the moment, especially in Sydney.
It's all a bit of a dichotomy, to be fair.
Take a look at the Hills District, for example, where there remains a mountain of stale and unsold inventory, in spite of a recent modest improvement.
Source: SQM Research
Hardly much of a pressure cooker market out there just yet, and parts of Western and South West Sydney exhibit similar trends.
Where, then, are the stock levels tight?
Parts of the Eastern Suburbs, and especially the Northern Beaches, where stock listings are threatening to sink to multi-decade lows.
And don't forget Sydney is growing by close to 100,000 per annum too, so there are more potential buyers around, and thus stacks of pent-up demand.
And don't forget Sydney is growing by close to 100,000 per annum too, so there are more potential buyers around, and thus stacks of pent-up demand.
Increasingly, too, there is a dearth of good quality stock on the lower north shore.
Source: SQM Research
Suburbs such North Sydney and Neutral Bay have seen stock levels tightening a bit of late.
The lower north shore recorded a perfect 100 per cent clearance rate last weekend - at least in the preliminary figures - so where will there be a spurt of price growth next?
Take look at Wollstonecraft where, excluding properties under offer, there are just half a dozen properties listed for sale across a smattering of forthcoming auctions.
That could easily be the recipe for some 7-figure sales as buyers come surging back into the market with increasing levels of urgency.
This also makes it an exceptionally tough environment for prospective buyers.
In adjacent Waverton and Kirribilli there are even fewer listings.
I looked at exactly why there are so few new listings here.
I looked at exactly why there are so few new listings here.
