Brighton’s listings surge makes bargains more likely.
New property listings are at a decade high in major cities, with PropTrack data revealing buyers are spoiled for choice and primed to bag a bargain in a number of markets across Australia. But none are more primed than in 30 golden postcodes.
PropTrack senior analyst Karen Dellow said that at a national level, there had been a 21 per cent rise in listings from September to October, led by Melbourne, with a whopping 33 per cent increase seeing its busy spring market click up another gear.
Adelaide was the next strongest with a 26 per cent monthly increase, followed by Brisbane (15 per cent) and Sydney (13 per cent).
Caulfield is one of Melbourne’s suburbs of choice.
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“October has proven to be a prime month for homebuyers, with new property listings reaching their highest level in over ten years, affording buyers more choice,” Ms Dellow said.
“Across the board, every capital city and regional market experienced a rise in new listings over the month (which) should help ease competition and allow buyers more time to make informed decisions.
Nationally, new listings were up 14 per cent from this time last year, the data revealed.
MELBOURNE
“Buyers seeking a wealth of options should focus on Melbourne – Inner and Melbourne – West, where the highest volumes of new listings were concentrated in October,” Ms Dellow said.
“Melbourne’s South East, encompassing suburbs such as Caulfield, Carnegie and Bonbeach, experienced the largest month-on-month growth (at) 64 per cent.
“Following closely was Melbourne – Outer East, covering areas like Ferntree Gully, Rowville and Healesville, where new listings were up by 47 per cent.
“Across metro Melbourne, house listings have seen the most substantial growth in new listings compared to the previous month, rising by 38 per cent, compared to a 26 per cent increase for units.
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Karen will be happy, because Brighton has choice for buyers.
“In Melbourne – Inner South, areas including Brighton, Hampton and Bentleigh saw new house listings more than double in just one month, and Melbourne – Inner East witnessed a 56 per cent increase.”
Unit listings in Melbourne – Inner South and Melbourne – Outer East, both grew by 39 per cent.
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SYDNEY
In Sydney, the most choice for buyers could be found in the North Sydney and Hornsby region, plus the inner south west, Ms Dellow said.
“In Sydney – Ryde, areas including Hunters Hill, Tennyson Point, and Cheltenham saw new house listings increase by 52 per cent in just one month,” she said, while “Sydney – Northern Beaches witnessed a significant 44 per cent increase.
“Northern Beaches suburbs such as Manly, Freshwater, and Mona Vale, experienced the largest month-on-month growth in new listings (at) 30 per cent,” she said.
“Sydney – North Sydney and Hornsby, covering areas like Lane Cove, Cremorne, and Crows Nest (saw) listings up 29 per cent.”
For units, North Sydney and Hornsby (20 per cent) and Blacktown (18 per cent), had the highest increases.
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Cheltenham houses have entered the market in big numbers.
ADELAIDE
Adelaide – North had the highest volume of new listings in October, while at a suburb level, western suburbs such as Tennyson, Henley Beach, and Grange experienced the largest growth in new listings at 51 per cent.
Across metro Adelaide, house listings rose by 35 per cent, compared to just 7 per cent for units.
Adelaide – West saw new house listings rise 58 per cent, while the central and hills areas had a 36 per cent increase.
Unit listings in Adelaide – West grew 34 per cent, while Adelaide – South had a 26 per cent increase.
“Elevated interest rates and increased choice have contributed to a slowing in the pace of price growth in Adelaide compared to earlier in the year,” Ms Dellow said.
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Henley Beach had 51 per cent growth in month on month listings.
BRISBANE
Brisbane buyers had the most options in the Brisbane Inner City and Logan – Beaudesert areas for October.
Moreton Bay – South suburbs Camp Mountain, Bunya, and Mango Hill, experienced the largest growth in new listings at 34 per cent, followed by inner city neighbourhoods Brisbane Inner City, Bulimba, New Farm, and Red Hill, which were up 28 per cent.
Houses and units saw similar monthly growth in Brisbane, at 16 per cent and 15 per cent respectively.
Mango Hill is sought after and presents plenty of opportunities. Picture: Gordon Turner
“This is not the case in other cities across the country, where more houses are on the market than units, compared to last month,” Ms Dellow said.
Inner city house listings rose 44 per cent in one month, while Moreton Bay – South rose 36 per cent.
Unit listings were highest in Brisbane – East (37 per cent) and Brisbane – South (33 per cent).
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