Top buyer's markets: Sydney suburbs savvy home seekers should target to get most choice

A surprising report has revealed the Sydney suburbs where home buyers have the best opportunities to negotiate prices and find properties that tick all the boxes.

Frustrated homeseekers who have become used to battling with other buyers for the tiny selection of available properties in their suburb are in for a welcome surprise.

Sydney listing numbers – which were last year at a record low – have climbed by nearly a third and are now above the decade average.

It’s given property hunters an unusually high number of properties to choose from and increased the odds of spring buyers finally finding the holy grail of real estate: a home that ticks all the boxes.

More listings have also raised the prospect of getting a bargain as property sellers are in a position where they have to compete to attract buyers, not the other way around.

Home buyers are particularly spoiled for choice in the St George suburb Beverly Hills, where PropTrack data revealed the supply of properties currently up for sale is quadruple what it was at this time last year.

More homes for sale has meant less pressure on home buyers to make snappy decisions. Picture Gaye Gerard

There was a similar increase in eastern suburbs enclave Woollahra and Kincumber on the Central Coast, while Mount Annan and Bligh Park had the biggest rise in listings across Greater Western Sydney.

PropTrack economist Angus Moore said the abundance of listings in these areas was “very good news” for anyone seeking out a home.

“With more choice you are more likely to find something that’s got everything you want,” he said.

“It also means you will probably be up against fewer buyers. The chances of you running into a competitive situation where there is a huge level of interest on properties you like is diminished.”

Mr Moore said there was no theme in the suburbs with the biggest surge in listings.

“The listings increase is really happening everywhere,” he said.

“There is no one particular area where we see it more than others. It’s been across the board and that’s quite unusual for Sydney, at least compared to what we’ve seen in previous years.”

Mr Moore said two main forces were improving the amount of choice for buyers in most suburbs: more homeowners were putting their properties on the market, but listings were also taking longer to sell.

This was the opposite climate to last year when few homeowners were listing and buyers were snapping up anything that came on to the market in record time.

With more choice on offer, buyers are in the driver’s seat in most sale negotiations. Picture: Sam Ruttyn

Cooley Auctions director Damien Cooley said the greater choice for buyers was having a strong influence on price negotiations.

“Buyers are in the driver’s seat in most negotiations,” he said, adding that there was one exception.

“If it’s the best home in the suburb, something that rarely ever gets listed, it will attract more competition from buyers,” he said. “The really exceptional properties sell well in any market.”

Don’t miss our special SPRING MARKET REPORT in the Saturday Telegraph this Saturday August 27 and in The Sunday Telegraph this Sunday August 28 and online.