New South Wales offers the most favourable conditions for vendors, according to a major listings portal.
An analysis by realestate.com.au shows the top 10 suburbs in the country where supply and demand dynamics give sellers an advantage.
Balgowlah in Sydney’s northern suburbs topped the list, as well as three other suburbs from New South Wales.
Local real estate agent John Cunningham from Cunningham’s Property said the area had seen demand sky-rocket.
“There has been a significant increase in demand for property in the Balgowlah area in the last few months,” he said.
“Open homes in the suburb are attracting twice the number of interested parties compared to last year and the average days on market for property is currently down to 16 days.”
In his view, the suburb’s convenient location is a major drawcard for both owner occupiers and investors. In addition, the area has a number of lifestyle drivers.
“With cafés, restaurants and fresh food markets nearby, it certainly offers buyers great lifestyle opportunities,” he said.
Last quarter, South Australia dominated the list, with five of the top 10 spots.
This time around, the state saw only two suburbs included: Norwood and Brighton.
The full list can be found below:
Top sellers’ markets
1. Balgowlah (NSW)
2. Albert Park (VIC)
3. Norwood (SA)
4. Frenchs Forest (NSW)
5. Cherrybrook (NSW)
6. Brighton (SA)
7. Fitzroy North (VIC)
8. Holland Park (QLD)
9. Ormond (VIC)
10. Engadine (NSW)