When it comes to real estate, it's not unusual to see Sydney outdoing the rest of the capital cities. Auction numbers, clearance rates, value growth – you name it, and you'll probably find Sydney at the top of the heap.
That's why the news from CoreLogic RP Data that Sydney has seen the biggest rise in its new property listings for spring is not too surprising. It will be interesting for anyone thinking of buying property in St George, Carlton and other nearby areas, however.
According to the figures, Sydney has seen a massive 18.8 per cent rise in its new listings over the year to September. This dwarfs the second place city, Canberra, which saw a 5.8 per cent rise. It's also the highest level for new listings since November last year,
This now puts Sydney's total listings at 19,420, which is a 5.8 per cent increase from the same time in 2014. Sydney was one of only three capital cities to experience such a rise, with Melbourne – Sydney's biggest competitor – seeing listed properties drop by 3.8 per cent over the year. The New South Wales capital, on the other hand, hasn't seen its total listings this high since the preceding December.
This is likely the effect of the start of spring, which is traditionally a strong time for property sales. In fact, the capital cities as a whole have experienced a bump in their new listings this season – Sydney has just seen the most dramatic growth. There were 92,296 total listings in September, with new listings making up 26,829 of those.
With things the way they are, it could be a better time than ever to find a piece of real estate in Allawah, Beverley Park and other areas in the vicinity.