Anyone who's in the market for buying property in Carlton will likely find they have more options, as the latest figures point to a rise in stock listings throughout Sydney.
The surge in construction activity may have played a part, as SQM Research reveals that between November 2014 and 2015, the number of available properties in the city has risen 11.8 per cent. This makes it the strongest increase in the nation, ahead of second-place Darwin, where an 11.4 per cent rise was registered.
On a monthly basis, the number of listings was down 0.8 per cent, perhaps indicating that buyers have been keen to snap up property in Carlton and other parts of the city.
Much of the country has been amid a construction boom over the past few months, which might explain some of this sudden rise. Master Builders Australia revealed that dwelling approvals were at record highs in October, and there's plenty of work for 2016 as well.
"Master Builders expects the high level of approvals to translate into 220,000 starts this financial year, taking the cumulative total to more than 600,000 in three years," said its chief economist Peter Jones.
He explained there has been around ten years of underbuilding throughout the country, but it's now time for this to be addressed and for supply levels to pick up.
This in turn will lead to affordable property in Carlton becoming available. Constructing more homes means a price correction will take place, which is good news if you've still not made it onto the ladder.
Entering the property market for the first time can be daunting, but with a real estate agent in Carlton on your side, it doesn't have to be. With years of experience and an extensive knowledge, we're here to help every step of the way.