According to STRAND Property Group, the supply of accommodation on Sydney & # 39; s North Beaches has reached a "critical low", spurring competition among potential buyers.
There were only 565 properties available for sale on the Northern Beaches in January, according to the latest figures from SQM Research. Michael Ossit, director of STRAND Property Group, said the supply-demand equation in the region was "out of control".
"It is clear that a month after the Northern Beaches foreclosure, the market has strengthened further with sky-high prices recorded," he said.
Some of the more popular suburbs in the area include Allambie Heights, North Manly, Collaroy Plateau, North Narrabeen, and Curl Curl.
Ossitt said the low level of listings in the area suggests that the foreclosure has had no negative impact on the local real estate market.
"It rather delayed some people's sales plans, which drove the available ads to extremely low levels," he said.
Considering the situation in the area, potential owners are now turning to buyers' agents to help them secure a good deal under competitive market conditions.
"Strategic property purchases are an integral part of what professional buyers agents provide to clients, including making sure they are not overly stretched financially," Ossit said.
Ossit expects conditions to remain tense in the region, especially as interest rates remain at historically low levels.
"The lifestyle has become much more important to all of us over the past year or so, which, combined with working from home, means that more people than ever are looking for their own slice of real estate on the beaches to feel at home, ”he says.
Top suburbs:
Bligh park
,
Geelong West
,
mt colah
,
West Wodonga
,
Alexandra Hills
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