For Immediate Release
September 19th, 2024
Buyers take the lead: New report highlights surging property listings across Australia’s top markets
MCG Quantity Surveyors' latest analysis of Australia’s property market reveals a significant shift in dynamics, with increasing listings giving buyers a stronger position. The report, which covers 50 regions, shows rising stock levels in key markets, marking a notable change from the competitive landscape of recent years. For first-home buyers, downsizers and investors alike, the growing supply presents new opportunities to enter or expand in these markets.
“Buyers are now in a better position than they’ve been in for years,” says Mike Mortlock, Managing Director of MCG Quantity Surveyors. “In regions like Bringelly-Green Valley and Rouse Hill-McGraths Hill, where listings have surged over 100%, the market has clearly shifted in favour of buyers. This means more negotiating power and better access to properties that were previously hard to secure due to fierce competition.”
The report highlights several standout areas where the increase in for-sale listings is reshaping the market. “Casey-South and Blacktown-North are seeing stock increases of 74% and 53% respectively, which is creating a more favourable market for buyers,” Mortlock notes. “This is great news for buyers who were previously priced out or had limited choice. It’s an opportune time for first-home buyers and investors who are looking for better value, particularly in outer suburban areas where price pressure is easing.”
MCG’s report also underscores the impact of rising listings on overall market sentiment. “As we see listings rise across regions like Wanneroo in Perth and Cardinia in Melbourne, we expect price growth to moderate,” Mortlock explains. “This presents a strategic moment for buyers to step in while interest rates and economic uncertainty hold some buyers back. With a more abundant market, buyers can afford to be selective and negotiate harder.”
MCG Quantity Surveyors' findings emphasise the importance of market timing and strategic investment in today’s evolving property landscape. For a full analysis of the top 50 markets showing the strongest listing increases and how to navigate this buyer-friendly environment, visit MCG Quantity Surveyors’ website.
Mike Mortlock
Managing Director, MCG Quantity Surveyors
Phone: 0409 956 797
Email: [email protected]
Website: www.mcgqs.com.au