Aspiring Sydney property buyers are set to have more choice this year as sellers try to take advantage of favourable conditions, resulting in an expected glut of listings.
Almost every pocket of Sydney has seen more new listings added to the market compared with this time last year. Ryde led the way, with a 46 per cent increase; followed by the northern beaches ; and then Blacktown . Sellers will also come back to the table with more realistic expectations this year, after adjusting to the new normal of more listings and slower price growth, which will benefit sellers and buyers, he added.
“I feel that prices won’t increase at the rate of knots like they did in 2021. Buyers won’t have that fear that if they don’t buy in February, they’ll be priced out in June,” he said.Mr Garofolo noted there would be more houses added to the market in areas including Riverstone, Schofields and The Gables, due to newly completed builds and land releases as well as more units and tightly held family blocks along the corridors of the M7, Parramatta and Victoria Road.