Anyone reading the newspapers recently would think Sydney is experiencing the largest property downturn in years.
Alarmist reports state that prices are down by as much as 30%.
But often, the reporting does not factor in the unique trends happening in different areas of metropolitan Sydney.
In fact, one would be hard-pressed to even think of Greater Sydney as a single property market. Rather, there are a number of separate real estate markets, each functioning according to its own local set of circumstances.
The most accurate marker to determine the strength of any real estate market, is the ratio of DEMAND to SUPPLY. Like any market, when demand is strong, prices will also be strong. And the clear trend we are witnessing in the Inner West is that levels of demand are holding up.
At Devine Real Estate we have been crunching the numbers. Using publicly available statistics on the volume of houses and units for sale in a variety of Sydney suburbs, we can see that the Inner West remains among the top performing areas of Sydney.
The ‘DSR Data’ team aggregate the volume of demand relative to supply in all Sydney postcodes for both houses and units. The outcome is a “Demand to Supply Ratio” number out of 100. The higher the number, the more demand outweighs supply.
At Devine Real Estate, we looked into the average DSR numbers for both houses and units in our suburbs of expertise; Concord, Drummoyne, Marrickville, Strathfield and Dulwich Hill.
We then conducted the same analysis in a number of other popular Sydney suburbs.
The outcome was clear: the suburbs where we specialise have above average DSR numbers, and in fact, Concord and Drummoyne are leading the pack!
With demand significantly outstripping supply in these suburbs, homeowners should feel absolutely confident that property values are still strong in the Inner West.
Should you be considering selling your property, give us a call to discuss the best strategies for maximising your selling price!
Our experience and knowledge of the Inner West is unparalleled. We understand the local market and will guide you every step of the way, from marketing and staging your property, to engaging large numbers of interested buyers. We will also conduct negotiations on your behalf to ensure you achieve the optimal result.
Of course, when you consider all the amazing things to do in Sydney’s Inner West, it’s not surprising that demand continues to remain so strong. People want to invest in our area in order to enjoy an enviable lifestyle and be in close proximity to everything Sydney has to offer.
We are constantly fielding inquiries from people seeking local properties. This places us in the best position to find the right buyer for you.
So don’t hesitate to call us when you’re ready to sell your property. With our knowledge of the local market, and our lists of ready buyers, Devine Real Estate makes selling a cinch!
Devine Real Estate
T: 02 8789 0217 | M: 0419 202 930