The Eastern Suburbs is known to be one of the most competitive regions of Sydney and that’s certainly still the case. With demand from buyers in the marketplace heavily outweighing property supply levels, buyers are increasingly looking for any way to increase their chances of picking up a quality home for the right price.
Aaron Stern has almost 10 years’ experience in Sydney’s Eastern Suburbs market, covering key areas from Watsons Bay to Randwick.
“The East has many markets within markets, showing a slightly different story for various price points.”
“Overall the market continues to show strength, where I often see 4 or more registered bidders at auction, or twice as many buyers inspecting homes than last year.”
Stock levels are increasing but not nearly enough Aaron noted.
“We have more stock on the market than last year but not nearly enough to satisfy buyer demand. According to SQM research, total property listings have increased year on year for Rose Bay, Randwick and Vaucluse when comparing July 2023 to July 2024.”
| Suburb | July 2023 Listings | July 2024 Listings | Change |
| Rose Bay | 44 | 57 | 29.5% Increase |
| Randwick | 63 | 87 | 38.10% Increase |
| Surry Hills | 134 | 133 | 0.75% Decrease |
| Vaucluse | 53 | 60 | 13.21% Increase |
| Bondi | 119 | 55 | 53.80% Decrease |
Keeping the big picture in mind:
“What we’ve seen over the last 10-15 years is a steady increase in housing prices with very little price volatility. Suburbs such as Bellevue Hill, Vaucluse, Bondi, Paddington and surrounds seem to be shielded from any external market threats such as Covid and interest rate hikes as of late.”
“We see the Eastern Suburbs market go through massive property price booms, followed by relatively small declines. This cycle then repeats itself.
“In my view, the cyclical nature of this market provides opportunities for buyers that are willing to purchase when there is less demand. For example, the upcoming Australian Federal Election next year may present a great opportunity to purchase at a relative discount. We’ve seen in previous election years the market has a temporary dip due to nervous buyers because of uncertainty about what the future holds, followed by an immediate bounce-back soon after the election.”
Here to help you succeed on your property journey:
Aaron added, “I think many buyers are feeling the pressure to get in the market, especially before a rate cut. However, with not enough stock to go around it can be difficult. If you’re tired of missing out, I’d be more than happy to chat with you how we can give you an edge in the market.”