The Aussie property market is finally cooling but some suburbs have been hit harder than others by a lack of buyer demand.
The suburbs have all experienced an increase in the number of days on the market while the number of potential buyers has remained steady, according to research commissioned by online property sales platform Openn.
Openn managing director Peter Gibbons noted this research could help sellers better understand the current market conditions and level their expectations.
“Pricing a property is incredibly difficult when market conditions shift rapidly,” Gibbons said.
“Agents and sellers must carefully consider their pricing and sales strategy, as the longer a property is on the market, the less buyers expect to pay.”
The 20 suburbs are spread across the country, with 10 in Queensland, four in Tasmania, three in Victoria, two in New South Wales and one in South Australia. Additionally, 13 are house markets and seven are unit markets.
The top 20 suburbs where buyers rule
Here are the top 20 suburbs along with their typical asking price.
Ballarat Central, VIC - $519,950
Dicky Beach, QLD - $435,000
Beaumaris, TAS - $770,000
Barmera, SA - $330,000
Sunnybank, QLD - $481,000
Woorim, QLD - $500,000
Liberty Grove, NSW - $868,000
Eagle Point, VIC - $619,000
Little Mountain, QLD - $480,000
Beaconsfield, TAS - $416,100
New Beith, QLD - $975,000
Currumbin, QLD - $1,745,000
Bicheno, TAS - $780,000
Belgian Gardens, QLD - $590,000
Beechmont, QLD - $800,000
Gulmarrad, NSW - $950,000
Cooroibah, QLD - $1,450,000
Invermay Park, VIC - $695,000
Barney Point, QLD - $252,000
Bridport, TAS - $700,000