New analysis by Abodely has found Strathfield, Parramatta, and the Hills Shire are the top local government areas (LGAs) in Sydney for real estate agents looking for fertile grounds with less competition. This industry study delves into real estate agent density, five-year supply growth, and median house prices to rank each LGA's appeal to agents in 2024.
North Western Areas Lead the Way
Strathfield, Parramatta, and The Hills Shire lead the pack with their winning combination of moderate agent density, substantial supply growth, and attractive median house prices. "These areas are ripe for agents looking to establish or expand their presence," says Tom Coe, founder of Abodely, an off-market property platform. "The balance here offers a unique opportunity for growth and profitability."
Rising Markets with Solid Prospects
City of Ryde and Bayside follow closely, standing out with their substantial supply growth and higher median house prices. These factors hint at more listings and higher commission potential, despite slightly stiffer competition.
Outskirts Offer Golden Opportunities
Agents tired of the cut-throat competition should look to Sydney's outskirts. Penrith City, City of Campbelltown, City of Fairfield, and City of Liverpool shine with the lowest agent-per-dwelling ratios. These areas promise ample opportunities thanks to their development boom and fewer competing agents. "As the median dwelling price in these areas continues to soar, established agents will be well placed to benefit from the higher median prices," added Coe.
Where Big Earnings Meet Low Competition
Blacktown's spot in the top 10 low-competition areas echoes success stories like a young agent's $7 million year in the region. This highlights the lucrative potential in areas like Quakers Hill, Blacktown, Marsden Park and Schofields where a growing market meets lower agent saturation.
Attractive Pockets in Established Areas
While the City of Randwick and Mosman Council also rank well for the least agents per dwelling, they offer a different opportunity for strategic agents. Unlike the burgeoning outskirts, these areas are well-established and command higher median house prices. Agents specialising in premium properties might find these markets particularly appealing, offering a niche in well-established, affluent communities.
Rethink Strategy in Posh Suburbs
Agents in affluent areas like the City of Sydney, North Sydney, and Woollahra should rethink their strategies. High house prices attract agents in droves, but smart, data-driven choices are key to real success. Understanding the market beyond property values is crucial for maximising earnings and building a sustainable career. Coe advises, "Agents looking to establish themselves need to think beyond just high property values. It's about understanding the market dynamics and thinking about how to gain an edge."
Methodology & Supporting Files
