At the end of the day, property market performance is driven by supply and demand.
What drives supply and demand is a lot more involved though and sometimes unpredictable (Covid is a classic and very recent example).
But if you bring it back to supply and demand this makes understanding what's going on in a market much simpler.
Days on Market
When looking at the demand in a suburb, one metric stands out as a key indicator.
This is Days on Market, or DOM.
According to third party investment experts, a market can be considered:
- HIGH DEMAND, where DOM is 35 days or less
- BALANCED, where DOM is 36-90 days
- LOW DEMAND, where DOM is over 90 days.
Latest National DOM trends
According to Corelogic, at a national level, properties are staying on the market longer, with the national median time to sell increasing from 30 days a year ago to 40 days in Q1 2025.
The graph below shows the rise in the national DOM figure in the past 12 months or so.
Newcastle Region suburbs where HOUSES are in high demand
Excluding low risk suburbs and suburbs with very small numbers of sales (as this data is unreliable), the main suburbs where DEMAND is strongest at the moment (for Houses under $800,000) in the greater Newcastle region are:
- Cardiff - 24 days
- Wallsend - 25 days
- Edgeworth - 25 days
To get the full report on the Top Subrubs in Newcastle right now, click the image below, or visit this page to download the report.
High demand, balanced or low demand - when is best to buy?
When is best to buy depends on the individual situation.
Everyone has a different reason on why they are buying and their timeframe/urgency.
If you have sold a house you may HAVE TO buy urgently so you have somewhere to live.
Sometimes investors also want to buy quickly for their own reasons (which could be related to their employement situation and borrowing capacity for example).
Different suburbs also are very different; some are very tightly held, so tight and so sought after that when good property is available in these suburbs it can be purchased very quickly.
Other very expensive suburbs may be sought after but the pool of potential buyers is so small that some high-end properties can take a long time to sell, depsite the fact they are amazing properties in sought after locales.
So there is no simple answer to this question.
What is important is that you stick to your needs, goals and budget, also understand what is happening in your target suburbs, so you can ensure you buy wisely and with confidence.
If you buy in a suburb where properties are selling QUICKLY (high demand), be careful you don't overpay and do your due diligence.
If you buy in a suburb with low demand, just understand WHY this is occuring and make sure your acquisition aligns with your personal or investment goals. As lower demand tends to align with low capital growth in the short term.
Need help acquiring property in the Newcastle region?
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