Slight shift to favour sellers in property market
Slight shift to favour sellers in property market
Posted on Monday, September 28 2015 at 11:58 AM
The national property market remains balanced, while Sydney and Melbourne have shifted further in favour of sellers, according to the latest Commonwealth Bank CoreLogic RP Data Home Buyers Index (HBI).
The HBI is based on the ratio of properties available for sale compared
with the number of housing loans that are being committed to by Commonwealth
Bank.
The latest report shows there was a slight shift towards sellers between
May and July 2015, although at a national level the housing market remained
relatively balanced for both buyers and sellers.
The top five best buyers’ markets in Australia are:
- Far
West, NSW. - Upper
Green Southern, WA. - Wide
Bay-Burnett, Qld. - South
West, Qld. - Northern,
SA.
The top five best sellers’ markets in Australia are:
- Sydney,
NSW. - Melbourne,
Vic. - Central
Highlands, Vic. - Canberra,
ACT. - Ovens-Murray,
Vic.
Commonwealth Bank’s executive general manager home buying Dan Huggins says:
“At a national level we’re seeing a relatively balanced housing market, however
conditions continue to vary across the different states, territories and
capital cities.
“Although Sydney and Melbourne remain skewed towards sellers, there are
favourable conditions for prospective buyers in state capitals like Hobart and
Darwin, as well as more regional areas across the states.
“It’s important to have the right information when looking to purchase a
property. I would encourage all homebuyers to do thorough research and speak
with a home lending specialist to help make a more informed decision about
where to buy.”
According to the HBI, market conditions in Queensland, Western
Australia, Tasmania and the Northern Territory were skewed towards buyers,
whereas Victoria and the Australian Capital Territory favoured sellers. New
South Wales and South Australia remained neutral.
Market conditions in capital cities were typically either balanced or in
favour of sellers this quarter. Sydney and Melbourne experienced high buyer
demand, creating further competition in the market. Inner West Sydney,
Boroondara City and Eastern Middle Melbourne saw the sharpest swing to favour
sellers. Elsewhere, Gosford-Wyong in Sydney and Mornington Peninsula Shire in
Melbourne experienced balanced conditions.
Adelaide and Canberra experienced a shift further in favour of sellers,
with listed properties outnumbering people actively looking to purchase.
For buyers, the most favourable conditions among the state capitals were
Hobart and Darwin, while Brisbane and Perth remained balanced between buyers
and sellers.
CoreLogic RP Data’s senior research analyst Cameron Kusher says: “While
we’re seeing strong selling conditions in Sydney and Melbourne, the latest
report shows that on a national level the real estate market remains balanced.
“Regional areas continue to offer the best opportunities for would-be
homeowners, while sellers are still benefiting from increased demand in
metropolitan areas.”
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