Market movement as two capital cities shift in favour of buyers

Market movement as two capital cities shift in favour of buyers

Posted on Monday, December 14 2015 at 11:10 AM

Brisbane and Darwin have shifted from balanced markets in favour of buyers, while Sydney and Melbourne remain favourable for sellers, according to the latest Commonwealth Bank CoreLogic RP Data Home Buyers Index.

The October quarter (August to October) Home Buyers Index – which provides an
indication of how well market conditions are suited to buyers or sellers –
found that while the national property market continues to be balanced, there
was a slight shift in favour of buyers. 

At a state-level, the Queensland, Western Australian,
Tasmania and Northern Territory property markets remain in favour of buyers;
Victoria and the Australian Capital Territory favour sellers; while New South
Wales and South Australia remain balanced. 

Brisbane and Darwin recorded the most significant
movements quarter-on-quarter, moving from balanced markets to ones that favour
buyers; Adelaide has shifted in favour of sellers after previously being a
balanced market. Sydney, Melbourne and Canberra remain sellers’ markets. 

Dan Huggins, executive general manager home buying,
Commonwealth Bank, says: “While the national property market remains balanced,
Brisbane, Darwin and Adelaide have experienced the most notable shifts.
Brisbane and Darwin have moved in favour of buyers, while Adelaide’s moved in
favour of sellers.” 

The top five buyers’ markets in Australia are: 

1. Northern, SA 

2. Wide Bay-Burnett, Qld 

3. Central West, Qld 

4. Far West, NSW 

5. Pilbara, WA. 

The top five sellers’ markets in Australia are: 

1. Sydney, NSW 

2. Melbourne, VIC 

3. Adelaide, SA 

4. Canberra, ACT 

5. Central Highlands, VIC. 

“CommBank’s Home
Buyers Index
shows there are opportunities for buyers and sellers across
Australia,” Huggins says. “Prospective buyers should ensure they do their
research and consult a home lending specialist, so they can make an informed
decision about where to buy.”

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