The Australian property market continues to favour buyers, according to the latest Commonwealth Bank/ RP Data Home Buyers Index (HBI).

 

The August quarter HBI found that the housing market has remained flat throughout the quarter, with the nu,ner of properties for sale continuing to outweigh the number of new home loans funded.

 

 “The HBI has remained relatively flat over the three months ending August, with the number of homes for sale continuing to outweigh buyer demand. However, some capital cities such as Melbourne and Canberra are beginning to balance out, offering some encouragement to prospective sellers.” Tim Lawless, National Research Director, RP Data, said.

 

“The results from the three months ending August show us Australia is overall a buyer’s market, which suggests that buyers can continue to drive a hard bargain when they are negotiating on a purchase, particularly in those markets where stock levels are highest,” said Mr Lawless.

The top ten best buyer’s and seller’s markets nationally were identified as:

Top 10 seller’s markets:

Top 10 buyer’s markets:

1. Canberra (ACT)

1. Sunshine Coast (QLD)

2. Pilbara (WA)

2. Lower Great Southern (WA)

3. Loddon (VIC)

3. Gold Coast (QLD)

4. Central Highlands (VIC)

4. Wide Bay-Burnett (QLD)

5. Melbourne (VIC)

5. South East (SA)

6. Ovens-Murray (VIC)

6. Murray (NSW)

7. Darwin (NT)

7. Richmond-Tweed (NSW)

8. Adelaide (SA)

8. Northern Territory – Bal (NT)

9. Perth (WA)

9. Mersey-Lyell (TAS)

10. Kimberley (WA)

10. Upper Great Southern (WA)

 

 

Other notable key findings across Australia:

  • Sydney – Sydney’s overall market conditions favour the buyer in most regions, with extreme buyer’s market conditions prevalent in the Gosford-Wyong region;
  • Melbourne – overall housing market conditions are balanced between buyers and sellers;
  • Brisbane – extreme buying conditions across almost half of the region, a result of virtually no growth in property values over the past five years;
  • Adelaide – the housing market is more in favour of buyers than sellers, with Northern Adelaide the only balanced market;
  • Perth – following declining property values, market conditions in most locations favour buyers.