Sell with Confidence
Read More
News

Sellers in Control in Key Property Markets

By Rebecca Richmond

The property market is now firmly in the hands of sellers in the key markets across Australia including Sydney and Melbourne, as supply levels show not nearly enough listings to meet the rush of new home seekers.

Sydney is the top sellers market behind only Canberra and Loddon (Vic) as the most advantageous for sellers in the whole country, according to the latest Commonwealth Bank/RP Data Home Buyers Index (HBI), released today.

However, Sydney is the only market in NSW to be a sellers market, while four Victorian markets, including Melbourne, have made the grade.

The HBI determines whether a market is best suited to buyers or sellers by measuring the number of available properties for sale against the number of new home loans being funded and Sydney has moved into the top five seller’s list after moving from a buyer’s market at this time last year. For many potential buyers, the result is simply a confirmation of something they already knew.

The harbour city is at the front of a general shift among the rest of the capital cities, which are moving from buyer’s markets to a more balanced outlook. From a state perspective, only Queensland and Tasmania remain buyer’s markets.

“It’s an interesting time for home buyers, as historically low interest rates sit alongside market conditions that are becoming more competitive,” said Clive Van Horen, CBA general manager, retail and customers. “However, as we approach the upcoming spring peak-buying season, there are some interesting opportunities for those looking to buy or sell a property.”

Source – Leader

Up to Date

Latest News

  • 4 ways to organise your living room

    Organising your living room means making it a more welcoming space for you and your family to enjoy some more relaxation time. Here’s how. Your living room should be a place that welcomes and nurtures you – your haven from the cares of the world and a place where you … Read more

    Read Full Post

  • White is just white, right?

    There’s something absolutely satisfying about crisp white walls. But often this is the default choice, with many people not realising the important role that white plays as a canvas for colour in the home and how different whites can influence the vibe. White could be your path to creating a … Read more

    Read Full Post