NATIONALLY the property market remained balanced, but there were still suburbs and towns where buyers well and truly had all the power.
The latest CommBank Home Buyers Index revealled the State where buyers had the most power was Tasmania which was an extreme buyers market.
In terms of capital cities buyers also had the upper hand in Darwin.
In regional areas there were numerous extreme buyers markets including far west New South Wales, the Upper great southern region in Western Australia and the Wide Bay Burnett in Queensland.
Within the capital cities, no regions within Sydney, Melbourne or Adelaide were buyers markets.
The central metropolitan area in Perth was a buyer’s market while the greater Brisbane region had the most buyer’s markets including Redcliffe and Caboolture which were at the extreme end of the scale.
The report found that Sydney and Melbourne property markets had continue to shift further in favour of sellers.
The index is calculated comparing the ratio of properties available for sale compared with the number of housing loans that were being committed to by Commonwealth Bank.
Executive general manager home buying, Dan Huggins said the latest report showed a shift toward sellers between May and July 2015, however at a national level the housing market remained relatively balanced for both buyers and sellers.
The top five best buyer’s markets in Australia were:
1. Far West, NSW.
2. Upper Green southern, WA.
3. Wide Bay-Burnett, QLD.
4. South West, QLD.
5. Northern, SA.
The top five bestseller’s markets in Australia were:
1. Sydney, NSW.
2. Melbourne, VIC.
3. Central Highlands, VIC.
4. Canberra, ACT.
5. Ovens-Murray, VIC.
Southeast Queensland property sought by investors priced out of southern markets
REAL estate investors priced out of southern capitals have begun house-hunting where prices are about half that of Sydney and Melbourne.
The Brisbane-Gold Coast corridor of southeast Queensland is on the cusp of a boom, according to buyers agency Oasis Property chief executive Gavin McPherson, with double-digit growth forecast.
Affordability was a massive driver for buyers, as was good rental returns and strong long-term growth prospects, he said. (more…)