Katrina Parrington

Mortgage & Finance Broker, Elders Home Loans – Northern Territory – P. 8932 8900

  • Enter your email address to subscribe to this blog and receive notifications of new posts by email.

    Join 1,742 other followers

  • Elders Home Loans

  • Katrina Parrington

    I am a long term Centralian resident with more than 18 years experience in the financial services industry. Initially, in Real Estate in Adelaide before pursuing a career with Elders Insurance Alice Springs and lending roles with major banking institutions where I gained extensive experience in Home Loans and Commercial Lending here in the Alice and in Darwin.

    I have a unique set of skills that ensures I understand your lending needs and can provide you with professional advice and personal service.

    Tel: 08 8953 8800
    email: katrina.parrington@eldershomeloans.com.au

  • Advertisements

IS IT A BUYERS OR SELLERS MARKET?

Posted by Katrina Parrington on April 22, 2015

FHOG pictureWhile the pendulum swung slightly in favour of sellers over the quarter to Jan 2015, market conditions in Australia as a whole remain balanced, according to the latest Commonwealth Bank-CoreLogic Home Buyers Index buyers.

In other words, supply and demand are roughly equal. A closer look at the figures, however, reveals that conditions vary greatly in different property markets around the country.

Why is this important?

Understanding whether you’re in a buyer’s or seller’s market can give you the edge when it comes to property negotiations. In a seller’s market, where demand is high, the seller can often negotiate a higher price. In a buyer’s market, where supply exceeds demand, the opposite is true.

The Commonwealth Bank-CoreLogic Home Buyers Index measures supply and demand by comparing the number of properties for sale with the number of home loans being committed to by our customers. It scores each property market (from a national level down to regions within cities) with a figure, with 1 being an extreme buyer’s market and 5 being an extreme seller’s market.

Which markets are best for sellers?

Across the capital cities:

• Sydney
• Melbourne

These cities are experiencing a high level of demand from buyers. Appropriately priced homes are selling quickly, often above list price.

Sydney stands out as an extreme seller’s market, having moved more in favour of sellers over the quarter.

Which markets are best for buyers?

With more stock than active buyers, these capital cities favoured buyers over the quarter:

• Brisbane
• Hobart
• Darwin

Selling conditions weakened marginally in Brisbane, which is still rated a buyer’s market, though conditions are more balanced closer to the CBD.

Which markets are balanced?

In these capital cities stock levels and demand are about equal:

• Adelaide
• Perth

On average, this means that the negotiating power between buyers and sellers is even.

How do the regions compare?

Conditions in regional Australia are generally more in the favour of the buyer than they are in the capital cities.

The markets most in favour of buyers include coastal/lifestyle regions and areas associated with the resources sector.

Overall New South Wales, Victoria and South Australia have balanced markets. Queensland, Western Australia and the Northern Territory are all buyers’ markets, while Tasmania is an extreme buyer’s market.

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. You should consider seeking independent financial advice before making any decision based on this information. Home Buyers Index results for ACT are not available.

Advertisements

Sorry, the comment form is closed at this time.

 
%d bloggers like this: