The top five buyer's and seller's markets in Australia: Commonwealth Bank/CoreLogic

The top five buyer's and seller's markets in Australia: Commonwealth Bank/CoreLogic
Jessie RichardsonDecember 7, 2020

Queensland, Tasmania and the Northern Territory are buyer's markets, while Victorian sellers hold the balance of power, according to the latest Commonwealth Bank and CoreLogic RP Data Home Buyers Index.

Overall, the report showed property market conditions across Australia are moving into balance, favouring buyers and sellers equally. However, within each state, city or region, there are pronounced variances.

The Home Buyers Index compares the ratio of properties for sale with the Commonwealth Bank's housing loans.

The results from the quarter to October 2014 show that Victoria was the only state that moved from a balanced market in July 2014 to a seller's market in October 2014.

Of the capital cities, Melbourne and Sydney's property markets favour sellers. However, national research director of CoreLogic RP Data Tim Lawless said the quarterly results showed that Australia's property markets were largely balanced.

"Conditions over the past three months have generally become more balanced between buyers and sellers, and the October report shows that even Sydney has started to balance out, although it remains a seller's market," Lawless said.

For those seeking a property in a capital city, Brisbane and Hobart's markets are tipped in buyers' favour.

According to Lyn Cobley, executive general manager, retail products and third party banking, at Commonwealth Bank, in the three months to October, capital city markets were either balanced or seller's markets. She cautioned metropolitan home buyers to "ensure they make rational purchasing decisions in line with their budget".

"There are more promising opportunities for home buyers looking to purchase a property in the regional and coastal areas of Queensland, the Northern Territory and Tasmania. Buyers in these regions may be able to drive a better deal on sale negotiations," said Cobley.

The top five buyer's markets

  1. Eyre, SA
  2. Wide Bay-Burnett, QLD
  3. Lower Great Southern, WA
  4. Central West, QLD
  5. Far West, NSW

The top five seller's markets

  1. Central Highlands, VIC
  2. Sydney, NSW
  3. Melbourne, VIC
  4. Loddon, VIC
  5. Ovens-Murray, VIC

Source: Commonwealth Bank and CoreLogic RP Data Home Buyers Index

Editor's Picks