Sydney market favours buyers except in outer West and Eastern suburbs: CBA-RP Data Home Buyers Index

There are no regions in and around Sydney that favour vendors but three markets - Blacktown, Outer South Western Sydney and the premium Eastern Suburbs market – offer a balanced market place, according to the May quarter update to the Commonwealth Bank-RP Data Home Buyer’s Index (HBI).

Overall Sydney market conditions favour the buyer in most regions, indicating the amount of stock available for sale is greater than the number of mortgage applications.

“Sydney's selling conditions have improved slightly over the last quarter, however buyers remain better positioned in negotiations than vendors. Given these conditions vendors will likely have to set more competitive prices in order to attract purchaser interest,” says the report.

Extreme buyer’s market conditions are prevalent in the Gosford-Wyong region.

The Index is based on the ratio of properties available for sale compared with the number of housing loans that are being committed to by clients of the Commonwealth Bank.

Where the number of properties being advertised for sale outweighs the number of mortgage commitments (adjusted for market share), the market is considered to be in favour of the buyer; effective supply is outweighing demand. Where new home loans are outweighing the number of homes available for sale, market conditions generally favour the seller.