Balanced markets across Australia

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Housing markets across Australia are in a state of relative balance between buyers and sellers according to a combined report from the Commonwealth Bank and CoreLogic RP Data.

According to the Commonwealth Bank-CoreLogic RP Data Home Buyers Index (HBI) April 2015, the three months to April saw a balancing in the market between buyers and sellers

The HBI is based on the ratio of properties for sale compared to the number of housing loans being issued by the Commonwealth Bank, Australia’s largest mortgage lender.

In locations where the number of properties being advertised for sale outweighs the number of mortgage commitments, the market is said to be in favour of buyers.

Where the number of mortgage commitments outweighs sales advertisements, the market is said to be in favour of sellers.

According to the report “stock levels are generally in line with the number of home loans funded, suggesting that current market conditions, at least at a national level, are balanced.”

The April 2015 HBI classifies Queensland, Western Australia and Tasmania as buyer’s markets currently, while all other states and territories have balanced markets.

Looking at capital cities, Sydney, Melbourne and Adelaide are considered to be seller’s markets, while Brisbane, Hobart and Darwin are considered buyer’s markets.

Perth and Canberra markets are said to be balanced.

While Sydney may still be a sellers’ market, according to the HBI, the three months to April saw conditions become somewhat less favourable to sellers.

Depsite this all Sydney regions remain classified as seller’s markets, except for Gosford-Wyong and the Inner West which are classified as balanced.

Melbourne has seen conditions move in favour of sellers over the past year, which is why it remains a seller’s market despite being virtually unchanged over the three months to April.

The HBI has 11 out of Melbourne’s 15 regions as sellers’ markets, with the other four balanced.

In Adelaide, all four regions are classified as seller’s markets, with listing having remained steady while mortgage demand has risen.

Brisbane has seen little change to conditions over the past year, which has seen it remain a buyer’s market.

Regions closer to the CBD in Brisbane tend to be more balanced than those further out.   

Darwin has seen selling conditions weaken over the past 12 months and conditions are now much more favourable to buyers, with more stock to choose from.

Hobart has seen conditions remain unchanged with supply still outstripping demand.

Perth and Canberra have seen little change, with demand and supply sitting in relative equilibrium.

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