Australian Property Market in Favour of Buyers For October Quarter
As per the new report released by Commonwealth Bank, the national property market has moved towards buyers in the October Quarter.
The latest Home Buyers Index shows that the conditions are now favourable for buyers investing in property, from this quarter. In Brisbane and Darwin the major changes are seen in the property market that are favourable to buyers, whereas in Adelaide, the property market is still in favour of sellers itself.
The major states Melbourne and Sydney still continues to be a seller’s market, where the property market is still heating up. Also in Canberra, the seller are dominating over the quarter.
Dan Huggins, executive general manager home buying at Commonwealth Bank said, “The results reveal there is plenty of opportunity left in Australia’s property market. CommBank’s Home Buyers Index shows there are opportunities for buyers and sellers across Australia. Prospective buyers should ensure they do their research and consult a home lending specialist, so they can make an informed decision about where to buy”.
He further added, “The top five buyer’s markets in Australia are Northern South Australia, the Wide Bay-Burnett region in Queensland, the Central West region in Queensland, the Far West region in New South Wales and the Pilbara region in Western Australia”.