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A new national property seller sentiment survey conducted by OpenAgent and CoreLogic’s onthehouse.com.au has revealed a general dip in seller confidence, along with a raft of other insights.
The survey index ranged from -10 to +10 where a reading of 0 is a neutral view.
It found a general dip in consumer sentiment from Q2 into Q3 of 2017. NSW continued to decline from its peak at +6.5 in January 2017. In Victoria, index values hovered around +5.5 during 2017, with an occasional spike downward but no clear trend.
The survey also highlighted the diverging states of the markets, with Melbourne now the clear winner on price growth expectation at +5.4; Sydney followed at +4.2, above Adelaide at +3.9 and Brisbane at +3.8.
Although metro areas have received more positive vendor sentiment than regional areas, the latest quarter suggests that the gap may be closing. Metro areas collectively had a step down in sentiment in Q2 and the index level has stayed flat in Q3.
OpenAgent co-founder and co-CEO Marta Higuera said that there are many illuminating revelations in the survey.
“The survey revealed that there has been a significant shift from a pessimistic to an optimistic home owner sentiment,” Ms Higuera said.
“On the flipside, the survey confirmed that Sydney’s property price confidence has been slowly eroding since the beginning of the year, making Melbourne the leading capital city in terms of pricing outlook, as seen by home owners.”
Onthehouse.com.au spokesperson David Maire said that the findings provide “timely and in-depth” insights.
Responses were collected from over 8,000 individuals who opted in to the survey over the past 11 months to September.
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