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Buyers are still ahead in the property game, according to the Commonwealth Bank-RP Data Home Buyers Index (HBI) released last week.
According to Clive van Horen, general manager home loans, Commonwealth Bank, the latest HBI reveals some good opportunities for buyers, particularly those looking outside the capital cities or for interstate investment opportunities.
“While the property market remains competitive for many homebuyers in the capital cities of the south eastern states, reflective of the solid clearance rates we’ve seen in Sydney and Melbourne recently, there are some interesting opportunities for buyers in the regional housing markets and for investors, particularly in the north east and west of the country.
“With mixed market conditions across the country, buyers should undertake comprehensive research before entering negotiations, including looking at comparative property valuations and real market value data, as well as getting tailored advice from lending specialists,” said Mr van Horen.
Between October 2013 and January 2014, there were mixed market conditions across the capital cities, with Sydney becoming the top seller’s market in the country, pushing Melbourne and Canberra into second and third spots respectively.
Despite showing balanced market conditions, Perth is slowly shifting towards being more in favour of sellers, reflective of its position as the fifth best place to sell a property in January 2014.
Conditions across the other capital cities were typically more balanced or more in favour of buyers.
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