Market movement as two capital cities shift in favour of buyers

Brisbane and Darwin have shifted from balanced markets in favour of buyers, while Sydney and Melbourne remain favourable for sellers, according to the latest Commonwealth Bank CoreLogic RP Data Home Buyers Index.

The October quarter (August to October) Home Buyers Index – which provides an indication of how well market conditions are suited to buyers or sellers – found that while the national property market continues to be balanced, there was a slight shift in favour of buyers.

At a state-level, the Queensland, Western Australian, Tasmania and Northern Territory property markets remain in favour of buyers; Victoria and the Australian Capital Territory favour sellers; while New South Wales and South Australia remain balanced.

Brisbane and Darwin recorded the most significant movements quarter-on-quarter, moving from balanced markets to ones that favour buyers; Adelaide has shifted in favour of sellers after previously being a balanced market. Sydney, Melbourne and Canberra remain sellers’ markets.

Dan Huggins, executive general manager home buying, Commonwealth Bank, says: “While the national property market remains balanced, Brisbane, Darwin and Adelaide have experienced the most notable shifts. Brisbane and Darwin have moved in favour of buyers, while Adelaide’s moved in favour of sellers.”

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