Posts area Latest 1 of 1 Latest posts Latest posts 7.33am Is it a good time to buy a house right now in WA? Potential home buyers may find it hard to borrow enough money to buy a place to live now – but those who manage won’t find a healthy number of properties for sale to choose from. It’s a clear sellers’ market in Perth and Adelaide, where prices are rising and buyers face competition, there were more sales than new listings.
Melbourne homeowners have been pushing ahead with listing their homes for sale even as values have edged lower. There were 21,145 property sales over the three months to July, on CoreLogic figures, but 26,590 new listings, making it a buyers’ market. In Sydney, supply and demand looked closer to being in balance with a slight upper hand to sellers, at 21,533 sales, but 20,587 new listings.
It was a similar picture in Brisbane, even though values were rising more strongly. The figures come after higher interest rates slashed how much potential buyers could borrow, while home prices have not followed suit. Westpac senior economist Matthew Hassan said Perth had less inventory on the market than its long-run average.
“Is the price and interest rate situation conducive to purchasing at the moment,” he said. “That’s clearly not the case, affordability is pretty poor everywhere and buyer sentiment in that sense is pretty weak everywhere. “Buyers might not be that happy to be buying, but they have slightly the upper hand in Melbourne, and .