Best place to buy property in Australia20 June 2015 by News Desk
Hobart, Brisbane and Darwin are currently the best (ie: cheapest) places to buy property in Australia.
A new report shows that the best property buyer markets are outside capital cities in regions linked to the mining sector where the property market is now slowly moving in favour of buyers due to high supply and low demand.
The most favourable conditions for buyers in Australia’s state capitals are in Brisbane, Hobart and Darwin. Queensland, Western Australia, Tasmania and Northern Territory offer the best conditions for buyers at a state and territory level, with Perth and Canberra and all other states and territories showing balanced market conditions. Sydney has also moved slightly in favour of buyers.
The property market in Melbourne and Adelaide has recently moved in favour of sellers as mortgage applications have risen, according to the latest Commonwealth Bank CoreLogic Home Buyers Index report.
The top five best buyers markets in Australia are:
1. South West, QLD
2. Northern, SA
3. Wide Bay-Burnett, QLD
4. Southern, TAS
5. South Eastern, WA
The top five best sellers markets in Australia are:
1. Sydney, NSW
2. Central Highlands, VIC
3. Melbourne, VIC
4. Adelaide, SA
5. Ovens-Murray, VIC