During the September 2010 quarter, the Time to Buy a Dwelling Index increased in four of the five measured States. South Australia was the only state to decrease, recording a decline of 0.3 index points from the previous quarter. Queensland improved the most, increasing by 29.8 index points, followed closely by New South Wales (increase of 27.6) and Victoria (13.10). Western Australia experienced only a slight increase of 0.1 index points.
New South Wales now has the highest index value at 123 index points for the September quarter, meaning Sydney is indicated as the place to buy.
According to the Westpac-Melbourne Institute Survey of Consumer Sentiment, financial conditions improved in New South Wales, Victoria and Queensland, but decreased in Western Australia and South Australia.
Latest information coming to hand from Westpac economist Bill Evans also points out that "the most striking result" of the "Time to Buy a Dwelling Index", was the rise up 15.8% in November.
Consumers see now as being an opportunity for buyers. The result suggests housing markets are well-placed to absorb recent interest rate movement.
If you are thinking of buying property in Australia or Sydney, speak to the property consultants at Intellichoice.
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