Seller confidence returns as downturn 'well and truly over'

by Adam Smith27 Feb 2013


Home sellers are becoming more confident as asking prices begin to creep up, new research has indicated.
The SQM Research vendor sentiment index has shown that home sellers have lifted asking prices for their properties. Capital city asking prices have risen 0.4% for units and 1.5% for houses over the past 90 days, with house prices in Darwin up 12.6% year-on-year.
The researcher put the increase down to a lift in seller confidence, and said vendors now believe that "buyers are bidding more aggressively for real estate that is been offered at fair market value."
"Perth, Darwin, Sydney and Adelaide are now all recording increased asking prices, suggesting that the downturn is well and truly over in these cities. However, Hobart and Canberra have continued to record weakness overall since the start of the new year. Vendors have not yet begun to lift their asking prices in Brisbane and Melbourne, which suggests buyers are still largely in control of the market in these cities," SQM said.