Sentiment Strong
Housing-related sentiment is shifting with a strong rise in the number of Australians who think now is a good time to buy.
The latest Westpac Housing Pulse shows a 10% increase in the time to buy a dwelling index.
The increase in sentiment has led Westpac’s economists to increase their predictions for stronger price growth by the end of 2025.
Westpac Senior Economist Matthew Hassan says the shift in sentiment is tempered a bit by ongoing affordability issues.
“Buyers are coming back and saying now’s the time, and sellers are slow to mobilise,” he says.
The report shows that forward-looking indicators are improving, including that auction clearance rates are above long-run averages in Sydney and Melbourne.
Pre-auction withdrawals have also been tracking lower since March, which Hassan says is another sign of a strengthening market
The report says all major capital city markets have experienced positive price gains over the last three months, ranging from 1% in Melbourne, to 1.7% in Sydney, 2.1% in Adelaide, 3% in Brisbane and 3.1% in Perth.
