Analysis from a large Australian property valuation company shows our major mainland capital cities are at the bottom of their price cycle after a lengthy period of low clearance rates, price drops and falling confidence.
Valuation company Herron Todd White says Melbourne, Perth and Darwin are sitting right at the bottom of the property cycle and Sydney is not far behind.
Despite being valued at the bottom of their price cycles and home loan rate cuts the analysis shows there’s no guarantees of price rebounds in our capital cities in the near-to-short term.
Herron Todd White have published a national property clock for July this year showing where major cities and towns around Australia are sitting in relation to their house price cycle.
Peaking: Albury, Bathurst, Canberra, Dubbo, Sunshine Coast
Start of decline: Central Coast, Coffs Harbour, Geelong, Gold Coast, Lismore, Tamworth
Declining: Kalgoorlie, Newcastle, Southern Tablelands
Near bottom: Broome, Geraldton, Illawarra, South West WA, Southern Highlands, Sydney
Bottom: Alice Springs, Brisbane, Bundaberg, Darwin, Ipswich, Melbourne, Perth, Toowoomba
Recovering: Cairns, Gladstone, Mackay, Port Hedland, Townsville, Whitsunday
Rising: Adelaide, Adelaide Hills, Barossa Valley, Emerald, Hervey Bay, Karratha, Launceston, Shepparton
Near Peak: Hobart