Where are property values rising and falling?
Following a year of two halves for property, some investor markets are tipped to show strong signs of recovery, while some investors are in for a little more pain, according to a new report.
The new Month in Review report from Herron Todd White revealed the cities and regions tipped to grow and the markets that are on the decline.
The report revealed that Canberra and the Sunshine Coast, Albury, Bathurst, Dubbo and Tamworth are the six markets that are reaching their peak, while a hot Hobart market is still on the rise.
The major east coast markets of Sydney, Melbourne and Brisbane are all in the start of a recovery, following two years of decline, the report noted.
Three of Australia’s capitals – Adelaide, Darwin and Perth – are tipped to bottom out.
The report found that the Central Coast and Wodonga are at the start of a decline, while the mining town of Kalgoorlie is in decline.
Expected unit values were similar with Albury, Bathurst, Sunshine Coast, Tamworth and Wodonga predicted to have reached their peak.
Sydney, Adelaide, Brisbane and Dawin are all at the bottom of the apartment market, while Canberra and Perth unit prices are starting to decline.
Melbourne unit prices are starting to recover, while Hobart is the only major city that currently has rising unit prices, Herron White Todd said.
The Central Coast is also showing signs of starting to decline for unit values, while Canberra, Kalgoorlie and the Southern Tableands are all declining.
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