Valuer Herron Todd White's monthly report is out, and it contains some interesting information for investors:
- The Sydney house market has peaked, and the unit market is starting to decline. This has been called before but it does seem like the combination of eye-watering prices, bank lending restrictions and a decrease in foreign investors is finally taking the heat out of the market
- The Perth market has now bottomed, as stock on market decreases and buyer activity increases. The bottom can also be hard to pick, but based on the current market data further big falls seem unlikely.
- Brisbane remains in the recovery phase. What's big about this? Well, despite a modest increase of between 20-30% over the past 4 years, the Brisbane property market has yet to hit its straps, and probably won't until the Brisbane economy starts creating more jobs. History suggests that it will, and there are some signs it is starting to. But in the meantime, Brisbane represents good value for the investor, with plenty of upside potential.
Read the full report here.