Melbourne joins Sydney as declining housing market: HTW National Property Clock

Melbourne joins Sydney as declining housing market: HTW National Property Clock
Melbourne joins Sydney as declining housing market: HTW National Property Clock

Melbourne has joined Sydney as a declining housing market, according to the latest national property clock from valuation firm Herron Todd White.

Last month HTW had Melbourne houses starting to decline, with Sydney already deemed a declining market.

There was worse news to come from Sydney's Central Coast, whose housing market last month was at the bottom of the market.

Now HTW believe there's still further to go for the region, now joining Sydney, Melbourne, Brisbane and Ipswich as a declining market.

Good news for Sydney's other popular weekender hotspot, the Southern Highlands, whose housing market is starting to rise.

To enlarge, click here.

Melbourne joins Sydney as declining housing market: HTW National Property Clock

Hobart continued to look strong, with houses at the peak of the market. Launceston and the Burnie/Devenport area too joined in the good times.

The housing markets in Darwin, Broome and Bundaberg are at the bottom, joining Alice Springs and the Southern Tablelands.

With COVID-19 impacting real estate markets nationally, and even globally, valuers at Herron Todd White are asking “Will Spring spring in 2020?”

"Spring has always been considered an excellent time to sell, particularly if you have a detached dwelling with a garden; the blooming plants and warmer climate make an attractive prospect for buyers", Herron Todd White's monthly report advises.

"With the effects of COVID-19 still playing out, we feel that properties that offer landscaped gardens and study rooms will further attract keen buyers as people continue to spend more time at home, either working or relaxing."

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Tags: 
Price Decline Htw

Comments

Be the first one to comment on this article
What would you like to say about this project?