Newcastle housing and unit markets begin to decline: HTW Property Clock

Newcastle housing and unit markets begin to decline: HTW Property Clock
Newcastle housing and unit markets begin to decline: HTW Property Clock

After a sustained period of growth, the housing market in Newcastle is starting to decline, according to valuation firm Herron Todd White.

Newcastle has been either approaching the peak or at the peak of the market for the last 12 months, despite the downturn in Sydney.

Coffs Harbour had been performing at a similar rate, even when the Central Coast market began declining three months ago.

Herron Todd White said housing requirements and an ageing population within Coffs Harbour and surrounding regions will be a key issue in years to come.

"The 2016 census showed there were 41.8 per cent of people aged over 50 in Coffs Harbour compared with NSW at 34.6 per cent, highlighting the need for forward thinking in this market sector," they noted.

Click here to enlarge the national housing property clock.

Newcastle housing and unit markets begin to decline: HTW Property Clock

 

Sydney houses and apartments remain a declining market for the second month in a row, while Melbourne continues its decline in both markets.

There was good news in Darwin, where the housing market is starting to recover, however the unit market is still declining.

Click here to enlarge the national unit property clock.

Newcastle housing and unit markets begin to decline: HTW Property Clock

 

Bundaberg was the worst performer across the country.

Both their housing and unit markets are have moved to approaching the bottom of the market.

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.

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