Sydney housing market downturn spreads across New South Wales: HTW national property clock

Sydney housing market downturn spreads across New South Wales: HTW national property clock
Sydney housing market downturn spreads across New South Wales: HTW national property clock

The Sydney house price downturn has continued to spread further across New South Wales, according to valuation firm Herron Todd White.

In February (bottom), houses in Newcastle slipped in to a declining market, and now the March National Property Clock has South East NSW joining them.

The Sydney has been a declining market since May 2018. 

The Central Coast and Coffs Harbour housing market are expected to be next to follow suit. They have been starting to decline for a number of months.

Click here to enlarge the March National Property Clock.

Sydney housing market downturn spreads across New South Wales: HTW national property clock

Having defied the downturn in Sydney for a number of months, Herron Todd White noted that 2018 was marked as a year of transition for the Newcastle and Hunter Valley residential markets.

"That transition, from a bullish and fast-moving market early on to a soft and increasingly brittle market by the end of the year, was always going to occur at some stage.

"It just happened to be 2018. This year of transition followed many years of strong and sustained growth, largely unprecedented in its length."

The NSW house price cooling is yet to reach the Mid North Coast region, which continues to sit at the peak of the market. It was recently joined by Dubbo.

There was good news in the Queensland capital, where Brisbane moved from approaching the peak of the market to a rising market, suggesting there's some way to go in their house price up-cycle. 

"Brisbane in the coming twelve months will, generally speaking, see a stable market across most locations," HTW noted.

"We aren’t historically prone to mighty price movements in either direction.

"As mentioned in Month in Reviews past, Brisbane has been on the cusp of substantial price rises for about six years now.

"While there are plenty punting on the idea that 2019 will bring big gains, we prefer to think our real estate values will strengthen in a more measured way."

Click here to enlarge the February National Property Clock.

Sydney housing market downturn spreads across New South Wales: HTW national property clock

 

 

 

 

 

 

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?