Melbourne, the NSW Central Coast and Newcastle houses at market peak: HTW property clock
Houses in Melbourne, the NSW Central Coast and Newcastle are at the peak of the market cycle according to analyst firm Herron Todd White's property clock for houses in August.
Last month Dubbo and the Gold Coast were in the peak of the market as well.
HTW said the diversity of proportion the NSW Central Coast covers all wants, tastes and needs at pricing levels which are more than favourable to those seen in the Sydney metropolitan area but first home buyers make up a big part of the economic base on the coast.
"Spoilt for choice, there are a number of localities suitable for the first home buyer," HTW said.
"At present, Narara, Niagara Park and Wyoming are probably the pick for these buyers toward the southern end of the LGA. Newer and bigger homes within reach for the rst home buyer toward the northern end of the LGA can be found at Woongarrah, Hamlyn Terrace and Wadalba.
"Second, third and subsequent buyers are equally well catered for. It just depends on whether they want to be close to the beaches or lakes, or in a suburbs or rural lifestyle area. All budgets and tastes are satisfied."
HTW state Newcastle/Lake Macquarie has seen a sustained period of growth for standard residential property over the past two years, despite new release subdivisions selling land at Fern Bay, Cameron Park and Fletcher in large numbers.
“There are also smaller estates dotted throughout Newcastle and in particular Lake Macquarie, with Catherine Hill Bay and Trinity Point at Morisset adding to the available stock," HTW said.
"This can be put down to a number of factors including incentives for first home buyers to build, interstate migrants coming from the more expensive Sydney market and speculative out of town investors looking to add to their rental portfolios."
In Melbourne, Cranbourne East provides an affordable option with a median house price of $418,750.
"It has been named the fastest growing suburb in Victoria, expanding by 88 people per week in the past financial year as stated by the Australian Bureau of Statistics."