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Australia is a BIG country with many markets at different stages of the property cycle. Below is how Herron Todd White is reporting each capital city in May.
Sydney:
Houses: Rising market
Units: Rising market
Melbourne:
Houses: Rising market
Units: Peak of market
Brisbane:
Houses: Start of recovery
Units: Declining market
Houses: Rising market
Units: Rising market
Houses: Rising market
Units: Declining market
Adelaide:
Houses: Rising market
Units: Bottom of market
Darwin:
Houses: Bottom of market
Units: Bottom of market
Perth:
Houses: Approaching bottom of market
Units: Declining market
The property cycle generally takes around 7 to 10 years and ideally, one full cycle will see the price of property double (given other key investment criteria is met).
Milk Chocolate was founded seven years ago by Richie Ragel and Michael Cleary, to purchase residential and commercial property in Australia on behalf of our clients, looking for a home or investment property. To see how we can help you get in touch here.
Thanks, Michael
Sources: Herron Todd White
Herron Todd White report the stages as: Peak of market/starting to decline/declining market/approaching bottom of market/bottom of the market/start of recovery/rising market/approaching peak of market/peak of the market.
#onthehunt #milkchocproperty #propertyconcierge
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