So where should you park your property dollars if you don’t want to get trampled in a race to the bottom?
Not surprisingly, pick those markets that have less room to fall, reports realestate.com.au.
“Sydney and Melbourne are already dropping in price at the moment and historically it’s these cities that have had the biggest slips in prices,” says Peter Koulizos, director of the Master of Property program at the University of Adelaide.
“The two stellar cities at the moment are Brisbane and Adelaide, and traditionally they don’t tend to have as bigger falls as Sydney and Melbourne.”
PropTrack economist Angus Moore also pegged Brisbane and Adelaide, as well as Hobart, as more stable options.
The PropTrack Home Price Index shows that prices are still growing in Adelaide and Hobart, and in many regional areas.
“Brisbane recorded its first decline in prices in June, but it’s continuing to outperform Sydney and Melbourne.”
Realestate.com.au outlined the expert picks for where price growth would defy the laws of gravity. Here are their tips for Brissie:
- Balmoral houses and units
- Brighton houses
- Manly houses
- Sandgate houses
- Shorncliffe houses
- Woolloongabba houses and units
- Wynnum houses and units
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