Property: Resource towns hit bottom, Hervey Bay recovers

WHILE suffering resource town property markets finally approach rock bottom, Hervey Bay is bucking the trend. 

According to Herron Todd White, Hervey Bay was one of the areas starting to recover as well as Brisbane and the Whitsundays. 

Perth, Darwin, Alice Springs, Gladstone, Mackay and Rockhampton - all regions affected by the resources slow down are approaching the bottom of the housing market.

The housing market in Bundaberg, Emerald, South West Western Australia and Townsville had already hit the bottom.

NAB's latest Residential Property Survey last week predicted a softening in house price growth but it also tipped some of the resources markets were near the bottom and price drops would ease.

Herron Todd White found the Hervey Bay market was starting to recover.

It said Brisbane, Ballarat and Toowoomba's unit market would start to decline with Perth and Darwin were already declining.


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