Tracking the housing market is anything but straightforward — and calling the next move is tougher still.

Each month, independent valuer Herron Todd White maps Australia’s 50 biggest markets on its Property Clock, showing who’s rising, peaking, cooling or bottoming out in the cycle.  

So where does your market sit right now? Dive into their latest Property Clock to see what the next few months could hold.

Markets on the rise

Australia's median property price is hitting new peaks with each passing month, but conditions are becoming more mixed between markets as worsening affordability and now-rising interest rates drive multi-speed performance across the country.

Selling conditions remain broadly favourable, though, and that's led the majority of markets on HTW's Property Clock to sit around the 'rising' segment. 

Houses in Melbourne and Canberra, along with regional hotspots Bathurst, Geelong and the NSW Central Coast, are all considered to be at the start of their next upswing with stronger performances ahead. 

Hobart, Newcastle and the Illawarra have been upgraded to 'rising markets', indicating that HTW believes that both cities are genuinely climbing, and they join the largest segment of the clock.

Brisbane, Perth, Adelaide and Darwin are all classed as rising markets, following another stellar year for each of those capital cities in 2025. 

They sit alongside plenty of regional hotspots, with strong representation in Queensland that includes the Gold Coast, Cairns, Townsville, Rockhampton, Mackay, Albury, Wodonga and Shepparton.

Markets at or approaching their peak

Moving towards the top end of the clock, there's been one very important change in particular. 

Sydney has been elevated to the 'approaching peak of market' segment after the NSW capital's growth pulled right back over the opening months of 2026. 

Burgeoning Queensland markets like the Sunshine Coast, Gladstone and Whitsunday also find themselves classified as nearing their peaks. 

In terms of markets HTW consider to be at their peak, they're all key regional economic centres: Bundaberg and Toowoomba in Queensland, Tamworth in NSW, Mount Gambier in SA and Burnie/Devonport in Tasmania. 

Markets declining or at the bottom

It's telling that the right-hand portion of HTW's clock is far more scarce, with just a handful of markets being tipped to fall or hover around the bottom of the market. 

Regional hubs Bathurst, Launceston and Alice Springs are all listed as being at the beginning of a downswing, while not one city is classified as a firmly declining market. 

Port Macquarie on the NSW mid-North Coast is the sole market deemed to be nearing its lowest point. 

As for markets considered to be firmly at the bottom, Ballina/Byron Bay and the Southern Highlands — two regions that perhaps were overvalued during the 2021 boom — are joined by the Ipswich house market.

A different perspective from Domain

Mid-way through the year, Domain recently released their Housing Market Forecast Financial Year 2026 report and included a property clock of their own. 

The graphic, which only looks at the six most populous capital cities, paints a somewhat different picture to HTW's outlook. 

According to Domain, Canberra is positioned to speed up considerably, while Melbourne and Sydney are tipped to ease. 

Perhaps most interestingly, Domain's position is that the three mid-sized capitals of Brisbane, Perth and Adelaide are on the verge of winding down after years of outsized growth. 

Thinking of selling?

If you're looking to get in on the action in 2026, it's important to be as prepared as possible in order to cut through the competition and achieve a standout result. 

Step 1: Understanding how your market is performing

Every market is different, and understanding your local market is fundamental to making the right selling decisions. Our guide to tracking market trends and data will help you to get a clear picture of how your market is performing and how that impacts you as a seller. 

Step 2: Know what your property might be worth

Getting a free home value estimate is a great way to set a foundation for your selling expectations and begin planning the path forward.

Step 3: Get a no-obligation market appraisal from a top real estate agent

Understand what your property could sell for in the current market by speaking to the top-performing agents in your suburb. Comparing top agents in your area will help you find the perfect partner for your selling journey and move towards a successful result.

Step 4: Finally, get your property listing ready

Taking a thorough approach to preparing your home for sale is another critical step. From cleaning, decluttering, painting and performing other cosmetic renovations to home staging, photography and marketing, getting your property to sale-ready condition is a must.