Tracking the property market is far from a simple exercise, and predicting what's coming next can be close to impossible. 

But each month, independent property valuation firm Herron Todd White (HTW) does exactly that, classifying the top 50 markets around Australia in their residential property report to predict what's up ahead. 

Will your market be rising or falling, peaking or bottoming out? Find out in the latest edition of HTW's Property Clock. 

Markets on the rise

The national median property price continues to break record highs each month, thanks in large part to two interest rate cuts in 2025 that have stoked buyer demand around the country. 

It's no surprise, then, to see the majority of markets on HTW's Property Clock featuring on the 'rising' side of the graph.

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

The large cohort of cities and regions classified as rising markets also includes Perth and Adelaide, two of the nation's standout performers of recent years. 

Darwin's recent surge has landed it a spot as a rising market, and regional QLD areas like the Gold Coast, Cairns, Townsville, Rockhampton and Mackay are all on the up too.

Markets at or approaching their peak

Looking towards the top of the clock, it's interesting to see premium Queensland regional locations like the Sunshine Coast and Whitsundays being classified as 'approaching the peak of the market' after an extensive pandemic-driven boom.

Ipswich also appears to be nearing a peak, as are units in nearby Brisbane after a very strong 2024.

In terms of markets that HTW consider to be at peak levels, they believe Brisbane houses are at the top, though prices continue to rise from month to month.  

A number of inland regional locations also sit at the clock's peak including Tamworth, Toowoomba, Dubbo, Mildura and Mount Gambier. 

Markets declining or at the bottom

The declining segment of the Property Clock is where HTW injects some controversy.

Their picks of Launceston, Alice Springs, Shepparton and Port Macquarie as markets on a downswing are reasonable, but there's one selection that stands out. 

Both houses and units in Melbourne are considered to be declining markets — a fair assessment to make throughout 2024, but after two rate cuts in 2025, it seems clear that the tides have turned for the Victorian capital. 

Melbourne property prices rose by +1.2 per cent between March and May this year according to Cotality data, indicating a clear shift in momentum for the previously slumping city. 

Looking to the bottom of the clock at markets set to begin climbing, Hobart is joined by Sydney units and a number of NSW coastal spots including Ballina/Byron Bay, Coffs Harbour, the Illawarra, and Lismore. 

A different perspective from Domain

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 different picture to HTW's outlook, particularly for Melbourne.

According to Domain, the Victorian capital is firmly in the 'accelerating price rises' region as recent rate cuts fuel a rebound for the city. 

Sydney and Brisbane are also considered to be on a solid upswing, with Canberra beginning a bounceback of its own. 

Adelaide and Perth, the two runaway stars of Australian property in recent years, look to be experiencing a slowdown in growth as affordability worsens, though both cities are still delivering solid gains each month. 

Thinking of selling?

If you're looking to get in on the action in 2025, 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.