McGrath Predicts Metropolitan Property Market Bottom After 15 Percent Drop
Major Australian metropolitan property markets are down 10 to 15 per cent over the past six months, according to the McGrath Report 2027 released by McGrath Estate Agents founder and CEO John McGrath. The real estate guru describes this downturn as the fastest fall in values he can remember across eight market corrections since he entered the industry more than 40 years ago. Despite single-digit drops reported by data companies, street-level declines reach up to 20 per cent in select areas, though historical trends indicate major cities are now approaching the bottom of the free fall.
Forty Suburbs Targeted for Growth Across Four States
The newly published 2027 report identifies 40 metropolitan and regional suburbs expected to experience growth across New South Wales, Victoria, Queensland, and Tasmania. In New South Wales, McGrath highlights Campsie in the metropolitan sector, drawing parallels to Marrickville’s past transformation, alongside the south coast regional town of Narooma, where median house prices sit at $990,000 near Justin Hemmes’ Merivale Group motel development, The Whale.
Victorian and Tasmanian Hotspots Offer Affordability and High Yields
Victorian selections focus on Sunshine, offering diverse housing stock near established amenities, and the regional Murray River hub of Mildura. Mildura’s population is projected to reach over 66,000 residents by 2046, up from 56,792 in 2021, with employment forecast to climb 26.5 per cent between 2026 and 2046. In Tasmania, Chigwell features median house values just over $600,000 with a 5.3 per cent rental yield, while Launceston’s Mayfield records median house prices below $530,000 following a 27.9 per cent value increase last year and yields around 5.6 per cent.
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