PHOTO: Property Markets

Property markets in Australia are a mixed bag, with house price growth in some cities rising dramatically while others have fallen just as startlingly.

For instance, property investors who placed their bets in Geelong or in Hobart three years ago will be rewarded for it handsomely, with median house prices in these cities rising by 29.9 per cent and 29.2 per cent respectively.

Property investors who purchased a dwelling in Byron Bay or Ballarat will also be pleased with their purchases as house values rose by 27 per cent and 23.8 per cent in the last three years.

However, it’s a very different picture for Port Hedland and Geraldton property investors, who would have seen their house values fall by 45 per cent and 20.3 per cent on average.

In June 2016, Mount Isa and Whyalla would have been bad investments too, with median house prices falling 22 per cent and 21 per cent since then.

Geraldton (-20.3 per cent) and Gladstone (-18.9 per cent) would have resulted in losses, too.

Property Market