Home buyers looking to enter the market are being told houses in Perth and Brisbane will offer 'bang for your buck' as the roll back of the first home owners grant boost has had little effect on the lower-end of the market.
In its property outlook for 2010, Australian Property Monitors said today that those wanting to buy in Perth or Brisbane should act soon, as prices are likely to recover next year.
"Queensland and Western Australia's increased exposure to the downturns in both the resource and tourism sectors has meant that price recovery for both houses and units has trailed other states," APM economist Matthew Bell said.
"However, it's important to move now, as prices are likely to recovery in early 2010."
Dwellings in Perth that offer the most value are houses in Halls Head and Nollamara, and units in Mandurah.
"There are also opportunities in regions of Sydney and Melbourne where prices stil remain under late 2007 levels even after the strong growth of the last six months," Mr Bell said.
Overall, APM said property owners will continue to see their investment grow next year, with house prices already exceeding pre-global financial crisis levels nationally by nearly 3 per cent.
Property markets in Sydney and Melbourne had led the recovery, with Melbourne in particular recording a 12.5 per cent rise in house prices since March.
