Regions affected by the downturn in the mining industry—such as Perth, Darwin, Gladstone, Alice Springs, Rockhampton, and Mackay—are approaching the bottom of the housing market, according to new data.

A number of regions—including South West Western Australia, Bundaberg, Emerald, and Townsville—have already hit the bottom of the housing market, according to the November 2016 National Property Clock from property valuation and advisory group Herron Todd White.  

In contrast, Tasmania dominated the areas where the housing market has started its recovery, with Hobart, Burnie, Devonport, and Launceston riding high on the list.

Median dwelling price growth has been solid in Tasmania in recent months, and the latest data from CoreLogic reveals that house prices rose 11.2% year-on-year, while unit values rose 19.1% during the same period. Tasmania also enjoys some of the highest rental yields in the nation, and property in the state is in high demand among lifestyle buyers and interstate investors.

Other regions on their road to recovery include Brisbane, Hervey Bay, Mount Gambier, and The Whitsundays.

Herron Todd White says the unit market will struggle a little more than the housing market next year, and markets affected by the downturn in the resources sector will suffer the greatest losses. Brisbane, Ballarat, and Toowoomba’s unit markets would start to decline, while Perth and Darwin’s unit markets were already declining.

Alice Springs, Rockhampton, Gladstone, and Mackay were approaching the bottom of the market.

Unit markets on the road to recovery include Burnie, Launceston, Devonport, Cairns, Hervey Bay, Mildura, and Mount Gambier.