The next boom? Real estate expert reveals his top suburbs to watch and when the housing market is going to rebound
- Australia's tumbling house prices are set to continue for another 12 months
- But according to a real estate expert they could rebound by the end of 2019
- He also named his hot suburbs to watch in Australia's major population areas
- Putney in Sydney and Melbourne's Bonbeach were two of experts top picks
Australia's tumbling house prices are set for another rough 12 months but will rebound at the end of next year, according to a real estate expert.
Veteran real estate agent John McGrath said the housing market's downturn will continue into 2019 with more than 10 per cent falls in Sydney and Melbourne.
'I think it will be double-digit (falls in Sydney and Melbourne peak to trough) and there is few per cent to go. It feels like we haven't reached rock bottom,' Mr McGrath told The Weekend Australian.

Australia tumbling house prices are set for another rough 12 months but will rebound at the end of next year according to real estate expert John McGrath - with Putney (pictured) his hot tip for price growth in Sydney

In Melbourne, meanwhile, the water-facing suburb of Bonbeach (pictured) is Mr McGrath his hot-tip for soaring prices in the next year
But with next year's federal election expected to give more clarity to housing policy, including in areas such as negative gearing, Mr McGrath said he expected prices to increase by as much four per cent by year's end.
He also named his suburbs to watch in some of Australia's major population areas - Sydney, Brisbane and its surrounds, Melbourne and Canberra.
Topping the Sydney list in his annual report were the gentrified neighbouring suburbs of Putney and Hunters Hill, as well as Avalon Beach, Palm Beach and Maroubra.
In Melbourne, meanwhile, the water-facing suburb of Bonbeach is his hot-tip for soaring prices in the next year.
The highly-respected agent also picked Thornbury in the city's north and Box Hill for its transport connections.
Maroochydore, at the centre of the Sunshine Coast's economy, is Mr McGrath's hot-tip for Brisbane and the surrounding regions.

Maroochydore (pictured), at the centre of the Sunshine Coast's economy, is Mr McGrath's hot-tip for Brisbane and the surrounding regions

Canberra's Campbell (pictured) is also highly regarded by the real estate agent in his report of Australia's other major urban areas
He told The Weekend Australian cheap housing in Queensland would lead to a jump in prices as migration to the area continues to increase.
Mr McGrath said he believed Sydney's house prices had already fallen by around half of their expected amount of 15 per cent since 2017.
'If it stabilises at those levels (15 per cent) then that's not a bad outcome,' he said.
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