Anecdotal evidence from Darwin and Palmerston's mortgage belt, as well as the rural residential sector, would appear to indicate that the huge rise in value levels experienced over the last six years has reached its plateau, according to independent property advisers Herron Todd White.

The last three months had seen a distinct change in property market sentiment, and prompted independent property advisers Herron Todd White to question whether the bell was ringing on property markets across Australia

Commenting on the nation-wide study contained in the firm's April Month in Review publication, Herron Todd White Research Director Rick Carr said that most mortgage belt suburbs across the country were struggling.

"However, there are many other suburbs and sectors that are slowing, but still experiencing robust conditions," Mr Carr said.

According to Director of Herron Todd White Darwin, Terry Roth, there was a noticeable reduction in the sense of urgency so often displayed by the buying market in the boom times.

"Instead, the buying market appears to be much more informed or much more willing to turn and walk from vendors with high expectations, which are now becoming out of date," he said.

On whether the Darwin market has peaked, Mr Roth argued that it was simply too early to tell.

"Whilst early signs would indicate that it is the case for much of the mortgage belt, we haven't seen what impact the interest rate raises and negative economic press will have on major developments like the Water Front and Lyons," he said.

According to Mr Roth, Darwin was a city with very favourable long term growth forecast due partly to additional major projects such as possible further development of Timor Sea gas fields, coupled with a sustained tourism sector and a strong rental market.

"Poor performing alternative investment markets such as shares, could fuel the continued slow growth through certain sectors of the market," Mr Roth said.

Herron Todd White is Australia's largest independent property advisory and valuation firm with 44 offices across the nation and more than 500 staff.