Invest
10 markets reversing the property trend
Despite strong national growth grabbing headlines, not all suburbs are currently booming, with the pandemic continuing to drag down markets, an industry expert has revealed.
10 markets reversing the property trend
Despite strong national growth grabbing headlines, not all suburbs are currently booming, with the pandemic continuing to drag down markets, an industry expert has revealed.

According to REA Insights, many local areas are still being impacted by falls in tourism, international migration and youth employment issues.
Nationally, the market has shown strong growth, with the latest CoreLogic figures showing overall the housing market has increased by 2.1 per cent.
The strong growth rate has economists, including Commonwealth Bank’s Gareth Aird, predicting national house prices would rise by 16 per cent over the next two years.
According to Commonwealth Bank, national housing prices will lift by 9 per cent in 2021 and a further 7 per cent in 2022.

However, REA chief economist Nerida Conisbee highlighted to investors that not all markets are currently booming.
Largest price declines by suburb
12 months to January 2021
Type |
Median |
% change |
||
CAIRNS NORTH |
QLD |
Unit |
$220,000 |
-12% |
AUBURN |
NSW |
Unit |
$500,000 |
-12% |
REDFERN |
NSW |
Unit |
$852,500 |
-10% |
BURPENGARY EAST |
QLD |
House |
$562,500 |
-9% |
TOORAK |
VIC |
Unit |
$925,000 |
-9% |
CARLTON |
VIC |
Unit |
$350,000 |
-8% |
DALYELLUP |
WA |
House |
$350,000 |
-8% |
NEWPORT |
QLD |
House |
$775,000 |
-7% |
PARRAMATTA |
NSW |
Unit |
$570,000 |
-7% |
FREMANTLE |
WA |
House |
$840,000 |
-7% |
According to Ms Conisbee, some of these regions are being impacted by border closures that are seeing a spike in unemployment and falling rental yields.
“Many of the suburbs on the list are weak rental markets. This is particularly the case for those areas that are reliant on younger renters and those more exposed to hospitality, education and tourism, as well as areas where there are typically lots of students, both international and local,” she said.
“While regional Australia is the place to be right now, Cairns is yet to receive an uplift with prices still falling overall for the city, and Cairns North units being the weakest performer at a suburb level over the past 12 months.”
The chief economist pointed out localised factors as well as changing consumer preferences, post lockdown, could also be impacting these markets.
“Premium suburbs are overall doing very well, however Melbourne’s prolonged lockdown appears to have delayed Melbourne’s luxury recovery. Median prices for houses and units have declined in toorak,” she concluded.
About the author

About the author


Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more

Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more