Invest
10 years on: which properties doubled their purchase price, and which didn’t?
Invest
10 years on: which properties doubled their purchase price, and which didn’t?
The latest Property Pulse from CoreLogic shows the areas where the value of their purchase price doubled, which fell by 10 per cent, and what that means in the long run.
10 years on: which properties doubled their purchase price, and which didn’t?
The latest Property Pulse from CoreLogic shows the areas where the value of their purchase price doubled, which fell by 10 per cent, and what that means in the long run.
Tim Lawless, CoreLogic’s head of research, said strong capital gains in Sydney and Melbourne over the last 10 years “have created a significant boost in wealth for home owners who were fortunate enough to own a property through the latest growth cycles”.
Properties that haven’t been so successful and have seen a fall in value of their purchase price, however, are especially evident in areas that heavily rely on the mining sector.
The overall proportion of dwellings where property value is at least double its purchase price, according to CoreLogic data, has fallen to 39.1 per cent, down from 45.4 per cent last year.
The highest benefactor of properties worth double their purchase price are those in Sydney with 48.1 per cent of all dwellings, up from 37.2 per cent in 2007, followed by Melbourne at 47.3 per cent, up from 38.1 per cent in 2007.
Meanwhile, the area with the highest proportion of properties worth 10 per cent less than their purchase price after 10 years is regional Western Australia at 17 per cent.
This is a stark difference to 10 years ago in the early stages of the mining boom, where only 2.3 per cent of dwellings were worth 10 per cent less than their purchase price.
Suburbs which have seen the largest proportions of falling values over the last 10 years include Queensland’s Dysart and Gladstone Central at 65.7 per cent and 64.2 per cent respectively, then Western Australia’s South Hedland at 64 per cent.
However, it is not all happy days for Sydney and Melbourne and doom and gloom for these once thriving mining areas, as Mr Lawless has said that conditions are pointing to the end of their cycle.
“As growth eases across Sydney and, to a lesser extent Melbourne, we may start to see a slow reversal of these trends,” he says.
“It will be harder to double the value of a property in Sydney and Melbourne after such a sustained period of high capital gains, however markets such as Hobart and Canberra, which have gathered some momentum, are likely to see home owners benefit from improved capital gains that is likely to boost their overall wealth profile.
“Similarly, the worst appears to have passed across the mining sector … [as] transaction numbers are generally rising and advertised stock levels are reducing which should help to promote some value recovery in these regions … although it is likely to take many years before property values recover to their previous highs in many of these regions.”
RELATED ARTICLES
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
