{"id":16281,"date":"2024-06-27T16:18:48","date_gmt":"2024-06-27T04:48:48","guid":{"rendered":"http:\/\/quantiphy.com.au\/oldbackup\/?p=16281"},"modified":"2024-06-27T16:20:39","modified_gmt":"2024-06-27T04:50:39","slug":"the-once-booming-suburbs-where-prices-have-come-back-down-to-earth","status":"publish","type":"post","link":"https:\/\/quantiphy.com.au\/oldbackup\/the-once-booming-suburbs-where-prices-have-come-back-down-to-earth\/","title":{"rendered":"The once-booming suburbs where prices have come back down to Earth"},"content":{"rendered":"<p>What goes up that must come down? Sydney\u2019s house value growth, and just about everything else other than your age. Sorry.<\/p>\n<p>While property price tags across Australia continue to break records, median house and unit prices in some once-booming suburbs of Sydney and beyond have regressed, offering potential buyers more affordable options at a time when they\u2019re needed most.<\/p>\n<p>PropTrack\u2019s latest data shows a host of suburbs where prices declined significantly between May 2023 to May 2024 after experiencing huge growth in the year preceding.<\/p>\n<p>For some holiday hotspots like Noosa Heads, higher interest rates, the ability to travel internationally and council restrictions on Airbnbs have impacted once soaring values, losing the lustre of their mid-pandemic sea change allure. Essentially, experiencing what every Gen Z-er fears the most \u2013 a glow down. Here, unit prices increased 41% (approx. $550,000) in the year to May 2023 before falling about -17%, or $317,500, in the past year.<\/p>\n<p>Closer to home, in Sydney, two suburbs in the Baulkham Hills and Hawkesbury region have landed themselves on the list of suburbs with the biggest house price swings. Glenorie, 44 kilometres north-west of Sydney\u2019s CBD, saw a 19.1% increase of $450,000 in the year to May 2023 to reach $2.8 million, but a year later, homes are selling for -10.4% ($290K) cheaper, with the median now at around $2,510,000.<\/p>\n<p>It&#8217;s a similar story in the neighbouring suburb of Glenhaven, where the median house price rose 15.9% between May \u201922 to \u201923 before coming down -6.1% closer to earth over the past year.<\/p>\n<p>Regionally, once booming suburbs in NSW have seen prices decline as demand has normalised post covid. In Tocumwal, a small town in the Murray region of NSW nudging the border with Victoria, the median price fell -22% to $477,500 over the year after experiencing a soaring 42% rise to $615,000 between 2022-2023. Far south, straddling the coastal border of NSW and VIC, prices in Merimbula are down -11.3% to $862,500.<\/p>\n<p>Up North, in Tweed Heads West and Tweed Heads South, house property prices increased upwards of 17% as interest in the more expensive Tweed Heads suburb spilled over. Now, with prices down -18.7%, that growth has been completely wiped out.<\/p>\n<div class=\"bt_bb_row\" data-structure=\"12\">\n<div class=\"bt_bb_column col-md-12 col-ms-12 bt_bb_align_left bt_bb_vertical_align_top bt_bb_padding_normal\" data-width=\"12\">\n<div class=\"bt_bb_column_content\">\n<div class=\"bt_bb_separator bt_bb_bottom_spacing_small bt_bb_border_style_none\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"bt_bb_row_wrapper bt_bb_row_width_boxed_1200\">\n<div class=\"bt_bb_row\" data-structure=\"2-4-4-2\">\n<div class=\"bt_bb_column col-md-2 col-sm-4 col-ms-12 bt_bb_align_left bt_bb_vertical_align_top bt_bb_padding_normal\" data-width=\"2\">\n<div class=\"bt_bb_column_content\"><\/div>\n<\/div>\n<div class=\"bt_bb_column col-md-4 col-ms-12 bt_bb_align_center bt_bb_vertical_align_top bt_bb_padding_double bt_bb_highlight\" data-width=\"4\">\n<div class=\"bt_bb_column_content\">\n<div class=\"bt_bb_separator bt_bb_bottom_spacing_small bt_bb_border_style_none\"><\/div>\n<div class=\"bt_bb_separator bt_bb_bottom_spacing_small bt_bb_border_style_none\"><\/div>\n<div class=\"bt_bb_text\">\n<h6>Speak To An Expert<\/h6>\n<p>Schedule in a time to discuss your situation with a home loan specialist<\/p>\n<\/div>\n<div class=\"bt_bb_separator bt_bb_bottom_spacing_normal bt_bb_border_style_none\"><\/div>\n<div class=\"bt_bb_button bto btop bt_bb_icon_position_left bt_bb_color_scheme_14 bt_bb_style_filled bt_bb_width_inline bt_bb_shape_inherit bt_bb_size_normal bt_bb_align_inherit\" data-bt-override-class=\"{&quot;bt_bb_size_&quot;:{&quot;current_class&quot;:&quot;bt_bb_size_normal&quot;,&quot;xl&quot;:&quot;normal&quot;},&quot;bt_bb_align_&quot;:{&quot;current_class&quot;:&quot;bt_bb_align_inherit&quot;,&quot;xl&quot;:&quot;inherit&quot;}}\"><a class=\"bt_bb_link\" title=\"BOOK IN A CALL\" href=\"\/finance\/book-a-chat-with-tommy-biller\/\" target=\"_self\" rel=\"noopener noreferrer\"><span class=\"bt_bb_button_text\">BOOK IN A CALL<\/span><\/a><\/div>\n<div class=\"bt_bb_separator bt_bb_bottom_spacing_normal bt_bb_border_style_none\"><\/div>\n<\/div>\n<\/div>\n<div class=\"bt_bb_column col-md-4 col-ms-12 bt_bb_align_center bt_bb_vertical_align_top bt_bb_padding_double bt_bb_highlight\" data-width=\"4\">\n<div class=\"bt_bb_column_content\"><\/div>\n<\/div>\n<div class=\"bt_bb_column col-md-2 col-sm-4 col-ms-12 bt_bb_align_center bt_bb_vertical_align_top bt_bb_padding_double bt_bb_highlight\" data-width=\"2\">\n<div class=\"bt_bb_column_content\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"bt_bb_separator bt_bb_bottom_spacing_small bt_bb_border_style_none\"><\/div>\n<p>Despite record-breaking rents across Sydney, some inner-city suburbs are offering a window of opportunity amidst their post-high comedown. Petersham\u2019s median unit price has swung from a 15.1% increase between May 2022 \u2013 2023 to -14.8% the following year. Nearby Annandale is a similar story, where after experiencing a 13.3% rise in value, median unit prices have dropped -14.2% to $952,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What goes up that must come down? Sydney\u2019s house value growth, and just about everything else other than your age. Sorry. While property price tags across Australia continue to break records, median house and unit prices in some once-booming suburbs of Sydney and beyond have regressed, offering potential buyers more affordable options at a time&#8230;<\/p>\n","protected":false},"author":4,"featured_media":16283,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-16281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The once-booming suburbs where prices have come back down to Earth - Quantiphy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aus-finance.com.au\/gazette\/the-once-booming-suburbs-where-prices-have-come-back-down-to-earth\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The once-booming suburbs where prices have come back down to Earth - Quantiphy\" \/>\n<meta property=\"og:description\" content=\"What goes up that must come down? 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