Australia’s biggest losers

By |

Queensland's prominent tourist areas, including the Sunshine Coast, Cairns and the Gold Coast, are home to some of the country’s worst recent performing suburbs in both the unit and the house market, posting 12-month price falls of below -25%, according to RP Data.

A case in point is the Gold Coast’s Mermaid Beach, where the median price of houses has slipped -36% in the 12 months up to January. This is a fall equating to over $300,000. Other Gold Coast suburbs that experienced massive price falls on houses include Bundall, where over $180,000 has been shaved off of median prices.

The worst performing location on the list is Carey Bay, a suburb of Lake Macquarie, NSW. Thanks to -43% price falls, the suburb’s January 2012 median house price is lower than the median price at the start of 2010.

Golden Beach, Vic – within the Gippsland region and some 250km from Melbourne – has endured a similar fate, posting 12-month falls of -41%. In Golden Beach’s case, the negative growth of houses has been an established trend and prices have been falling dramatically in the last five years.

Like the housing market, the worst performers in the unit market are dominated by Queensland suburbs, which feature six of the top 10 suburbs where prices have been knocked back by more than -25%.

Including NSW, SA, WA and ACT, which each feature a top 10 suburb, the majority of worst performers are within small, regional towns where tourism has a major impact on the economy.    

 

WORST 12-MONTH PERFORMERS, HOUSES

 

Suburb

Median Price

Quarterly Growth

12 month Growth

5 Year Growth

CAREY BAY, NSW

$266,001

-1%

-43%

n.a

GOLDEN BEACH, VIC

$85,750

-14%

-41%

-46%

MERMAID BEACH, QLD

$900,000

-13%

-36%

-17%

ASCOT, QLD

$922,500

-5%

-27%

5%

BUNDALL, QLD

$707,500

-13%

-26%

-5%

KINGSCOTE, SA

$216,500

-8%

-25%

13%

BUDDINA, QLD

$476,250

-3%

-24%

-20%

WINDSOR, VIC

$807,500

-2%

-24%

30%

JAMESTOWN, SA

$193,250

n.a

-23%

43%

WEST WYALONG, NSW

$150,000

3%

-23%

-1%

 Source: RP Data, Jan 2012

 

WORST 12-MONTH PERFORMERS, UNITS

 

Suburb

Median Price

Quarterly Growth

12 month Growth

5 Year Growth

LYONS, ACT

326000

n.a

-39%

67%

GOLDEN BEACH, QLD

230000

-11%

-36%

-36%

WOODY POINT, QLD

301250

8%

-35%

21%

GOODWOOD, SA

337500

-2%

-29%

47%

SOUTH TOWNSVILLE, QLD

361700

-5%

-29%

7%

LAWNTON, QLD

248000

-4%

-28%

24%

NAMBOUR, QLD

220000

-4%

-28%

6%

YORKEYS KNOB, QLD

184750

-12%

-27%

0%

ARMADALE, WA

209000

0%

-27%

-7%

FOREST LODGE, NSW

491500

-12%

-26%

14%

 Source: RP Data, Jan 2012

For a more in-depth look into property markets and where they are going, grab a subscription to Your Investment Property magazine by clicking here.

Do you have more than $120k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : campsie , coburg north , berala , kariong , toowong

go back

Get help financing your investment



Do you need help finding the right loan for your investment?


When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here