Home affordability has taken a hit in suburbs across capital cities over the last few years, according to CoreLogic’s Mapping the Market report.
The share of Sydney suburbs with a median house value of over $2m rose from 3.2% in June 2014 to 10.6% in June 2019, while the share of suburbs with a unit median value below $500,000 dropped from 53.1% to 31.4%, the report showed.
In Melbourne, the share of suburbs with a median house value less than $500,000 fell from 41.7% to 6.9%, while the share of suburbs with a median unit value of more than $500,000 climbed from 25.3% to 57.2%, according to the report.
The share of suburbs of Brisbane with a median house price below $500,000 declined from 52.4% to 40.3%, while the share of suburb units with a median value of over $500,000 rose from 8% to 12.5%, the report showed.
In Adelaide, the share of suburbs with a median house value below $1m decreased from 97.7% to 93.7%. The share of suburbs with a unit median price under $250,000 also fell from 26% to 21.5%, according to the report.
The share of Perth suburbs with a median house value over $1m dropped from 15% to 10.3%, while the share of suburbs with a median unit price less than $250,000 rose from 15.8% to 25.9%, the report showed.
In Darwin, the share of suburbs with a median house value under $500,000 increased from 30.5% to 65.9%. The share of suburbs with a unit median price above $500,000 fell from 14.8% to 6.6%, according to the report.
The share of Hobart suburbs with a median house price over $500,000 increased from 8.8% to 50.4%. The share of suburbs with a unit median value under $250,000 fell from 46.2% to 9.7%, the report showed.
In Canberra, the share of suburbs with a median house value over $1m increased from 6.7% to 11.4%, while the suburbs with a median unit value under $500,000 dropped from 87.6% to 70.5%, according to the report.
