Down $325k: 20 regional suburbs seeing the biggest property price falls
Property prices are on the decline, with regional suburbs seeing some major falls after reaching a peak during the pandemic.
Some sought-after regional areas saw massive price jumps as Aussies looked to make a sea or tree change during the COVID-19 lockdowns.
But now those prices are pulling back.
Also read: Down $300k: 40 city suburbs where prices are plummeting
Also read: The regional areas where property prices are falling the most
Exclusive data - provided to Yahoo Finance from CoreLogic - determined which suburbs had seen the biggest price drops in the past three months.
The regional suburb of Bangalow, in the Richmond-Tweed area of New South Wales, saw the biggest drop with home prices down 15.4 per cent in the quarter to $1,789,177 - equal to a fall of more than $325,000.
Where are prices falling the most?
Unsurprisingly, regional areas in NSW dominated the list, after seeing the biggest price hikes since 2020.
In fact, NSW took up 18 of the 20 spots on the list.
Here are where prices have fallen the most.
Rank | Suburb | Area | State | Median value | Quarterly growth |
1 | Bangalow | Richmond - Tweed | NSW | $1,789,177 | -15.4% |
2 | Coraki | Richmond - Tweed | NSW | $346,966 | -14.6% |
3 | Ocean Shores | Richmond - Tweed | NSW | $1,363,822 | -13.0% |
4 | Clunes | Richmond - Tweed | NSW | $1,009,122 | -11.9% |
5 | Lismore Heights | Richmond - Tweed | NSW | $504,225 | -11.5% |
6 | Launceston | North East | TAS | $665,521 | -10.7% |
7 | Alstonville | Richmond - Tweed | NSW | $826,463 | -10.4% |
8 | Lismore | Richmond - Tweed | NSW | $476,230 | -10.4% |
9 | Skennars Head | Richmond - Tweed | NSW | $1,560,651 | -10.4% |
10 | Mullumbimby | Richmond - Tweed | NSW | $1,245,580 | -10.0% |
11 | Nimbin | Richmond - Tweed | NSW | $637,936 | -10.0% |
12 | Girards Hill | Richmond - Tweed | NSW | $490,177 | -9.9% |
13 | South Lismore | Richmond - Tweed | NSW | $454,077 | -9.8% |
14 | Cumbalum | Richmond - Tweed | NSW | $1,256,870 | -9.7% |
15 | Ballina | Richmond - Tweed | NSW | $888,266 | -9.6% |
16 | Lennox Head | Richmond - Tweed | NSW | $1,547,543 | -9.5% |
17 | Kuluin | Sunshine Coast | QLD | $738,224 | -9.5% |
18 | Burrill Lake | Southern Highlands | NSW | $861,351 | -9.5% |
19 | West Ballina | Richmond - Tweed | NSW | $949,512 | -9.4% |
20 | Brunswick Heads | Richmond - Tweed | NSW | $1,351,209 | -9.4% |
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