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Down $325k: 20 regional suburbs seeing the biggest property price falls

·Personal Finance Editor
·2-min read
An open home sign on the sidewalk demonstrating a home is for sale and a row of houses in an Australian suburb.
Some regional suburbs have been major price drops. (Source: Getty)

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.

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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