Down $300k: 40 city suburbs where property prices are plummeting

Some capital city suburbs are seeing major price falls. (Source: Getty)

Property prices are plummeting around the country and some suburbs are seeing major price falls.

Exclusive data provided to Yahoo Finance from CoreLogic identified which capital city suburbs had seen prices fall the most in the past quarter.

Unsurprisingly, many of the suburbs were those where property prices were significantly higher than the national average.

• Also read: Top 20 desirable suburbs to buy under $580,000

• Also read: The regional areas where property prices are falling the most

• Also read: What renters can expect now property markets are falling

Sydney’s Northern Beaches saw the biggest price drops, with median home values in Terrey Hills dropping 11.9 per cent to $2,259,602, equating to a fall of more than $300,000 in three months.

Aussie property prices suffered their fourth consecutive month of declines in August, marking the biggest drop in 39 years.

CoreLogic’s national Home Value Index recorded a 1.6 per cent fall over the month.

40 suburbs where home prices have fallen the most

Sydney

1. Terrey Hills, Northern Beaches - down 11.9 per cent to $2,259,602

2. Kurnell, Sutherland - down 11.9 per cent to $1,636,501

3. Balgowlah Heights, Northern Beaches - down 11.7 per cent to $3,975,348

4. Berowra Heights, Northern Sydney - down 11.5 per cent to $1,272,415

5. Seaforth, Northern Beaches - down 11.4 per cent to $3,249,807

Melbourne

1. Plenty, North East - down 9.7 per cent to $1,490,507

2. Somers, Mornington Peninsula - down 8.9 per cent to $1,456,761

3. Malvern East, Inner South - down 8.7 per cent to $1,183,216

4. Hurstbridge, North East - down 8.6 per cent to $897,021

5. Travancore, Inner - down 8.5 per cent to $353,092

Brisbane

1. Wilston, Inner City - down 9.3 per cent to $1,304,347

2. Fairfield, South - down 8.7 per cent to $1,043,294

3. Hawthorne, Inner City, down 8.3 per cent to $1,497,596

4. Salisbury, South - down 7.8 per cent to $836,232

5. Mackenzie, South - down 7.6 per cent to $1,225,283

Adelaide

1. Fulham, West - down 3.9 per cent to $1,093,921

2. Netley, West - down 3.2 per cent to $748,996

3. Semaphore South, West - down 3.1 per cent to $852,309

4. Rosslyn Park, Central and Hills - down 2.9 per cent to $1,347,288

5. Leabrook, Central and Hills - down 2.9 per cent to $1,493,383

Perth

1. Guildford, North East - down 4.2 per cent to $508,041

2. Swanbourne, Inner - down 3.6 per cent to $2,038,513

3. Gooseberry Hill, South East - down 2.8 per cent to $828,078

4. Woodbridge, North East - down 2.7 per cent to $470,727

5. Kalamunda, South East - down 2.6 per cent to $737,709

Hobart

1. Kingston Beach - down 8 per cent to $816,293

2. Lauderdale - down 6.9 per cent to $844,300

3. Blackmans Bay - down 6.1 per cent to $863,286

4. Kingston - down 5.8 per cent to $708,181

5. Sandy Bay - down 5.4 per cent to $1,121,348

Darwin

1. Jingili - down 3 per cent to $540,847

2. Alawa - down 2 per cent to $518,008

3. Ludmilla - down 1.4 per cent to $624,165

4. Driver - down 1.2 per cent to $439,377

5. Fannie Bay - down 1.2 per cent to $576,210

Canberra

1. Fraser - down 8.1 per cent to $1,007,927

2. Torrens - down 8.1 per cent to $1,123,757

3. Farrer - down 6.8 per cent to $1,279,138

4. Curtin - down 5.9 per cent to $1,310,080

5. Pearce - down 5.8 per cent to $1,216,439

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