Some suburbs in Sydney, Perth and Brisbane saw median house and unit prices drop by anywhere between $200,000 and $500,000 - and while that’s bad news for sellers, it’s a great opportunity for buyers to pick up a bargain.
Also read: These suburbs gained 30% in value in 2019
Here’s where 2019 saw its biggest losses:
Woollahra in Sydney’s eastern suburbs saw its median house price drop $501,887, or 15.2 per cent, to a median of $2.8 million.
Cremorne in Sydney’s northern beaches saw median house prices drop around $486,000, while Cronulla also saw median house prices fall by $477,000.
Paddington, Mosman and Northbridge also recorded median house price falls of at least $228,000.
When it came to unit prices, Darling Point recorded a median fall of over $300,000, to sink to $1.87 million.
Ascot in Queensland’s Bayside North area saw house prices drop $230,000 to a median of $1.3 million, while Auchenflower in Brisbane’s west saw median house prices drop by $120,345.
Applecross in Perth’s southwest recorded median house price falls of a whopping $255,600 to a median of $1.2 million.
In Perth’s beach suburb of Cottesloe, the median house price dropped by $246,180 to a median of $1.865 million.
While Melbourne didn’t record losses of over $200,000, Burwood in inner east saw a median house price fall of $169,695, to come down to $1.047 million.
Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.