Biggest bargains: Suburbs where house prices dropped more than $200k in 2019

Median house prices in these suburbs dropped over $200,000. Source: Getty

While some suburbs saw whopping house price increases in 2019, and others are expected to grow by six-figures in the year to come, homeowners in some locations weren’t so lucky.

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

• Also read: Suburbs where 100% of homes sell at a profit, and those where hardly any do

Here’s where 2019 saw its biggest losses:

Sydney

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.

Queensland

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.

Western Australia

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.

Melbourne

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.

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