Some Sydney Suburbs Have Dropped 10%
While some Melbourne suburbs also faced steep declines
< 1 min
With house prices across the country recording the first drop since September 2020, some Sydney suburbs have been affected more than others.
House prices in some northern beaches and inner west suburbs have nose-dived by as much as 10% in the past three months.
Narrabeen on the northern beaches has suffered the biggest drop of 10.1% or $321,542, Collaroy lost 8.3% or $272,750, and Collaroy Plateau dropped 7.7%, $208,576, according to data from CoreLogic.
In the inner west, suburbs such as Birchgrove have seen prices drop 9.4% or $298, 633, Strathfield South fell by 8.6% or 170,423 and Lilyfield lost 7.2% or $174,993.
Melbourne — which also suffered a property value decline of 0.8% in the three months to May — saw the biggest quarterly decline in Balaclava, Middle Park and St Kilda respectively where values fell by 7.4%, 6.5% and 6.2% respectively.
Elsewhere, capital cities of Brisbane rose by 4.6 per cent, Adelaide by 5.7 per cent and Perth by 2.7 per cent.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Scheduled auctions fall to winter levels as vendors hold back on going to market
< 1 min
Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.
The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.
With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
