Surprising new data reveals the places with the 10 biggest falls – and 10 biggest rises – in property values, so where does your suburb rate?
- Canberra took four places in the top 10 biggest city suburbs property value falls
Property at Denman Prospect in Canberra suffered largest fall of -46.99 per cent
Hobart and Brisbane took four places each for the biggest property value jumps
Homes in Zuccoli, Darwin, increased the most in value with a 41.20 per cent rise
New data shows the suburbs in Australia’s major cities with the biggest rises and falls in property value this financial year, with Canberra homeowners taking the biggest hit.
A suburb-by-suburb analysis by PropTrack for The Australian revealed the lucky city suburbs that have risen by over 40 per cent in the past year – and the properties that plummeted by over 45 per cent.
The major city which took the biggest hit when comparing the 2020-2021 and 2021-2022 financial years was Canberra.
The major Australian city suburbs where property values both rose and fell the most over the past financial year have been revealed
Homes in Zuccoli, Darwin, took out first place in Australian house price values with houses rising 41.20 per cent in value (pictured, a house in Zuccoli)
Australia’s capital city suburbs took out four spots in the top 10 biggest property value falls, with Denman Prospect taking the number one spot after suffering a stunning -46.99 per cent loss in unit value.
Meanwhile, Brisbane and Hobart took four places each in the top 10 suburbs notching increased values.
The suburbs of Zuccoli in Darwin claimed first place with an increase of 41.20 per cent in house values, while the Hobart suburbs of Granton, Gagebrook, Old Beach and Margate took other top 10 places with big rises.
Brisbane’s Fig Tree Pocket came in second place with house values increasing 40.98 per cent, with Gumdale, New Farm and Woodford also placing in the top 10.
Sydney featured just once in either side’s top 10 valuations with the Northern Beaches suburb Bayview placing ninth in falls after suffering a 22.44 per cent drop in value of units.
Fig Tree Pocket in Brisbane took out second place in the biggest value increases with 40.98 per cent, alongside three other Brisbane suburbs (pictured, a house in Fig Tree Pocket)
St Kilda West notched the second biggest property value decrease in the 2021-2022 financial year suffering a -41.68 per cent loss (pictured, a unit in St Kilda West)
The popular coastal Melbourne suburbs of St Kilda and St Kilda West all fell on the biggest value loss chart.
West St Kilda suffered a 41.68 per cent loss while St Kilda West lost 26.50 per cent, both for unit values.
Houses in Glenelg, Adelaide, took eighth for the biggest property value rise with homes now worth 38.32 per cent more.
Perth took three places in the top 10 biggest losses with units in Wangara falling by -28.55 per cent, Woodlands -24.07 per cent and Erskine -21.27 per cent.
A surprising trend in the new data showed the top 10 largest increases in values was made up of prices for houses, rather than units.
By contrast, the top 10 properties with falling values were made up of unit prices only.
TOP 10 PROPERTY RISES IN MAJOR CITY SUBURBS
Zuccoli, Darwin, house, 41.20 per cent
Fig Tree Pocket, Brisbane, house, 40.98 per cent
Granton, Hobart, house, 40.53 per cent
Gumdale, Brisbane, house, 40.06 per cent
Gagebrook, Hobart, house, 39.53 per cent
New Farm, Brisbane, house, 39.47 per cent
Old Beach, Hobart, house, 38.74 per cent
Margate, Hobart, house, 38.53 per cent
Glenelg, Adelaide, house, 38.32 per cent
Woodford, Brisbane, house, 38.17 per cent
TOP 10 PROPERTY FALLS IN MAJOR CITY SUBURBS
Denman Prospect, Canberra, unit, -46.99 per cent
St Kilda West, Melbourne, unit, -41.68 per cent
Reid, Canberra, unit, -37.10 per cent
Wangara, Perth, unit, -28.55 per cent
St Kilda, Melbourne, unit, -26.50 per cent
Woodlands, Perth, unit, -24.07 per cent
Coombs, Canberra, unit, -23.93 per cent
Macquarie, Canberra, unit, -23.56 per cent
Bayview, Sydney, unit, -22.44 per cent
Erskine, Perth, unit, -21.27 per cent