Home prices have taken a significant hit in 124 suburbs across Australia, with some areas experiencing drops of up to 55%. The data reveals a housing crisis, with 14 suburbs in Victoria, 14 in Greater Melbourne, 26 in Greater Sydney, 11 in regional New South Wales, 21 in the ACT, 10 in the Northern Territory, and just two in Queensland suffering double-digit percentage declines. Victoria dominated the worst-performing markets, with 40 suburbs on the list, including Apollo Bay, Venus Bay, Lorne, and more. The data also highlights the impact on unit prices, with Millers Point in Sydney experiencing a 55% plunge, and Kilmore in Victoria seeing a 55% drop. The full list of suburbs with median prices falling is provided, with a focus on the worst-hit areas in Victoria, New South Wales, the ACT, the Northern Territory, and Queensland. The data excludes low-confidence valuations and provides a comprehensive overview of the housing market's current state.
