Sunday Fin review listed by % the top falls out of the mill dollar club by suburbs, and Perth lead off with the top 4.
12 mth falls
Andross 26.4%
South freemantle 24.76%
Cottesloe 23.45%
Rossmonye 20.64%funny thing is though that "Hegney Partners Group director ..said that they had seen falling values as far back as 2006….BUT "I think price falls have stabilised as we starting to see buying activity which hasn't come through in the figures yet…"
if only he had just said there has never been a better time to buy… it would have been a perfect response
actaully no other state cracked 20% NSW's best was 18.60 (note other suburbs may have fallen more but the article listed only those that had dropped under $1M )
gmh454 wrote:Sunday Fin review listed by % the top falls out of the mill dollar club by suburbs, and Perth lead off with the top 4.South freemantle 24.76%
Median prices are not telling the real story, if anything property prices in South Fremantle actually went up last year. Median prices got screwed up when the South Beach estate opened up and artificially inflated the median prices with dozens of new $1.5M+ beachside properties hitting the market in the previous 2-3 years. Taking them out of the equation would remove the spike and put the real growth/fall much closer to the neighboring suburbs of Fremantle, East Fremantle and White Gum Valley.
The same thing is now happening next door in North Beach aka North Coogee where the new beachside estate has pushed up the medians above $1.2M or up by 37%. (strange choice for a name because North Beach is actually just South of the South Beach
)A few other suburbs on that list got there after new estates with average 500sqm lots lowered the medians of mainly lifestyle acreage property suburbs. I'm not saying that all the medians were wrong but any median that fell more then the WA average is suspicious.
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