Property prices don’t always go up and many markets that investors are encouraged into today are actually at the peak of their growth cycle. There are a number of suburbs listed in the negative growth report that might surprise you as they may have been touted as a hotspot for investors.
We identify the controversial suburbs that despite popular opinion have experienced a fall in values. Plus, we take a look at the areas in each state that have been hit hardest.
State by state: the areas that got hit the hardest
Nine house markets in Tasmania and 12-unit markets recorded negative price growth, the worst being the Launceston suburbs of Rocherlea and Trevallyn which respectively delivered a 12.5% decline in house prices, and a 25% drop for unit prices.
There seems to be a real phenomenon of investors driving the growth of some of the locations in Tasmania and, not local buyers. This can create a significant [...]