Sale drops
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Median -
Sale rises
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Median -
Suburbs
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Properties
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Since last week, price rise tracking has been added alongside drops.
The big picture
- Biggest $ drop: -$1.4M (327 Union Rd, Balwyn VIC, 5BR house, $5.2M → $3.8M)
- Biggest $ rise: +$1.58M (13-15 Kembla St, Hawthorn VIC)
- Total price reductions: ~$167M
- Total price increases: ~$52M
- Average drop: 4.8% | Average rise: 4.8%
- Properties tracked: 76K listings across 1,446 suburbs
Breakdown by state
| State | Listings | Drops | Avg drop | Rises | Avg rise |
|---|---|---|---|---|---|
| NSW | 26,594 | 980 | 4.6% | 215 | 4.5% |
| VIC | 39,777 | 1,047 | 5.2% | 382 | 4.7% |
| QLD | 9,362 | 247 | 4.4% | 24 | 7.1% |
Top 10 biggest drops by %
| # | Address | Beds | Type | Was | Now | Drop | % |
|---|---|---|---|---|---|---|---|
| 1 | 20 Lerderderg Park Rd, Merrimu VIC | 4 | House | $2.3M | $1.65M | -$651K | -28% |
| 2 | 327 Union Rd, Balwyn VIC | 5 | House | $5.2M | $3.8M | -$1.4M | -27% |
| 3 | 5 Joami St, Cheltenham VIC | 9 | House | $1.8M | $1.35M | -$450K | -25% |
| 4 | 3411/9 Power St, Southbank VIC | 1 | Apt | $549K | $425K | -$124K | -23% |
| 5 | 10/42-44 Walz St, Rockdale NSW | 2 | Apt | $945K | $750K | -$195K | -21% |
| 6 | 113 Cave Hill Rd, Lilydale VIC | 3 | House | $990K | $790K | -$200K | -20% |
| 7 | 27 Palmers Hill Rd, Merricks Beach VIC | 3 | House | $1.55M | $1.25M | -$300K | -19% |
| 8 | 12B Clough Parade, Reservoir VIC | 4 | House | $1.05M | $850K | -$200K | -19% |
| 9 | 20 Taylors Lane, Ewingsdale NSW | 7 | House | $4.3M | $3.5M | -$800K | -19% |
| 10 | 9 Oceanfront Drive, Sapphire Beach NSW | 3 | House | $2.7M | $2.2M | -$495K | -18% |
Top 10 biggest rises by %
| # | Address | Beds | Type | Was | Now | Rise | % |
|---|---|---|---|---|---|---|---|
| 1 | 5-9 Gordon Ave, Chatswood NSW | 2 | Apt | $1.28M | $1.86M | +$583K | +46% |
| 2 | 1 Hinkler Ave, Caringbah NSW | 2 | Apt | $740K | $970K | +$230K | +31% |
| 3 | 67 Phillips St, Coburg VIC | 4 | House | $1.5M | $1.93M | +$425K | +28% |
| 4 | 5/9 Long Valley Way, Doncaster East VIC | 3 | Apt | $750K | $950K | +$200K | +27% |
| 5 | 245 Mascoma St, Strathmore VIC | 3 | House | $1.0M | $1.27M | +$265K | +27% |
| 6 | 6/392 Severin St, Parramatta Park QLD | 2 | Apt | $300K | $379K | +$79K | +26% |
| 7 | 11 Longview Rd, Keysborough VIC | 5 | House | $1.53M | $1.9M | +$370K | +24% |
| 8 | 98 Nicholson St, Brunswick East VIC | 2 | Apt | $420K | $520K | +$100K | +24% |
| 9 | 85-89 Birch St, Manunda QLD | 2 | Apt | $300K | $370K | +$70K | +23% |
| 10 | 52 Cumberland Rd, Pascoe Vale VIC | 4 | House | $1.35M | $1.63M | +$280K | +21% |
Key observations
- VIC is seeing the heaviest discounting: 5.2% average drop, with Melbourne CBD leading at 45 drops alone
- Premium properties ($2M+) are cutting deeper at 6.1% average vs 4.2% for the $500K-$1M bracket
- NSW has the most drops overall (980) but a lower ratio of drops to rises (4.6:1 vs VIC's 2.7:1)
- QLD is still early days but the drop-to-rise ratio is already 10:1
- Apartments are dropping too, not just houses - Southbank VIC has 21 drops, Rockdale NSW saw a 2-bed cut $195K