House prices have fallen, but these suburbs are resisting the trend

While Australian homeowners may be a little nervous after hearing real estate prices for the first time in 20 months, buyers will sit back and take notes.

According to two leading monthly indices – CoreLogic and REA’s PropTrack – the nationwide monthly decline is approximately 0.1 percent.

Sydney, Melbourne and Canberra lead falls while Adelaide, Brisbane and some regional areas continue to show sharp price increases.

The coin always has two sides

Just as homeowners may perceive the latest news about home prices as negative, buyers may feel some long-forgotten optimism about returning to the market.

Likewise, middle prices do not tell the whole story. Median values ​​do not necessarily mean that all houses in a particularly favorable growth area will rise in price.

These statistics provide an overview of properties that have been sold in a given time period.

Ultimately, the value of your house will be determined by how much the buyer would pay for it.

Ready to buy? Here are the areas where prices are rising in your capital

According to CoreLogic, the three main suburbs in each capital city are mostly concentrated in the same areas.

V Greater Melbourne, Mornington Peninsula is by far the best area for rising prices.

The Logan-Beaudesert The Greater Brisbane region has also taken up a national trend, while prices in Perth is northwest continue to climb.

For potential homeowners and investors, let’s look at the top three suburbs of your capital.

Greater Sydney

Outskirts

Mean value

Annual change

Maria

$ 1,605,065

30.4 percent

Box Hill

$ 1,398,477

29 percent

Mount Victoria

$ 801,587

28.4 percent

Box Hill is known for its green streets and low-rise landscape.(ABC News: Sam Yang)

Although the country’s most populous city is leading the trend of falling real estate prices, there are still areas where growth is taking place.

The Baulkham Hills and Hawkesbury The region is home to the two best suburbs in terms of growth.

About 43 kilometers northwest of Sydney Central Business District, Maria and Box Hill they are practically neighboring neighbors and share similar statistics and demographic data.

Maraylya had the best performance with a medium value house $ 1,605,065which is an annual change 30.4 percent.

The median weekly household income according to the 2016 census was $ 2,133 per week.

The rent was 15.2 percent of occupied private apartments.

Mount Victoria rounds the first three.

It is located in the Blue Mountains in the outer west and you can drive to the CBD about 120 kilometers by road.

The median weekly income was $ 1,065 in 2016, and 22.7 percent of suburban residents rented.

Greater Melbourne

Outskirts

Mean value

Annual change

Tootgarook

$ 1,148,420

22 percent

St. Andrew’s beach

$ 1,509,360

21.6 percent

Sorrento

$ 2,304,891

20.8 percent

The historic mansion and four acres in Sorrento are offered for sale.
Sorrento, home of the millionaire’s headquarters, grew by 20.8 percent.(Supplied with: CBRE)

The Mornington Peninsula boasts the top 10 suburbs for rising prices in the wider Melbourne.

The mean values ​​of a house vary greatly in the first 3, but they all have one thing in common – the values ​​hold on to strength and grow.

Tootgarook was the best performance.

Located 80 miles from the Melbourne CBD, Tootgarook has an average weekly household income of $ 1,023 and rentals account for 27 percent of the market.

Next is the road Sorrentohome of settlements on a millionaire walk.

The median value of homes here is significantly higher, but interestingly, the median household income is not much higher, at $ 1,136.

A huge 64.5 percent of inhabited private homes are owned directly (without a mortgage), while 13.6 percent are rentals.

On the opposite side of the peninsula is a coastal village St. Andrew’s beachwhere the median weekly household income is $ 1,652, while the median weekly rent is lower than the national ($ 335) at $ 294.

Great Brisbane

Outskirts

Mean value

Annual change

Cedar grove

$ 801,831

45 percent

Logan Central

$ 473,578

42.1 percent

Cedar Vale

$ 841,756

41.6 percent

Logan City Council signage in the main office building with a garden overlooking Wembley Road in Logan City.
House prices in the Logan-Beaudesert region of Greater Brisbane are strong.(ABC News: Alex Papps)

If you own a house in the Logan-Beaudesert region, the numbers look impressive. Classified as a mixed use site in Logan, Cedar grove is about 25 miles from Brisbane’s CBD.

According to the 2016 census, the median weekly household income was $ 1,793 and 61.6 percent of people in Cedar Grove have a mortgage.

Logan Centralas the name suggests, is the CBD and the administrative center of Logan.

The median weekly household income in 2016 was $ 856, and 57 percent of private homes accounted for rent.

Rural locality Cedar Vale reported a median household income of $ 1,863 with only 8.2 percent of rentals.

Greater Adelaide

Outskirts

Mean value

Annual change

Beaumont

$ 1,783,745

43.8 percent

O’Sullivan Beach

$ 534,156

38.7 percent

Modbury North

$ 596,655

38.7 percent

A view of Adelaide's CBD from the northeast suburbs.
A view of the CBD in Adelaide from the northeast suburbs, where price growth has been positive.(ABC News: Tony Hill)

The three best artists in Greater Adelaide are spread over a greater distance.

Beaumont The Adelaide-Central Hills region is just 8 miles from the CBD.

With a relatively high median weekly household income of $ 2,265, the share that pays rent is greater than or equal to 30 percent of that income (according to the 2016 census) is only 3 percent.

Seaside suburbs O’Sullivan Beach The South has much lower home prices, but also lower weekly incomes – the median sat at $ 891 in 2016.

There is a fairly even distribution to those who own their homes directly, to those who have a mortgage and to those who rent.

in Modbury Northwhich lies 14 miles from the CBD, the median weekly household income is around $ 1,400 and nearly 45 percent have a mortgage.

Greater Hobart

Outskirts

Mean value

Annual change

Primrose Sands

$ 579,571

28.1 percent

Tranmere

$ 1,119,609

26.4 percent

Acton Park

$ 1,316,007

25.7 percent

Unfinished house on the waterfront.
Primrose Sands in Hobart is a suburb to watch.(ABC News: Luke Bowden)

In 2016, the median weekly household income was for a mixed urban and rural locality Primrose Sands was $ 744.

Rents were 23.6 percent of occupied private homes, with a median weekly rent of $ 200.

IN Tranmere, home prices will double and the median weekly household income will increase accordingly to $ 1,966.

Almost 39 percent of homes are directly owned.

Across the inside Acton ParkThe median household income is $ 2,195, with only 3.4 percent of occupied private homes listed as rent.

Greater Perth

Outskirts

Mean value

Annual change

Watermans Bay

$ 1,276,719

14.9 percent

Ocean reef

$ 990,680

14.5 percent

Carine

$ 1,107,087

14.5 percent

The most powerful suburb of Greater Perth has seen modest growth.

Northwest Perth fared best Watermans Bay recorded growth of 14.9 percent.

The northern coastal suburbs have a median household income of $ 1,927 and tenants make up 28.6 percent of occupied private homes.

Further along the coast to Ocean reefthe median house values ​​are lower, but the weekly household income is more generous at $ 2,245.

Close Carine45 percent own their homes directly and the average weekly household income is $ 2,242.

Greater Darwin

Outskirts

Mean value

Annual change

Nakara

$ 637,057

16.2 percent

Wagaman

$ 513,276

26.4 percent

Wulagi

$ 579,251

15 percent

Inscription for sale outside apartments in Darwin.
Darwin’s housing market is still growing.(ABC news)

In the Top End, the most powerful suburbs are right next to each other, about 13 kilometers from the CBD.

These three suburbs have similar statistics and demographics.

Nakara It boasts the highest median value and a median weekly household income of $ 2,261, while rents account for 32.4 percent of occupied private homes.

Canberra

Outskirts

Mean value

Annual change

Denman Prospect

$ 1,221,771

32.9 percent

Waramanga

$ 971,167

30.7 percent

Coombs

$ 760,037

29.8 percent

A typical former government house of Canberry.
A house on the outskirts of Canberra in the city of Waramanga, where house prices have risen despite the national median decline.(ABC News: Jesse Dorsett)

The country’s capital has a number of suburbs that need to be monitored in terms of rising real estate prices. Denman Prospect is a suburb currently under construction and as such has no census data in 2016.

Waramangaon the other hand, it was founded in the late 60’s and has a 30.1% share of directly owned homes.

The median weekly household income is $ 1,875.

in Coombs74 percent of private dwellings are mortgaged and the average weekly household income is $ 2,315.

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