PHOTO: The Sydney suburb of Illawarra from above on a summer day. (Source: Getty)
The property market registered an uptick in the second half of the year, but that doesn’t mean all of Australia enjoyed the good news.
According to the experts, there are some hotspots (and some in regional areas) that buyers should be keeping an eye on in 2020 – but also some that Australians should black-list.
“In terms of sales volumes, most regions of Australia have generally seen a much lower number of transactional activity this year relative to last with confidence clearly weighing down on market participation, even the regions with the highest change in sales activity recorded less than a 1 per cent change annually,” stated CoreLogic’s Regional Market Update October 2019 report.
If you’re house-hunting, data from CoreLogic has revealed there are nine suburbs that you should avoid, with these areas registering the greatest falls in property values in 2019.
House price growth in NSW’s Illawarra region dropped by 5.9 per cent this year, closely followed by Southern Highlands and Shoalhaven at 5.6 per cent.
“Houses are sitting on the market for over 100 days across the Southern Highlands & Shoalhaven region of NSW,” the report said.
Worst-performing regional areas in 2019: Houses
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