AUSTRALIA: The areas around Australia where house prices have dipped most

PHOTO: Albert Park prices have dropped but local agents say the market is starting to pick up. Photo: iStock

House prices have dropped most in a string of affluent east coast electorates that are largely Liberal-held, new figures show.

Seats held by Labor were not immune, as the housing market weakens across the nation’s two largest cities.

Housing policy has been a hot topic in the campaign, with Labor proposing to curb negative gearing tax breaks in a policy that the Coalition warns would force prices down further, and the Coalition unveiling its own policy to help first-home buyers get into the market with a low deposit.

STATE	ELECTORATE	HELD BY	MEDIAN HOUSE PRICE	YOY CHANGE
Vic	Macnamara	Labor	$1,200,000	-29.4%
Vic	Chisholm	Liberal	$1,045,000	-19.6%
Vic	Kooyong	Liberal	$1,700,000	-19.0%
Vic	Higgins	Liberal	$1,478,000	-19.0%
NSW	Bennelong	Liberal	$1,330,500	-18.5%
NSW	Cook	Liberal	$1,227,500	-18.2%
Vic	Melbourne	Greens	$1,067,500	-17.9%
Vic	Hotham	Labor	$900,000	-16.3%
NSW	Watson	Labor	$925,000	-15.9%
Vic	Menzies	Liberal	$1,060,000	-15.9%
NSW	Barton	Labor	$1,100,000	-15.4%
Vic	Goldstein	Liberal	$1,465,500	-14.8%
NSW	Banks	Liberal	$950,500	-14.4%
NSW	Reid	Liberal	$1,650,000	-14.3%
NSW	Hughes	Liberal	$920,000	-14.0%
NSW	Grayndler	Labor	$1,380,000	-12.4%
NSW	North Sydney	Liberal	$2,160,000	-11.8%
Vic	Deakin	Liberal	$785,000	-11.8%
NSW	Mitchell	Liberal	$1,068,000	-11.7%
NSW	McMahon	Labor	$720,000	-11.7%