Almost a third of suburbs see property prices fall
Property prices are in decline in almost 30 per cent of Australian suburbs, a fact that a surprisingly high proportion of Australians regard with a sense of relief.
Victoria's Mornington Peninsula is among the hardest hit regions when it comes to property price declines. (Image source: Shutterstock.com)
The past three months have seen some heady capital growth in a few cities but a surprisingly high proportion of 3,655 suburbs analysed across Australia are actually in decline.
Weighted down by Melbourne, regional Victoria and the smaller capital city markets, almost 30 per cent of suburbs had their property prices slip backwards since the midway point of the year.
Melbourne (79.1 per cent) and regional Victorian suburbs (73.8 per cent) made up…
