The rush to regional property is over as prices fall sharply
Regional property values have undertaken a large correction, falling sharply since the meteoric rise to record price levels during the pandemic but there are still areas achieving capital growth.
With major property price cuts prevalent in regional Australia, those who bought at the peak of the market may need a stiff drink. (Image source: Shutterstock.com)
Australia’s COVID-induced whirlwind love affair with the country’s hottest regional cities has run its course, with values declining sharply as vendor discounts climb and days on market blow out.
CoreLogic’s Regional Market Update, which examines Australia’s 25 largest non-capital city regions, shows 13 areas recorded an increase in house values over the year to January 2023, down from 21 over the year to October 2022.
The South East region in …
