Coast town that suffered biggest house price drop
THE Fraser Coast suburb that recorded the biggest house price drop has been on a downward trend for at least three years.
Poona topped the list of the most dramatic price drops over the past 12 months.
The fishing village experienced a 12.4 per cent decrease in its median house price, new realestate.com.au data reveals.
Houses sold for a media price of $282,500 in the past 12 months - down from $322,500 in the past year.
Poona also recorded a drop of 11.7 per cent over the past three years.
The next biggest drop in median house prices was recorded in Nikenbah, with prices falling by 8.1 per cent.
Burrum Heads came next with a 6.1 per cent drop, followed by Glenwood, down by 4.9 per cent.
At the other end of the scale, Maryborough West was the "most improved" suburb for house prices, recording a rise of 17.7 per cent.
FULL LIST OF SUBURBS WHERE HOUSE PRICES DROPPED
- Poona: -12.4 per cent, from $322,500 to $282,500
- Nikenbah: -8.1 per cent, from $387,500 to $356,000
- Burrum Heads: -6.1 per cent, from $390,000 to $366,250
- Glenwood: -4.9 per cent, from $266,000 to $253,000
- Kawungan: -3.4 per cent, from $365,000 to $352,500
- Urraween: -3.2 per cent, from $385,000 to $372,500
- Torquay: -2.7 per cent, from $334,000 to $325,000
- Booral: -1.9 per cent, from $400,000 to $392,500
- Granville: -1.7 per cent, from $217,500 to $213,750
- Dundowran Beach: -1.3 per cent, from $580,000 to $572,500