The Sydney and Melbourne suburbs where no one wants to buy a unit
New data from CoreLogic has revealed dozens of suburbs in Sydney and Melbourne where buyers aren't biting, even though apartments are far below their record peaks.
While most other unit markets in the country have made a recovery from the supply glut in apartments through the 2010s, many Sydney and Melbourne suburbs are still underperforming.
These are the suburbs with the biggest difference in their current value and their peak.
15. Parramatta, NSW
Paramatta's current median unit value sits at $611,537. That's down a massive 10.2 per cent from its peak.
14. Harris Park, NSW
Harris Park's median unit prices are sitting at 10.7 per cent lower than their peak - at $478,481.
13. Cairnlea, Victoria
Cairnlea unit values have dipped 10.8 per cent since their peak. The median unit sits at $444,903.
12. South Melbourne, Victoria
The median value of apartments in South Melbourne has fallen nearly six per cent in the last 12 months. They are also down 11.9 per cent from their highest peak.
11. Merrylands, NSW
Merrylands unit prices sit at $513,593, down 12.2 per cent from their peak.
10. Armadale, Victoria
Armadale, has current median apartment prices of $658,967, down 12.4 per cent from its peak in 2018.
9. Middle Park, Victoria
Middle Park apartments have fallen by 1.4 per cent this year to $807,790 - a 12.5 per cent drop since 2015.
8. Granville, NSW
Sydney's Granville made the list too, with apartment prices down 12.8 per cent since their peak in 2015.
7. Kensington, Victoria
Since 2017, apartment values are down in Kensington. They remain 13.5 per cent down on their peak at $548,655.
Share a tip-off, video or photo with us
