Queensland suburbs facing sharpest property falls in four decades
Queensland's biggest property downturn in four decades is hitting some suburbs hard, with Mansfield down 11.3 per cent.
Queensland's property market is heading for its biggest downturn in four decades, with some suburbs weathering the drop far worse than others. In just three months to October, Mansfield recorded the steepest fall with median values plunging 11.3 per cent to about $1.2 million.
Wishart dropped 10.4 per cent to $1.3 million, while Stretton fell 10.1 per cent to $1.5 million. Even popular suburbs are struggling, with sellers unable to find buyers and deals collapsing as higher interest rates and reduced borrowing power squeeze the market.
Robertson, just 10 kilometres from Brisbane's CBD, has fallen 9.6 per cent. Less central suburbs like Walloon in Ipswich have declined only 1.2 per cent.
Sellers are struggling to find buyers while deals fall through.
- Mansfield, 11.3 per cent
- Biggest fall
- Three months to October
- Time period
- Four decades
- Largest downturn in
- Five months on market
- Robertson seller wait
Why it mattersProperty owners across Queensland are watching their home values shrink while buyers find it harder to borrow enough to purchase.
AustraliaQueensland homeowners are directly affected by falling prices that make selling slower and less profitable, while buyers struggle to secure loans.
✓ Claims checked against the source and corrected before publish. checked 49 min ago
