THESE are the 66 most dangerous suburbs in Australia to buy a house.
The property research firm’s latest Price Predictor Index uses sales volumes to predict future price movements — more sales point to price increases, falling sales to price declines.
“Sales volume is a precursor to prices, that’s why it’s quite a valuable indicator,” said Hotspotting managing director Terry Ryder.
“The wind-down in Sydney was obvious well ahead of showing up in prices. Sydney peaked really in terms of sales volumes in 2015 and has been gradually tapering off. It was only last year we started to see it reflected in the price data.”
The report lists a total of 66 “danger” suburbs — 17 in NSW, seven in Victoria, 26 in Queensland, three in Western Australia, three in Tasmania and 10 in Northern Territory. South Australia and the Australian Capital Territory escaped unscathed.
The strongest concentrations of danger suburbs were in the Sydney city and Parramatta areas, the Brisbane and Melbourne inner cities, and in the Queensland regional towns of Mount Isa and Gladstone, which have eight and six danger suburbs respectively.
“The ones to avoid are primarily in the Sydney apartment market and the Brisbane inner-city apartment market,” Mr Ryder said. “Then there’s still some in regional Queensland and those areas impacted by the mining sector, [although] there are fewer than there were. A number of Queensland regional markets are actually showing signs of recovery.”
