Prices have pulled back in a handful of suburbs that have been tipped for strong price growth, so could ‘buying the dip’ pay off?
There are 27 suburbs that featured in the latest realestate.com.au Hot 100 where home prices are lower than a year ago.
The list of 100 suburbs was nominated by property industry experts for strong growth prospects in 2026, selected based on growth drivers such as affordability, demographic change, infrastructure and location.
Given the potential for strong future price growth, a lull in the market in these suburbs could mark an opportune time for buyers to make their move, getting in ahead of what is tipped to be above-average growth.
How far have prices fallen?
The full list of 100 suburbs was filtered to only include suburbs where median prices were lower than a year ago, however there was considerable variance in how far prices had pulled back in individual suburbs.
For houses, this ranged from 20% in Carisbrook, a town in regional Victoria, to just 0.2% in Leppington in Sydney’s west.
Suburbs from the Hot 100 where house prices have declined
| Suburb | State | Median house price | 12-month change | Demand | Supply |
| Carisbrook | VIC | $495,000 | -19.5% | -10% | -19% |
| Zetland | NSW | $1,990,000 | -8.0% | -23% | -33% |
| Denman Prospect | ACT | $1,289,000 | -7.4% | 14% | 40% |
| Footscray | VIC | $916,000 | -7.2% | 46% | 5% |
| Parap | NT | $880,000 | -6.9% | 40% | -21% |
| Legana | TAS | $698,000 | -5.7% | 47% | 5% |
| Earlwood | NSW | $2,050,000 | -5.5% | 3% | -4% |
| Rapid Creek | NT | $763,000 | -5.3% | 20% | -26% |
| Giralang | ACT | $885,000 | -2.9% | -19% | 9% |
| Bonython | ACT | $880,000 | -1.9% | 57% | -20% |
| Broadmeadow | NSW | $983,000 | -0.8% | 31% | 8% |
| Kingston | TAS | $739,000 | -0.5% | 48% | -19% |
| Williamstown | VIC | $1,566,000 | -0.4% | 60% | -2% |
| Leppington | NSW | $1,083,000 | -0.2% | 31% | -2% |
In the unit market, it included Little Bay, a beachside suburb in Sydney’s east, where unit prices have retreated by almost 18% after a big rise over 2024, as well as Denman Prospect in Canberra, where unit prices were essentially flat, having declined just 0.1%.
Unit prices in Little Bay have come off the boil after a rapid increase in the past few years. Picture: realestate.com.au/sold
In dollar terms, these figures varied widely too. For example, the median house price in Zetland in inner Sydney was 8% lower than a year ago, which based on its $1.99 million median, equates to about $173,000 – a significant reduction relative to typical prices from a year ago.
On the other hand, typical unit prices in nearby Rosebery were 1.6% lower, equating to a $14,900 difference.
Suburbs from the Hot 100 where unit prices have declined
| Suburb | State | Median unit price | 12-month change | Demand | Supply |
| Little Bay | NSW | $1,113,000 | -17.7% | -24% | -20% |
| Footscray | VIC | $447,000 | -14.8% | 27% | -4% |
| Ararat | VIC | $270,000 | -11.5% | 45% | 41% |
| Zuccoli | NT | $453,000 | -9.0% | NA | NA |
| Zetland | NSW | $962,000 | -7.9% | -2% | -4% |
| Earlwood | NSW | $835,000 | -7.5% | 3% | -3% |
| East Tamworth | NSW | $339,000 | -7.1% | NA | NA |
| Tarneit | VIC | $440,000 | -6.4% | 36% | -26% |
| Battery Point | TAS | $750,000 | -6.3% | 19% | 14% |
| Bathurst | NSW | $458,000 | -4.5% | 108% | 6% |
| Parap | NT | $404,000 | -3.9% | 61% | 5% |
| Herne Hill | VIC | $340,000 | -2.9% | 39% | -10% |
| Port Melbourne | VIC | $700,000 | -2.8% | 14% | 6% |
| Bonython | ACT | $708,000 | -1.7% | -13% | 23% |
| Rosebery | NSW | $915,000 | -1.6% | 15% | -4% |
| Dubbo | NSW | $351,000 | -1.5% | 48% | -26% |
| Ringwood East | VIC | $725,000 | -0.7% | 35% | 11% |
| Mount Waverley | VIC | $1,100,000 | -0.7% | 18% | 9% |
| Denman Prospect | ACT | $585,000 | -0.1% | 43% | 38% |
The data tracks price growth in the 12 months to November 2025. Over this same period, Australia’s median home value climbed 8.7%, or about $78,000, with slightly stronger growth in regional areas (9.3%) than the capitals (8.5%).
While property prices at the suburb level can fluctuate, many of the Hot 100 suburbs where prices declined were mostly found in states where price growth has been slower recently, including Victoria, Tasmania and the ACT.
But with signs that prices in these regions are on the way up in some areas such as regional Victoria and Tasmania, price declines in these suburbs could represent pockets of relative affordability in a rising market.
Buyers seeking relative value
Suburbs offering buyers more bang for buck could be poised for further growth, even in areas where prices can't exactly be described as affordable.
In Earlwood in Sydney, where the median house price declined about 5.5% last year to $2.05 million, buyers moving from even pricier suburbs still considered the area good value despite it's multimillion-dollar median.
Earlwood has attracted buyers from pricier inner suburbs who are looking for larger homes. Picture: realestate.com.au/sold
Real estate agent Alexandra Stamatiou-Buda of McGrath Leichhardt said Earlwood had gentrified in the past decade as buyers gravitated there from other inner suburbs.
“It does have that flowover effect from Marrickville and Dulwich Hill, but it’s less than 10km from the city, and a lot of the suburb is within walking distance of the new metro stations at Dulwich Hill and Canterbury.”
Real estate agent Joseph Karam of CobdenHayson Earlwood said the area offered more value for money compared to suburbs closer to the city.
“There’s quite a large number of buyers coming from the inner west,” he said. “Instead of paying $2 million for a semi, they could buy a three-bedroom freestanding home on 400sqm.”
Rising demand supports price growth
PropTrack data shows that demand, measured by the number of enquiries per listing, has climbed higher in a number of suburbs where prices have declined.
Suburbs with big jumps in demand for houses include Williamstown and Footscray in Melbourne’s west, Bonython in Canberra’s south, Kingston in Hobart’s south and Legana on the outskirts of Launceston.
Footscray is one of the most affordable inner Melbourne suburbs, making it appealing to first-home buyers. Picture: realestate.com.au/sold
Real estate agent Tate Moore of Jas Stephens Real Estate said the dip in prices in Footscray came about due to increased levels of investment properties being listed for sale, but a new wave of buyers was coming in.
“Many landlords are selling their investment properties, which are typically at the cheaper end of the market,” he said.
“The majority were bought by first-home buyers. The demographic for Footscray is relatively young so the buyer pool is typically 25 to 35 year olds who still want to be close to the city.”
He said Footscray’s relative affordability was a major drawcard for many buyers looking to enter the market.
“If you draw a 6km radius around Melbourne CBD, it would have to be the cheapest pocket in that radius," he said. "Naturally there’s going to be growth there.”
Demand for affordable units in Bathurst has surged, PropTrack data shows. Picture: realestate.com.au/sold
Bathurst, a regional city about 200km west of Sydney, was the standout for the unit market, with enquiries more than doubling in the past year.
Enquiries were also significantly higher in Parap in Darwin – a city where investors have been increasingly active, seeking out properties with high rental yields and strong growth potential.
Get your realEstimate™
Track your property's value and unlock insights and data tailored for property owners.
Although it’s not guaranteed, growth in enquiries can be a leading indicator for price growth, as it suggests more buyers are interested in purchasing in the area.
This added demand can influence price growth, especially if the number of homes coming to the market remains stable or declines.
Help us improve your reading experience
Got a minute? Your feedback will help us build a better experience for you.
Help us improve this page
English (US) · 