Real Estate News: Housing Areas Listed As Worst In Australia

The Australian recently reported on the worst places to buy a home in Australia. Here is the list of the top thirteen areas that made the list of undesirable places to live or buy a home in Australia. These are also areas that the Australian advised property investors against looking into.

1. Bankstown, Western Sydney, NSW
2. Blacktown, Western Sydney, NSW
3. Darwin, Northern Suburbs, NT
4. Dinmore, Brisbane, Queensland
5. Esperance, Southeast, WA
6. Giru, North Queensland
7. Kalgoorlie, Outback, WA
8. Katherine, Outback, NT
9. Lyndhurst, Melbourne, Vic
10. Mount Isa, Western Queensland
11. Parramatta, Western Sydney, NSW
12. Shepparton, Northern Vic
13. Sunshine Coast, Queensland

The list shows that most of Sydney’s western suburbs have been included as areas that should not be invested in. Parramatta, Bankstown and Blacktown have become areas with high levels of home repossessions. When an area has a high level of house repossession it tends to drive the prices in that area down due to the diminishing appearance of the houses that have been vacated. Bankstown and Blacktown have also been an area where ethnic tensions and high crime rate have dominated the scene making it a less desirable place to live. Many people also were turned off by the noise from overhead aircrafts that dominates that area.

Melbourne’s Lyndhurst and Brisbane’s Dinmore made their appearance on the list due to observations made on the property market over the last 25 years that garnered concerns about the value of property in that area dropping dramatically. If you are looking to invest in a home it is best to avoid areas where the value of the property will continue to drop.

Giru made the list due to problems with flooding and Shepparton tops the list for high levels of crime. Esperance and Kalgoorlie are considered to be over priced and polluted, which makes for a bad combination.

Sean Rasmussen
Property Options Australia
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