property by suburb crash in regional areas ?

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    Hey all , Been flicking through the valuer general report again and although I note there are a few inner Melb suburbs down year on year and prev quarter to the last quarter The biggest concern seems to be regional areas of Victoria .

    Here are some examples , Beechworth , Benalla , bonbeach, Maffra ,lakes entrance ,eurora ,launching place,glen rowan, creswick,Mount dandenong [could be an exception as prices vary widely ]

    The xl spread sheet is found at the bottom of this page ;
    http://www.dtpli.vic.gov.au/property-and-land-titles/property-information/property-prices

    Houses by suburb xl .

    Does anyone understand why many regional vic towns are being hit ? is it folks selling holiday houses ? oldies moving back to town ? regional areas running out of work ?
    some form of cyclical move ?

    I would appreciate folks thoughts on this as heard from a mate who lives in the wheat belt ,this week ,that the work situation in the last few months has been a disaster . Is it like that everywhere in regional areas or just vic specific .

    thanks in advance

    cheers g
 
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