Login
ISCOVER
Of all residential property re-sales in the 2013 September quarter, 11.1 per cent recorded a gross loss from the original purchase price, according to RP Data’s most recent Pain and Gain report.
The percentage has fallen from 11.7 per cent at the end of the June 2013 quarter and from 13.1 per cent a year ago.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
RP Data's quarterly report puts the gross value of the losses associated with these loss-making re-sales at $488.1 million.
Conversely, the 88.9 per cent of re-sales that recorded a profit grossed $12.6 billion combined.
Lifestyle markets continue to see the largest proportion of loss-making resales, particularly within the unit market, according to the report.
“Queensland’s Far North has overtaken the Gold Coast to record the largest proportion of loss-making re-sales, with 33.9 per cent of all September quarter re-sales transacting at a price lower than what the home was purchased for,” it said.
In contrast, regional areas often associated with the commodities sector and most capital cities have recorded very low rates of loss-making re-sales, with north west and south west Queensland, Sydney and Perth recording fewer than five per cent of re-sales at a loss.
