This report looks at residential property resales over the September 2016 quarter by comparing the most recent sale price to its previous sale price and calculating if the vendor made a profit or a loss.
While the winners were big grinners, the losers felt an average loss of $71,529 over the September 2016 quarter.
The results varied considerably across capital cities, but if you’ve been following the market you’ll see few surprises here. Take a look at the winners and losers across Australia:
- Brisbane saw the number of loss-making unit resales reach more than double that of houses
- Sydney recorded the highest value of profit-making resales of all regions in Australia over the quarter, earning an overall profit of $6.22 billion
- Perth and Darwin saw the instances of loss making resales almost double
- Melbourne has the lowest proportion of dwellings sold at a loss
- Hobart and Adelaide saw a reduction in the proportion of loss-making properties
Would you rather be a property winner? Contact us for a chat about your property goals.