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Sale losses surge in the ACT

16 January 2015 Staff Reporter

Approximately 12 per cent of homes in one region sold for a loss during the 2014 September quarter, a new report shows.

The CoreLogic RP Data Pain and Gain report indicates Canberra had the second-highest proportion of loss-making sales of all capital cities.

The highest proportion of loss-making sales was Hobart, which recorded 15.8 per cent.

Only 2.6 per cent of homes in Sydney were sold for a loss during the quarter.

CoreLogic RP Data senior research analyst Cameron Kusher said the proportion of loss-making sales was increasing in the ACT whereas it was falling in most other capital cities.

The report showed about 8.4 per cent of homes sold for a loss a year ago compared to 12 per cent during the September quarter.

"I guess that's just a broader reflection of what we're seeing across the Canberra housing market at the moment," Mr Kusher said.

"Overall there's been quite a bit of weakness in the Canberra housing market in 2014."

CoreLogic RP Data recorded a fall in ACT dwelling values of 3.4 per cent during the December quarter and 0.6 per cent for 2014 – Canberra was the only capital city not to record an increase for the year.

Sale losses surge in the ACT
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