Ensure you never miss an issue of the
real estate business bulletin
Sale losses surge in the ACT

Sale losses surge in the ACT

by Staff Reporter 0 comments

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
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?