35% of all Melbourne property resales were at a loss: CoreLogic
Staff reporterDecember 7, 2020
Over the June 2019 quarter, resales of Melbourne properties generated $4.316 billion worth of profits and $70.7 million in losses, according to the latest data from CoreLogic's Pain & Gain Report.
These figures indicated that Melbourne generated 26.4% of total resale profits nationally over the quarter as well as producing 9.8% of total resales losses.
Over the quarter, there were no resales at a loss in Macedon Ranges and Moorabool.
The council regions with the highest proportion of resales at a loss were Melbourne, Port Phillip and Stonnington.
With dwelling values now starting to rise throughout the city, the share of houses and units resold for a loss may start to fall over the coming quarters.
