Brisbane sees highest volume of loss-making unit sales: CoreLogic Pain & Gain report

The Brisbane council region had the highest volume of loss-making unit sales in the country, according to the recent CoreLogic pain and gain report.

Brisbane also had the highest loss-making sales rate for houses and units of the east-coast capital cities, with loss-making sales increasing to 14.3 per cent.

Similar to Adelaide, there was a divergence between the loss-making sales between houses and units.

During the June quarter, 43 per cent of units saw a loss at resale, whilst houses were at 6.4 per cent.

According to the report, Brisbane will likely see a boost in housing demand once interstate border closures ease due to Queensland’s significant interstate migration.

“The normalisation of remote work through COVID-19 may only boost that demand further”, the report read.

The average median loss for gross loss-making sales in Brisbane was $37,500.