New Gladstone houses and Gold Coast units ‘almost always’ purchased for more than potential re-sale

New Gladstone houses and Gold Coast units ‘almost always’ purchased for more than potential re-sale
Jennifer DukeDecember 7, 2020

In six capital cities across Australia, Herron Todd White has noted that new houses are being sold ‘occasionally’ at higher prices than their potential re-sale value.

Digging deeper, however, are some important results for new property buyers across other markets.

Houses in Queensland’s Gladstone, Mackay and the Gold Coast were given a ‘very frequently’ indicator, while in Gladstone it was noted as being the case ‘almost always’.

Ipswich and Toowoomba were also given a ‘frequently’ rating for both units and houses.

Units in the Gold Coast were given an ‘almost always’ rating, while Mackay was recorded as ‘very frequently’ having the potential to sell for less than they were bought for.

The Month in Review report for December 2014 noted that just two states escaped this factor, with Perth and Canberra given an ‘almost never’ rating.

While none of these have changed from the previous month in October 2014, Perth was given a ‘very frequently’ label for this factor, while for Sydney it was noted that this happened ‘frequently’. All other capitals remained the same.

For units, however, Sydney scored a ‘frequently’ rating, while the other capitals saw no differentiation between houses and units in the overall results.

It was also labelled as frequently in Wollongong and ‘very frequently’ in Newcastle.

Across both Victoria and Tasmania, only Horsham saw a ‘frequently’ mention – this was for both houses and units. Most other areas for units and houses were said to be ‘occcasionally’ seeing this happen.

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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