Around 25% of Darwin property sellers losing money: CoreLogic
Staff reporterDecember 7, 2020
Across Darwin over the three months to June 2016, 23.5% of houses and 25.9% of units resold at a loss, according to the latest CoreLogic Pain and Gain report.
The report compares the most recent sale price to the previous sale price in order to determine whether the property sold at a gross profit or gross loss.
It found that over the three months to June, gross losses for resales of houses were, while for gross losses for units fell.
In total, 17.1% of homes resold at a loss.
Palmerston recorded the highest proportion of loss-making resales over the quarter (25.5%) followed by Darwin (24.1%) and Litchfield (21.7%).
Get the full report here.