Canberra house resale profits ticks up: CoreLogic

Canberra house resale profits ticks up: CoreLogic
Canberra house resale profits ticks up: CoreLogic

Over the second quarter of 2018, there were $4.5 million worth of resales at a loss for Canberra.

That accounted for 1% of the total value of losses nationally, according to the latest CoreLogic Pain and Gain report.

The market also recorded $248.3 million in realised profits which accounted for 1.6% of profits nationally.

Most of the losses were apartments.

Canberra house resale profits ticks up: CoreLogic

An example of some apartments which weren't quite loss makers, but barely budged were 37/3-5 Burbury Close Barton, ACT which gained $5,000 rising from $605,000 in 2010 to $610,000 during the June quarter.

At 61/30-32 Blackall Street Barton, ACT, the one bedroom, one bathroom apartment made just $100, a leap from $420,900 to $421,000 over the past five years.

Canberra house resale profits ticks up: CoreLogic

an apartment in the ACT that did make a outright loss is 512/240 Bunda Street City, ACT (pictured above).

The apartment sold for $445,000 in April this year making a loss of $17,900 on its last sale price of $462,900 in 2011.

It is the largest one bedroom apartment in the Manhattan on the Park development.

Over the quarter, the share of houses resold at a loss fell slightly while the share of unit resales at a loss rose, CoreLogic noted.

Canberra house resale profits ticks up: CoreLogic

Tags: 
Canberra Corelogic Pain & Gain

Comments

Be the first one to comment on this article
What would you like to say about this project?