$35 million lost by Queensand Gold Coast sellers: CoreLogic RP Data Pain & Gain

$35 million lost by Queensand Gold Coast sellers: CoreLogic RP Data Pain & Gain
$35 million lost by Queensand Gold Coast sellers: CoreLogic RP Data Pain & Gain

Gold Coast sellers in the 2015 June quarter lost $35 million when properties were resold at losses, according to the latest CoreLogic RP Data pain & gain report. Around 19% of sellers on the Gold Coast went backwards with their investment.

Across Brisbane, the proportion of loss-making resales has trended lower over the past few years and was recorded at 9.8% over the June 2015 quarter, up from 9.3% the previous quarter but lower than the 10.9% a year earlier.

Across South-East Queensland, the Toowoomba (3.0%), Brisbane (6.3%) and Redland (6.8%) council area have significantly lower proportions of loss-making sales compared to all other regions where the proportion of loss-making resales was in double digits.

The council areas with the highest proportion of loss-making resales were Somerset (26.1%), Gold Coast (19.9%) Scenic Rim and Lockyer Valley (both 19.4%).

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 million lost by Queensand Gold Coast sellers: CoreLogic RP Data Pain & Gain

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Residential Market Property Resales

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