Profit-reaping houses owned for a decade: CoreLogic RP Data
Houses that sold for a loss nationwide during the second quarter of 2015 had typically been owned for 5.7 years and units for 6.3 years, according to CoreLogic RP Data's Pain & Gain report for the June quarter.
According to the report, houses that sold at a profit had been owned for 10.3 years and units 9 years.
The report noted capital city houses which resold at a loss had an average hold period of 5.2 years compared to 5.4 years for units.
"Of those capital city homes which sold at a profit, the average hold periods were 10.3 years for a house and 8.9 years for a unit. The average hold periods for homes selling at a profit tended to be longer in Melbourne and shorter in Darwin," the report said.
"Looking at regional areas, the typical hold period for loss-making resales was 6.0 years for houses and 7.2 years for units and for profit-making resales it was 9.6 years for houses and 10.4 years for units.
"It is a little surprising to note that profit-making resale houses in regional areas of the country actually had a shorter average hold period (9.6 years) than those within the capital cities (10.3 years)."
