Canberra resales at a loss on the rise: CoreLogic Pain & Gain Report
Staff reporterDecember 7, 2020
Over the June 2019 quarter, resales of Darwin properties generated $25.7 million in profits and $15.6 million in losses, according to the latest findings from CoreLogic's Pain & Gain report.
The market also recorded $269.5 million in realised profits which accounted for 1.6% of profits nationally.
Over the quarter, the share of houses resold at a loss increased while the share of unit resales at a loss rose.
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The Pain & Gain report also examined other Australian capital cities like Perth and Hobart, as well as trends such as investors being more likely to resell property at a loss than owner occupiers.