Quarter of Australia's loss-making property resales occurred in Perth: CoreLogic Pain & Gain Report

Quarter of Australia's loss-making property resales occurred in Perth: CoreLogic Pain & Gain Report
Quarter of Australia's loss-making property resales occurred in Perth: CoreLogic Pain & Gain Report

Over the June 2019 quarter, resales of residential properties in Perth created $834.9 million worth of resale profits which accounted for 5.1% of resale profits nationally, according to the latest data from CoreLogic's Pain & Gain Report.

Their findings showed, Perth also created $166.5 million in loss-making resales accounting for 23.0% of all losses nationally.

Quarter of Australia's loss-making property resales occurred in Perth: CoreLogic Pain & Gain Report

Peppermint Grove had no resales at a loss over the quarter, while Nedlands was the only other region with less than a quarter of resales at a loss.

The highest share of resale losses were in Perth, Belmont and Bayswater.

Greater Perth has continued to see values fall over the quarter and subsequently resale losses have also risen, a trend likely to continue, CoreLogic said.

Quarter of Australia's loss-making property resales occurred in Perth: CoreLogic Pain & Gain Report

Tags: 
Perth Resales

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