Expert insightsFewer loss-making resales in Sydney during Dec 2015 quarter: CoreLogic RP Data Pain & Gain
Fewer loss-making resales in Sydney during Dec 2015 quarter: CoreLogic RP Data Pain & Gain
Property ObserverApril 28, 2016
The vast majority of property owners who sold their home in the December 2015 quarter sold at in excess of their previous purchase price, according the latest CoreLogic RP Data quarterly Pain and Gain Report.
The Pain & Gain Report found that 91.6 percent of properties resold for profit over the quarter with 31.2 percent of homes selling for more than double their purchase price. The total value of all profit was $17.1 billion with the average gross ‘gain’ $270,842 per sale.
CoreLogic RP Data senior research analyst Mr Kusher said Sydney house values have seen significant increases in values over recent years and therefore, fewer loss-making resales occurred compared with other capital cities.
