The vast majority of property owners resell at a profit, although this has edged lower as the property market weakens.
In the Ryde local government area, 21.2 per cent of properties sold in the June quarter traded at a loss, the CoreLogic Pain and Gain report shows, followed by the LGAs of Strathfield and Parramatta . He tells buyers to negotiate on price as the market falls. Separate figures from CoreLogic on Monday show overall Sydney home values are down 9 per cent since peaking, while Melbourne has fallen 5.6 per cent, Brisbane is down 4.3 per cent and Perth has fallen 0.6 per cent.
Melbourne’s CBD has recorded loss-making resales for years after a wave of new investor-grade supply was completed and sold to international investors, but the picture can be different for older-style blocks. He looks for capital growth drivers: a strong underlying land component, scarcity value, and demand from a range of potential future buyers.
Source: Real Estate Daily Report (realestatedailyreport.net)
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