Investing in real estate is far from a sure bet, with new figures from researcher CoreLogic showing owners of investment properties are three times more likely to incur a loss from resales than owner-occupiers.
In Sydney, 13.4 per cent of sales by investors were loss-making, compared with 5.9 per cent for owner-occupiers. Investors who sold Melbourne property in the June quarter did worse, with 17.9 per cent of sales by investors realising a loss, compared with 3.1 per cent of owner-occupiers. Bakos steers clear of apartments bought off-the-plan – both as in investment and to live in. The development could take longer to complete than anticipated and there could be variations in the apartment’s design.A purchase premium will usually be paid by buyers of new-build apartments that means the resale price could be lower than you paid for it, if you were to sell within the first couple of years of owning it, she says.
Investors who are intent on buying a unit should seek out smaller “boutique” blocks close to the city in a leafy street where most of those living in the block are owner-occupiers.
Source: Real Estate Daily Report (realestatedailyreport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Puppy Killed in Lalor PropertyAn unknown person gained access to a property in Lalor and allegedly killed a three-month-old staffy puppy named 'Boss'. CCTV cameras were moved in the backyard.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Hundreds of US banks threatened by rising wave of property defaultsAmerica’s office stock has lost 40 per cent to 45 per cent of its pre-COVID value, courtesy of shrinking rents and the most aggressive monetary tightening of modern times.
Source: FinancialReview - 🏆 2. / 90 Read more »
From right to buy to housing crisis: how home ownership killed Britain’s property dreamMargaret Thatcher’s ‘property-owning democracy’ project drove a mass sell-off of social housing. After more than 40 years of soaring prices and growing inequality, is it time to change course?
Source: GuardianAus - 🏆 1. / 98 Read more »
Pilot Program Launched to Assist Domestic Violence Victims in Resolving Property DisputesA pilot program in the Federal Circuit and Family Court aims to help domestic violence victims and other vulnerable individuals resolve property disputes. Chief Justice Will Alstergren hopes that the program, which is being rolled out nationally, will provide assistance to Australian families navigating the court system.
Source: abcnews - 🏆 5. / 83 Read more »
Land banking: Why this property investment is a really bad ideaHolding on to land for extended periods, leaving it idle anticipating capital appreciation and future development, is drawing more scrutiny.
Source: FinancialReview - 🏆 2. / 90 Read more »
October shaping up to be a ‘pretty busy month’ for the property marketREA Group Senior Economist Eleanor Creagh says October is shaping up to be a “pretty busy month” for the property market. Ms Creagh said despite this, auction clearance rates are holding “pretty firm” with the uplift in stock coming to the market, which reflects the improvement in conditions on the ground.
Source: SkyNewsAust - 🏆 7. / 78 Read more »