There is a place in Queensland where sellers have a considerable advantage in terms of resale property transactions, that would be the Redlands.
According to the latest CoreLogic Pain and Gain report, the city of Redland was the brightest place in terms of resale earnings for the resale account in June.
Local governments recorded the lowest proportion of resales at a loss. According to the report, 90.7% of sales in the Redlands yielded a profit, exceeding the national average of 89.7%. The Queensland Real Estate Institute's General Manager, Antonia Mercorella, said that this could be due to the city's appeal for a wide range of demographics, making it an ideal venue for sellers .
"This is evidenced by its high level of local migration, with REIQ data indicating that several suburbs in Redland City are among the top 20 newcomer destinations in Queensland," she said.
Redland homes have a median price of $ 520,000, according to the REIQ Quarterly Market Monitor.
Other profitable Queensland areas mentioned by the CoreLogic study include Lockyer Valley and Moreton Bay. In contrast, the largest proportion of resale losses occurred in Scenic Rim, Somerset and Brisbane.
In the capital, only 87% of the properties were sold for profit. Brisbane accounted for 8.2% of the total value of resale earnings nationally and 5.2% of losses.
Read also: Brisbane predicts an expansion of 20%
In terms of units, 35% of resales in Brisbane were at a loss. This is likely due to rising supply levels in key downtown areas and the resulting decline in unit values.
"In recent years, Brisbane has experienced an extraordinary number of developments in apartments and flats.Although an increasing number of Queenslanders choose to live in flats, the apartment is the only one in the city. supply has far exceeded demand, which has resulted in lower prices, "said Mercorella. ]
St Kilda West
crossing of ropes
Get help for your real estate investment
Do you need help in finding the right loan for your investment?
When you invest in real estate, it is important to make sure that you do not only have the lowest available rate that you can get, but you also have the features of ready adapted to your needs.
Just fill in a few details below and we will then make the necessary arrangements for a local Australian mortgage broker to contact you and solve the problem What features or what types of loans are suitable for your needs? We will even help with the paperwork. In addition, an appointment is free.
We value your privacy and treat all your information seriously – you can check