A greater proportion of property sellers in the Australian Capital Territory (ACT) profited from the sale of their homes in the last quarter of 2020, according to CoreLogic's latest “Pain and Gain” report.
In the quarter, the share of for-profit sales rose to 92.9% from 90.7%. However, there was a huge difference between homes and units, with the former reporting a higher share of for-profit sales at 98.5% compared to the latter's 85.1%.
"The home and housing segments saw an increase in for-profit sales during the quarter, and home sales had the largest nominal gain impact of any home market in the capital", indicates the report.
Loss sales were most common in the suburb of Belconnen. In terms of housing type, 87.9% of all loss-making sales were units, of which 73% were investment property.
Canberra has been one of the best performing housing markets in all of the capital cities. The value of housing in the city has increased 3.1% since the start of the year.
Even units, which in recent years have stagnated in the face of sharp increases in house prices, now regularly report gains.
"As COVID-19 remains well contained and consumer confidence is boosted by the deployment of a vaccine, home values ??could continue to rise for much of 2021," the report says.
Top suburbs:
Collingwood
,
alderley
,
coorparoo
,
Wentworthville
,
Kariong
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in real estate, it is important to ensure that you not only have the lowest available rate possible, but also have the right loan features for your needs. needs.
You only need to fill in a few details below and we will then arrange for a local mortgage broker to contact you and determine the characteristics or types of loans that suit your needs. We'll even help you with the paperwork. In addition, an appointment is free.
We value your privacy and take all your information seriously – you can check
our privacy policy here
