New analysis of the housing market reveals a spike in Australians selling their homes after just two years for losses of about $30,000.
A report into resales by CoreLogic showed 8.2 per cent of owners were making a loss on their home in the June quarter this year, with capital cities the worst hit by disappointing sales.
House prices remained fairly stable, with only 3.5 per cent of all sales making a loss across the country. Investors were about three times more likely to make a loss from resale than owners, CoreLogic found, and their losses were also larger on average - $40,000 per sale compared with $30,000. Despite the spike in losses, house prices have still managed to raise the profitability of sales for the first time in a year.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon announces huge new sale event ahead of Black FridayPrime Big Deal Days is set to save Aussies hundreds on their gift-giving bill.
Read more »
Everything you need to know for Australia’s ODI tour of IndiaAussies face cricket heavyweights in final World Cup warm-up: Ultimate Guide
Read more »
Aussies impress with strong World Challenge Cup results in ParisThe Australian men’s and women’s Artistic Gymnastics team have taken home two silver medals during the World Challenge Cup in Paris over the weekend - thanks to the strong performances of Georgia Godwin and Mitchell Morgans.
Read more »
Australians spending nearly $20 billion on food that goes to wasteAustralians are spending nearly $20 billion on food that goes to waste. Polling from the Australia Institute suggests consumers support policies - like labelling reforms - to reduce food waste. However, with retailers taking in a $1.2 billion profit, there may also be less reason for supermarkets to buy into those changes. The Australia Institute Research Director Rod Campbell says polling shows that over 50 per cent of people don’t understand the meaning of a best before date. “They throw out a lot of food that is perfectly safe to eat,” he told Sky News Australia.
Read more »