CoreLogic's latest quarterly Pain and Gain report shows that Hobart, Regional Victoria, and Canberra have the best capital gains to be found. The study, which compares the property prices sold in the September Quarter with their previous sales, found that 98 percent of the houses sold in Hobart were sold on a profit basis.
"The number of
registrations in capitals is 10% lower than a year ago, and new
registrations added to the market are 15% lower than those a year
ago. As buyer activity increases, the lack of available stock could
see a renewed sense of FOMO [fear of missing out] supporting
continued price growth, "suggests Tim Lawless, research manager
at CoreLogic.
Regional Victoria
and Canberra finished second at 96.9%, followed by Melbourne at 96.6%
and Regional Tasmania at 96.4%. About 95 percent of Brisbane houses,
like 92 percent of Adelaide houses, sold at a profit. Sydney lagged
94.3 percent behind Western New South Wales. Apartments were less
competitive than houses, 80.2 percent of unit sales at the national
level made a profit.
"Despite a nationwide downward trend, the vast majority of homeowners continue to resell their properties at a profit, which highlights the positive long-term trend in market conditions. During the three-month period ending in June 2019, homeowners were more likely than property investors to make a profit by selling their property, "he said.
Hobart (98.5
percent); Regional Tasmania (96.3 percent); Regional Victoria (94.2
percent); and Regional NSW (92.1 percent) are among the best
performing apartment markets that produced results above national
averages. The apartment markets were moderately performing in Sydney
87 percent and Melbourne 85 percent. Just 63 percent of units in
Brisbane and 48 percent of units in Perth sold for a profit.
Read Full Article Here: Most Cities Regions Gained
