Revealed: Qld’s best and worst performing resale suburbs

first_imgCoreLogic’s Pain & Gain Report reveals the resource regions recorded the highest number of loss making resales in the September quarter of 2018.But Mr Kusher said that could present some good buying opportunities.“If you buy the right product, they still have pretty good rental returns,” he said.“Not the 15/16 per cent you could once get, but a lot of them would generate 7/8 per cent (rental yield), which is hard to find anywhere else.”More than a quarter of properties sold in Cairns in the September quarter were at a loss, but other coastal markets fared better.Around 10 per cent of homes on the Gold Coast were sold at a loss and only 5.8 per cent were loss making on the Sunshine Coast.Gross loss-making resales in Queensland in September quarter 2018:Region % of all sales Median loss Total value of lossBrisbane 12.1% -$31,000 -$19.15mGold Coast 10.5% -$40,000 -$20.93mIpswich 9.8% -$19,000 -$1.027m Lockyer Valley 11.4% -$26,750 -$175,000Logan 10% -$23,000 -$3.1mMoreton Bay 8.2% -$30,000 -$4.45mRedland 6.7% -$32,000 -$1.55mScenic Rim 8.4% -$15,000 -$323,000Somerset 18.4% -$20,000 -$337,000Sunshine Coast 5.8% -$25,000 -$4.15mToowoomba 12.7% -$15,500 -$1.17m (Source: CoreLogic) The Brisbane skyline As seen at sunset. Image: AAP/Darren England.The CoreLogic Pain & Gain September quarter report reveals the total value of resales at a profit across greater Brisbane was $1.2 billion, while the total value of resales at a loss wasrecorded at $29.9 million. Brisbane generated 8.4 per cent of the total value of resale profits nationally over the quarter and 6.1 per cent of the losses. “The unit market is really dragging down the performance of Brisbane as a whole, although the proportion of resales at a loss are down slightly from the previous quarter,” CoreLogic senior research analyst Cameron Kusher said.“It’s still early days to say whether the number of loss making unit resales is starting to fall, but the good news is it has steadied for the moment.” A new report has revealed the regions where the most homes sell at a loss. Image: AAP/Richard Walker.ONE in 10 Brisbane homes were sold at a loss in the third quarter of 2018, but there’s good news for home hunters looking for a bargain in regional Queensland.It’s a case of safe as houses when it comes to investment in Brisbane, with new figures revealing units made up nearly a third (29.2 per cent) of the lossmaking sales in the city in the September quarter, with only 3.8 per cent of houses reselling at a loss.center_img Units are 7.7 times more likely to resell at a loss in Brisbane than houses. Image: AAP/Renae Droop.Throughout southeast Queensland, the council regions with the lowest proportion of resales at a loss were the Sunshine Coast, Redland and Moreton Bay.The highest proportion of resales at a loss occurred in Somerset, Toowoomba and Brisbane. In regional Queensland, 19.1 per cent of homes were sold at a loss during the quarter — one of the regions with the highest share of losses nationally.Central Queensland recorded the largest number of resales at a loss at a whopping 49.4 per cent, followed by 47.3 per cent in Townsville and 45.9 per cent in Mackay-Isaac-Whitsunday.Mr Kusher said that while losses in the regions remained high, they had come down from their peaks.“Prices in many of those areas have come down a long way,” Mr Kusher said. “We’ve seen sales volumes stabilise and a slight pick up in prices, but they’re still a long way from where they were when they peaked. “People selling are those who bought at, or close to, the peak of the market.”More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agolast_img

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