50% of Darwin resales made a loss: CoreLogic Pain & Gain Report
Over the June 2019 quarter, resales of Darwin properties generated $25.7 million in profits and $15.6 million in losses, according to the latest findings from CoreLogic's Pain & Gain report.
Based on these figures, Darwin generated 0.2% of national profit and 2.1% of the total value of losses.
Each region of the city has recorded a high proportion of resales at a loss with at least one in two resales over the quarter in Darwin and Palmerston at a loss, while around one in five resales were at a loss in Litchfield.
The share of units resold at a loss recorded a steady rise over the quarter while there was a slight drop in the share of houses resold at a loss.
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The Pain & Gain report also examined other Australian capital cities like Perth and Hobart, as well as trends such as investors being more likely to resell property at a loss than owner occupiers.
