NewsTASHobart property resale losses remain low despite market slowdown: CoreLogic Pain & Gain Report
Hobart property resale losses remain low despite market slowdown: CoreLogic Pain & Gain Report
Staff reporterOctober 31, 2019
Hobart resales of properties over the June 2019 quarter generated $185.0 million in profits and $1.6 million in losses, according to the latest findings from CoreLogic's Pain & Gain report.
Based on these figures, Hobart accounted for 1.1% of profits nationally over the quarter and 0.2% of losses.
Sorell had no resales at a loss over the quarter and Glenorchy and Hobart had less than 2% of resales at a loss.
Brighton was the only region of Hobart in which more than 5% of resales were at a loss over the quarter.
Values in Hobart are increasing at a much slower pace relative to recent years.
CoreLogic said it would expect the share of resales at a loss will be fairly steady over the coming quarters.
