Loss

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<p><span>More than 45% of properties in Mackay were sold for less than purchase price during the March 2015 quarter, according to the the CoreLogic RP Data pain gain report.</span></p>
<p><span>It leads the nationwide property resale losses for the quarter which were also felt in Fitzroy (26.5%), outback South Australia (13.2%), outback Western Australia (23.9%) along with the Hunter Valley (excluding Newcastle) at 9.3%.</span></p>
<p><span>Two years ago Fitzroy had a 10% resale loss, Mackay 14.4%, outback South Australia 12.3% and outback Western Australia 11.8%.</span></p>
<p><span>The report noted the decline of resources investment and falling commodity prices as having an impact on these markets.</span></p>
<p><a href="/images/2015/06/23/700_pain2.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><img src="/images/2015/06/23/700_pain2.jpg" alt="" style="line-height: 1.3em;"><span style="line-height: 1.3em;"><br></span></p>
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mick.cee-iDmgDDAmu8

Mackay resale record loss in March quarter: CoreLogic RP Data 

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<p style="line-height: 1.3em;">Over the March 2015 quarter, 9.1% of all homes recorded a gross loss when resold, and when compared to their previous purchase price, according to CoreLogic RP Data.</p>
<p style="line-height: 1.3em;">This figure was slightly higher than the 8.6% recorded at the end of 2014, but lower than the 9.6% over the same quarter last year. </p>
<p style="line-height: 1.3em;">There was an average loss of $69,468. </p>
<p style="line-height: 1.3em;">But while 9.1% of resales were transacted at a loss, 90.9% of properties resold over the quarter sold at a profit.</p>
<p style="line-height: 1.3em;">CoreLogic RP Data's Cameron Kusher noted that 30.7% of homes resold for more than double their previous purchase price. </p>
<p style="line-height: 1.3em;">"Across those homes which sold at a profit, the total value of this profit was recorded at $13.8 billion with the average gross profit recorded at $230,633." </p>
<p style="line-height: 1.3em;">The lowest proportions of loss making resales are currently found in: Sydney (2.4%), Melbourne (6.2%), Perth (6.7%) the regional NSW (8.6%). </p>
<p style="line-height: 1.3em;">The highest proportions of loss making resales were recorded in: Regional WA (21.0%), Regional Qld (20.9%), Regional TAS (19.8%) and Regional SA (17.0%). </p>
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<p>Across the country, those homes that resold at a loss had an average length of ownership of 6.0 years. </p>
<p>Across all sales recording a gross profit the average length of ownership was recorded at 10.0 years, while homes which sold for more than double their previous purchase price were owned for an average of 16.8 years. </p>
<p>According to Mr Kusher, the data also highlights the fact that ownership of property, whether for investment or owner occupier purposes should be seen as a long-term investment. </p>
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<p>CoreLogic RP Data's quarterly Pain &amp; Gain report, <span>highlighted regions where properties sold for less than their initial purchase price.</span></p>
<p>Leading the results for the largest proportion of loss-making re-sales is unit dwellings within lifestyle markets. </p>
<p>According to research analyst Cameron Kusher, an interesting trend to emerge throughout each of the capital city housing markets is that the proportion of loss-making resales is now lower than each of their recent post financial crisis peaks. </p>
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<p>Sydney, Melbourne, Brisbane, Hobart &amp; Canberra recorded the lowest proportion of loss-making resales while in the remaining capital cities the proportion of losses is trending higher. </p>
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<p>Across Perth and Darwin, the results show a rapid lift in the proportion of loss-making resales over recent months. This is mirroring broader housing market conditions where value growth has stalled, listings are rising, sales are falling and rental rates are reducing. </p>
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<p>For the regional areas of the country, the proportion of loss-making resales is higher than those within the capital cities with resales trending lower in Regional NSW, Regional SA and Regional TAS, is relatively flat in Regional Vic and Regional Qld and trending higher in Regional WA and Regional NT.</p>
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jchancellor-FAypfDUnLy

Average $69,000 loss when 9% sold property in 2015 March quarter

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<p><span style="line-height: 1.3em;">Mining boss Peter Freyberg has sold his </span><span style="line-height: 1.3em;">home in Darling Point for a big loss.</span></p>
<p><span style="line-height: 1.3em;">Freyberg, the Australian head of Glencore Xstrata, bought his four-bedroom residence ahead of the GFC on Australia Day eve in 2008 from property developer Eduard Litver for $7 million.</span></p>
<p><span style="line-height: 1.3em;"><a href="https://www.realestate.com.au/property-house-nsw-darling+point-119135903" target="_blank">He secured $5.5 million</a> last </span>month, the title records show.</p>
<p>He is off to <span style="line-height: 1.3em;">the $12,365,000 </span><span style="line-height: 1.3em;">penthouse in the landmark Eliza building</span><span style="line-height: 1.3em;"> on Hyde Park which he bought with</span><span style="line-height: 1.3em;"> his wife Kylie Low.</span></p>
<p><span style="line-height: 1.3em;">They met at the Darling Point </span>estate<span style="line-height: 1.3em;"> which comes with shared 10 car basement garaging. They didn't meet on the tennis court.</span></p>
<p><span style="line-height: 1.3em;">Her neighbouring home was bought in softer 2009 </span><span style="line-height: 1.3em;">for $5.6 million. She sold for $7 million last month.</span></p>
<p><span style="line-height: 1.3em;">Michael Pallier, of Sotheby's International and Adam Ross, of Savills, had the listings.</span></p>
<p><span style="line-height: 1.3em;">Bob McMillan was the buyer of <a href="https://www.youtube.com/watch?v=xO5t6wRSXuE" target="_blank">both </a></span><span style="line-height: 1.3em;"><a href="https://www.youtube.com/watch?v=xO5t6wRSXuE" target="_blank">interconnecting luxury homes</a> on Mitchell Road, called </span><span style="line-height: 1.3em;">The Palms and The Pavilion</span>.</p>
<p><span style="line-height: 1.3em;">They were originally developed as part of the Babworth estate by Nati Stoliar's Kimberley Securities.</span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;">Printing industry boss Bob McMillan may now list his Hills district estate, Dunrath which </span><span style="line-height: 1.3em;">was built by Francis de Groot in the late 1930s.</span></p>
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Loss

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