The Sydney suburbs where properties are selling at a loss
More than one in 12 Sydney properties sold last quarter did so at a loss amid the deepening market downturn, and results for sellers in some hard-hit pockets were worse.
Sydney home sellers are increasingly having to accept prices below what they paid, CoreLogic’s latest Pain & Gain Report shows, as 8.8 per cent of property sales traded for a nominal loss in the December quarter – the third-highest rate in a capital city after Darwin and Perth.
It is the highest proportion of loss-making sales since mid-2019, when 9.3 per cent of homes sold at a loss, and is up from 7.8 per cent the previous quarter. It is also double the decade average of 4.4 per cent.
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