Brisbane’s most gain and most pain
Eliza Owen discusses Sales data from the September 2019 quarter that shows only 5.4% of house sales across Brisbane sold at a loss over the quarter, but over a third of units sold for a loss (37%). Some of the regions that had the worst results in the CoreLogic pain and gain analysis reflected areas where there was a high concentration of investors or apartment stock sold.
The Brisbane suburbs with the highest portion of loss making sales were:
South Brisbane (64%)
West end (50%)
Fortitude Valley (42%)
Shannon Davis from Image Property also commented on South Brisbane
On the Gold Coast, there was a similar pattern of high concentrations of investor-owned, unit sales making losses at resale. However, the portions were not as severe. The highest portions of loss making sales on the Gold Coast were
Biggera Waters (30%)
Surfers Paradise (29%)
There was a high volume of sales in these suburbs in the quarter (708 sales between these suburbs), of the loss making sales – 62% were investor-owned – 95% were units.
Brisbane’s most gain, there were 17 suburbs where 100% of property sales over the quarter made some kind of gain on the previous sale price. Here’s a selection based on the highest sales volumes:
Mount Cotton (34 sales)
Greenbank (31 sales)
Bridgeman Downs (31 sales)
Bray Park (28 sales)
Mansfield (26 sales)
Amanda Waters from LJ Hooker Aspley/Bridgeman Downs also gave us an overview.
The Gold Coast’s highest portion of profitable sales were:
Clear Island Waters
Each of these regions had 100% profit making sales.
John Parkes from Ray White Tugun also commented.
In the broader regions of QLD, Townsville had the highest regional portion of loss-making sales at 38% in the September quarter
Mackay – Isaac – Whitsunday region had 37% loss-making sales, but this was down from a peak of 48% in October 2016
Central qld saw 36% loss-making sales (down from a peak of 48% in June 2018)
Sunshine Coast was the star of regional QLD, with 96% of sales making a profit.
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