Mining town property craters

Tuesday 29 September 2015

Core Logic-RP Data has released its Housing Pain and Gain report for the June quarter, which examines the proportion of sellers that achieved gains/losses on their properties based on the previous purchase price of the dwelling.

According to RP Data, the vast majority (90.9%) of properties resold over the quarter did so at a profit, with 30.8% of homes reselling for more than double their previous purchase price. By comparison, 9.1% of all homes resold recorded a gross loss when compared to their previous purchase price.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.