Property Market Looking Good For 2015

The property market was certainly looking up in 2014. More than 90 percent of properties being resold made a profit, but the chance of gains depended largely on how long the real estate was held.

In 2014, only 9.3 percent of properties sold in the September quarter fetched a price less than what was paid for them. The average loss for these resale’s was $62,246. In comparison to the gain figure this is a small amount of pain.

The average gross gain amongst the profit-making resale’s was $223,870, with a total gain of $13.5 billion over the original prices.

These gain figures however, are largely dependent on how long the property had been held for. Those who had bought before the start of 2008 had seen their property value at least double. However, only 4.1 percent of those who bought from 2008 onwards saw such gains.

In the segment of people who had bought after 2008, 15 percent had made a loss and those who gained only made 25 percent.

Sydney, however, was a strong performer and have the record lowest loss rate. In Sydney only 2.6 percent made a loss in comparison to Hobart’s 16 percent, Perth’s 6 percent, Melbourne’s 6.5 percent, Adelaide’s 9.5 percent, Darwin’s 9.6 percent, Brisbane’s 11 percent and Canberra’s 12.2 percent.

 


This article was originally published on PropertyJobs.com.au