Mij Gibson Oct 8, 2020
In Sydney, says the CoreLogic Pain and Gain report, 89 per cent of properties resold for a profit and 11 per cent resold for a loss over the June 2020 quarter.
The most profitable area in Sydney for resales was The Hawkesbury, where 94.5 per cent of properties sold for more than their original purchase price. This is good news for Marsden Park but you may have to wait a few years to see the profits.
CoreLogic says that nationally, houses that had sold for a profit had been held for an average of 10.0 years and units 8.8 years. That's not very comforting if you're looking for a quick turn-around!
The houses that had sold at a loss had typically been held for 5.8 years, while units that sold at a loss were generally held for a similar period of 5.7 years says CoreLogic.