For those in denial with the Australian Property market. Here is...

For those in denial with the Australian Property market.

Here is a OUTSTANDING graph from Alan Kohler last night......hint the same would be going on in other areas Port Headland etc....and QLD mining regions....


https://theconstantinvestor.com/charts/


From the thewest.com...Perth house prices teetering...

One in five Perth homes sell at a loss

One in five Perth homes and a third of all regional WA homes are being sold at a loss.

Figures compiled by CoreLogic show loss-making sales in Perth are now close to an historic high as sellers find it increasingly difficult to make back their property outlay.

Over the three months to the end of June, 20.1 per cent of homes sold in Perth were done so at a loss.
The worst hit area is central Perth where almost 53 per cent of homes sold through the June quarter were at a loss averaging $60,000 per property.

The next hardest hit was Mosman Park where 37.5 per cent of properties lost money on being sold. The average loss was $30,000.

In neighbouring Cottesloe, a third of properties went for a loss.
Another area doing it tough is Mandurah were 32 per cent of homes went for a loss.

Outside of the city, outback WA is one of the worst performed parts of the country where losses are hitting 44 per cent.

Most of these are standalone homes compared to central Perth which is dominated by units.

Withstanding the price onslaught is Peppermint Grove where no properties were sold at a loss during the quarter.

The suburb has the longest hold period of any in the city, at almost 15 years, with the average profit on sales $338,000.

Across the city, 17.9 per cent of Perth houses were sold at a loss during the quarter compared to more than 30 per cent of units.

Perth and Darwin (where 24.2 per cent of properties sold lost money for their owners) stood out among all capitals.

In Sydney just 2.4 per cent of properties lost money while in Melbourne it was 4.4 per cent.
CoreLogic’s head of research Cameron Kusher said units were more likely to be owned by investors than houses.

“The ability to offset losses on investment properties against future capital gain is likely to provide investors with much more of an incentive to sell at a loss than owner occupiers,” he said.

https://au.news.yahoo.com/thewest/wa/a/32748614/one-in-five-perth-homes-sell-at-a-loss/#page1