Who’s winning and who’s losing when they resell their properties in Melbourne | Pain and Gain Report

The latest Corelogic Pain & Gain Report shows who’s winning and losing when they resell their properties in Melbourne.

Over the March 2019 quarter, resales of Melbourne properties generated $3.363 billion worth of profits and $44.8 million in losses.

MelbourneThese figures indicated that Melbourne generated 23.5% of total resale profits nationally over the quarter as well as producing 7.6% of total resales losses.

Over the quarter, there were no resales at a loss in Macedon Ranges and only a small proportion in Banyule, Melton and Moorabool.

The council regions with the highest proportion of resales at a loss were Melbourne, Stonnington and Yarra.

With dwelling values continuing to fall throughout the city, the share of houses and units resold for a loss rose over the quarter and is expected to rise further over coming quarters.

As you can see from the graph below, in Melbourne, units were higher than 6.8 times more likely to resell at a loss than houses

A2

Gross loss-making sales, Mar-19 qtrGross profit-making sales, Mar-19 qtr
 

Region

 

% of all sales

Median hold period 

Median loss

Total value of loss 

% of all sales

Median hold period 

Median profit

Total value of profit
Banyule0.5%4.6-$70,000-$70,00099.5%10.7$360,000$90,208,889
Bayside11.7%3.2-$55,000-$2,098,90088.3%11.1$513,500$91,391,822
Boroondara12.3%4.2-$78,200-$6,611,50087.7%12.1$563,000$146,709,006
Brimbank2.9%1.6-$31,250-$667,43397.1%11.4$303,000$90,334,590
Cardinia2.6%1.4-$22,800-$228,05097.4%6.7$220,000$75,194,589
Casey0.8%1.7-$34,000-$179,08099.2%8.4$300,100$252,000,391
Darebin5.7%3.1-$39,194-$516,37894.3%8.6$265,000$80,848,099
Frankston2.3%1.3-$23,750-$323,40097.7%9.4$270,000$127,380,900
Glen Eira12.1%4.2-$39,500-$1,389,12587.9%9.9$329,500$87,568,502
Greater Dandenong3.6%1.7-$12,500-$208,40096.4%11.5$327,750$64,860,965
Hobsons Bay3.0%3.2-$38,000-$240,50097.0%11.5$377,500$68,513,574
Hume1.5%1.1-$22,000-$256,50098.5%8.4$252,500$128,441,803
Kingston4.2%3.2-$38,151-$760,77295.8%9.4$310,192$118,573,037
Knox4.3%2.1-$51,250-$884,00095.7%11.8$325,500$122,602,294
Macedon Ranges100.0%9.2$430,000$20,295,719
Manningham11.1%3.6-$47,500-$1,255,70088.9%12.2$548,000$98,555,594
Maribyrnong11.5%6.8-$45,995-$2,462,63588.5%9.3$233,000$53,825,910
Maroondah4.1%1.7-$25,556-$403,11295.9%10.1$307,000$98,549,808
Melbourne31.8%7.2-$44,406-$5,463,02468.2%9.9$89,550$46,127,521
Melton1.1%2.8-$13,250-$96,00098.9%7.0$210,000$90,429,561
Monash11.2%3.5-$47,900-$3,602,11288.8%12.3$464,500$133,108,438
Moonee Valley13.6%4.7-$54,000-$1,767,24086.4%10.1$369,000$79,870,801
Moorabool1.1%0.5-$4,000-$4,00098.9%8.6$209,000$13,714,810
Moreland10.4%4.2-$35,500-$1,483,39089.6%9.3$260,000$97,874,588
Mornington Peninsula1.6%1.9-$72,500-$950,00098.4%9.2$327,000$254,921,522
Nillumbik2.7%2.4-$30,100-$97,10097.3%12.1$451,750$53,632,321
Port Phillip17.0%6.3-$40,000-$3,221,63783.0%9.3$214,000$82,733,165
Stonnington24.0%6.8-$53,000-$4,840,49476.0%9.6$270,000$63,853,704
Whitehorse8.7%3.6-$29,000-$1,053,50091.3%14.7$558,300$132,427,512
Whittlesea3.0%3.6-$15,500-$375,97297.0%7.7$315,000$112,477,945
Wyndham2.4%1.6-$35,000-$778,40097.6%7.9$284,700$181,543,253
Yarra18.5%5.0-$35,000-$2,077,50081.5%8.8$300,000$64,885,330
Yarra Ranges2.2%2.2-$37,350-$423,20097.8%10.0$300,000$126,428,869

You may also want to read:

Latest Pain & Gain Report shows who’s winning and losing when they resell their properties

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Cameron Kusher

About

Cameron Kusher is Corelogic RP Data’s senior research analyst. Cameron has a thorough understanding of the fundamentals such as demographics, trends & economics. Visit www.corelogic.com.au


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