A Sellers Market: 1/3 of houses are selling for TWICE what the owners paid for them

[Cassandra]

A rare treat from the Dailymail.

http://www.dailymail.co.uk/news/art...ne-houses-selling-TWICE-owners-paid-them.html


A report has shown that only 9 percent of homes in last quarter have recorded a loss at their sale with nearly a third selling for double what owners paid. The total vale of these profitable resales was over $17 billion three and a half times more than the total of the loss. Sydney recorded the lowest loss-making resales at just 2.4 percent which is down from 3.5 percent in a year The typical home is now owned for over ten years before it is resold with Melbourne homes being held longest

 

[Scott No Mates]

Yes but 2/3 are selling for less & 1 in 11 are selling at a loss.

 

[Cassandra]

For some, the glass is always half empty, rather than half full.

The 1 in 11 who sold for a loss deserve sympathy. Perhaps they paid too much in the first place or perhaps they did not do enough due diligence with agents before selling. Big mistake.

The 1/3 who more than doubled their money have done well. No sympathy for them - just plain unadulterated envy.

 

[thatbum]

This shouldn't be really surprising news considering the stats on the average length of ownership before a person sells - combined with the average growth rates of property in Australia.

Not sure what can be extrapolated from all that to be honest.