We like CoreLogic RP Data’s quarterly Pain and Gain Report – it’s full of interesting stats about trends in property re-sales.
The December 2015 report says the vast majority of properties sold in the September 2015 quarter were sold for more than they were bought.
- 91.6% of properties resold for profit over the quarter.
- 31.4% of homes sold for more than double their purchase price.
- The average gross ‘gain’ $265,605 per sale.
- Only 8.4% of homes resold recorded a gross loss compared with their original purchase price, down slightly from 9.2 percent for the June quarter.
- The average ‘pain’ felt for these properties was $63,221.
- Homes resold for a loss had an average length of ownership of 6 years.
- For profit sales, average length of ownership was 10.1 years
- Homes selling for more than double previous purchase price were owned average 16.9 years.
According to CoreLogic RP Data, “Whether for investment of owner occupation, the results highlight the fact that property ownership should be seen as a long-term investment”.
Please let me know if you’d like me to email you a copy of the CoreLogic RP Data Pain & Gain Report.
By: Casey Macneil, Strata Care Australia news editor – firstname.lastname@example.org