Sales rise at a cost
TWOofRPData’s latest reports have revealed the number of property sales in Tasmania have increased over the past year, but sellers are still having to discount heavily on their asking price.
The monthly property market and economic update for January shows house sales were up by 32.6 per cent over the three months to October 2013 in Hobart compared with the same time the previous year.
Unit sales were also up 17.8 per cent.
However, Hobart has the highest proportion of loss-making resales of all the capital cities, according to the latest ‘‘Pain and Gain’’ report for the September quarter of 2013.
The Clarence region recorded the highest percentage of lossmaking resales at 26 per cent and a total value loss of $1,229,500 for the quarter.
Glenorchy (24.1 per cent) and Kingborough (21.1 per cent) council areas also have more than one in five resales at a loss. Hobart (10.1 per cent), Brighton (12.5 per cent) and the Derwent Valley (13.3 per cent) suffered the lowest proportions.