Homes in the Sydney region saw the lowest level of profit loss in sales over the September 2013 quarter, according to a new report from RP Data.
"Across the broad regions of Australia, the most significant proportion of loss making
re-sales are being recorded within the Regional Queensland marketplace (26.2 per cent) and
in Regional Tasmania (20.7 per cent)," stated the report, released in December 2013.
The weakness in these markets was attributed to home value correction and weak capital growth conditions.
However, Sydney led the pack when it came to the lowest proportion of loss making resales. Sydney boasted a proportion of 4.8 per cent loss, beating out Perth (4.9 per cent), Canberra (7.5 per cent) and Melbourne (7.7 per cent).
This is great news for owners of real estate in St. George considering putting their property on the market, as data shows that home sellers in the Sydney region are more likely to make a profit at the moment.