Pain or Gain? Adelaide’s hotspots for property profit and loss revealed

THE Burnside, Prospect and Unley council regions, as expected, are Adelaide’s hotspots for profit-making property sales.On the flip-side, Playford, the Adelaide CBD, Walkerville and Mount Barker are our areas most likely to turn a loss, according to the new Pain and Gain Report released by CoreLogic recently, which looks at profit and loss-making sales across the country.

Other Top performers include Port Adelaide, Tee Tree Gully & Gawler in the North along with Mitcham and Marion in the South

How did your council area do? Percentage of loss making (pain) sales, compared to profit making (gain) sales:

Adelaide: Pain 14.3, Gain 85.7                                                               Adelaide Hills: Pain 3.7, Gain 96.3

Burnside: Pain, 0.9, Gain 99.1                                                               Campbelltown: Pain 9.8, Gain 90.2

Charles Sturt: Pain 8.3, Gain 91.7                                                        Gawler: Pain 5.8, Gain 94.2

Holdfast Bay: Pain 9.2, Gain 90.8                                                         Marion: Pain 3.8, Gain 96.2

Mitcham: Pain 2.6, Gain 97.4                                                                Mount Barker: Pain 11.9, Gain 88.2

Norwood, St Peters: Pain 8.2, Gain 91.8                                       Onkaparinga: Pain 9.1, Gain 90.9

Playford: Pain 22, Gain 78                                                                     Port Adelaide Enfield: Pain 7.7, Gain 92.3

Prospect: Pain 2.3, Gain 97.7                                                               Salisbury: Pain 9.6, Gain 90.4

Tea Tree Gully: Pain 6.2, Gain 93.8                                                    Unley: Pain 2.5, Gain 97.5

Walkerville: Pain 15.4, Gain 84.6                                                       West Torrens: Pain 8.5, Gain 91.5                 

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Overall, this shows Adelaide’s metro property market makes far more wins than losses — in the first quarter of 2018, resales generated $491.1 million in profits and $14.9 million in losses.

Over the first quarter of 2018, only 8.2 per cent of properties across wider Adelaide res

old at a loss- a slight increase on our 7.5 per cent figure for the same quarter last year.

The report indicates houses are outperforming units when it comes to turning a profit, and that owner-occupied homes generally do better than investment properties — just over 6% of owner-occupied homes sold at a loss during the quarter, compared to 11.5 per cent of investor-owned properties.

 

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This is most likely because investors are more willing to incur losses, which can be offset against future capital gains. 

Real Estate Institute of South Australia (REISA) CEO Greg Troughton agrees, saying speculative investments are easier to walk away from than family homes.

Looking at Adelaide’s top loss-making areas, Mr Troughton noted they are all popular with investors. “Some may well have timed their run on potential gains a bit too late,” He said.

 

 

 

 

 

 

 

 

 

 

Original Article: Adelaide’s hotspots for property profit and loss named – Eleanor Miller

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