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Melbourne family’s New Year’s resolution: finally sell house 18 Massey St, Box Hill South sold for $1.445 million in August, making a substantial profit on its previous transaction for $818,000 in 2013.Source:Supplied CoreLogic head of research Cameron Kusher said the data highlighted the strength of Melbourne’s near-bulletproof house market in recent years. But it was a different story for the city’s units and apartments — the report found one in ten resold at a loss in the quarter. “That figure Best mortgage broker Melbourne North is starting to fall, but it’s still a lot higher than what it is for houses,” Mr Kusher said. “We’ve seen capital growth lagging behind in units. That’s the driving force behind the city’s weaker markets like Melbourne (CBD), which is almost dominated by units.” About a quarter of CBD dwellings sold in the three months to September 30 earned less than their vendors had paid for them, equating to a total loss of $8.47 million at a median of $40,507 per sale. High proportions of homeowners in Stonnington (16.9 per cent) and Moonee Valley (11.2 per cent) also experienced pain, making $2.88 million and $2.72 million in total losses respectively. Mr Kusher said these deficits were largely driven by an influx of off-the-plan apartment projects creating oversupplied markets in these areas. CoreLogic RP Data head of research Cameron Kusher.Source:Supplied On the flip side, every single home sold in the Mitchell, Moorabool and Murrindindi council areas Mortgage broker Oak Laurel Yarraville, 4 Beverley St, Yarraville VIC 3013, 0430 129 662, oaklaurel.com.au in the September quarter made a profit.
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