Property pain may come when band-aid is ripped off
Property sales in the first quarter of 2020 were rarely made at a loss to the seller, according to a newly released report suggesting COVID-19 had not wrought havoc on the market at that stage, but the worst might still be to come.
Apartments and units have a higher proportion of loss-making sales than detached houses. Photo: Shutterstock (Image source: Shutterstock.com)
Property sales in the first quarter of 2020 were rarely made at a loss to the seller, according to a newly released report suggesting COVID-19 had not wrought havoc on the market at that stage, but the worst might still be to come.
New loan commitments for housing fell by 11.6 per cent month-on-month in May, according to seasonally adjusted figures from the Australian Bureau of Statistics (ABS).
The fall was largest on record and mainly driven…
