More Australian homeowners offloading properties at loss as interest rate rises take toll, new data shows

Unit owners particularly vulnerable as profitable national housing sales sank to 92.3% in the three months to March 2023, according to CoreLogic data

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Properties sold at a loss increased in the March quarter with almost one in six units offloaded for less than the owner paid, the data group CoreLogic said.

As owners eyed the rising cost of servicing their debts, the national proportion of resales with a nominal profit sank to 92.3% in the January-March period, down from 93.2% in the preceding three months and marking the third quarter in a row of declines.

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