Every seller made a profit in two council regions to Melbourne’s outer west amid lockdowns last year.
And there are signs falling dwelling values could affect profitability on recent purchases in the coming months.
But social distancing measures and the temporary ban on in-person inspections in Melbourne had resulted in fewer transactions compared to the June quarter, according to the report.“The increase in the rate of profitmaking sales is a reflection of strong capital growth across Australian dwelling markets despite Covid-induced disruptions to transaction activity,” Ms Owen said.
CoreLogic considered Moorabool Shire, between Melton and Ballarat, as part of greater Melbourne in the report. Moorabool, however, was not subject to Melbourne-only lockdowns. “Many loss making sales across the city were concentrated in the Melbourne council region, which accounted for 28.6 per cent of loss-making unit sales … however, of the 33 council regions analysed across Melbourne in the quarter, 28 saw over 90 per cent of resales make a nominal gain.”YPA Bacchus Marsh sales manager Shane O’Brien said Moorabool’s property market took off following the onset of Covid-19.
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