Pain for vendors as more properties sell at a loss
The real estate reckoning continues as homeowners and investors reassess their assets
2 min
The number of properties selling at a loss is on the rise in Australia, new research released today reveals.
CoreLogic’s Pain and Gain report for June shows that Sydney had the highest levels of homes selling at a loss across the capital cities, reaching 10.7 percent over the March quarter. It’s the highest level since the August quarter of 2009. Melbourne, Darwin and Perth also saw increases in the numbers of properties selling at a loss.
The report noted that there has also been a rise in the share of sales of properties held for less than two years, with an increase of 8.4 percent over the March quarter, up from 6.6 percent over the same period last year.
Report author and CoreLogic head of research Eliza Owen said such behaviour was historically a little unusual.
“Such short selling times that involve sellers incurring a loss may be considered unusual, because hold periods typically increase during housing value downturns, as sellers try to avoid making a loss,” Ms Owen said.
“The implication may be that some sellers are choosing to incur a loss from resale in order to avoid particularly high mortgage repayments in the current rate-hiking environment.”
The pain has been felt more in the unit market, which has experienced a faster deterioration in profitability than the housing market over the past year. The report speculated that the performance of the unit market may be an indication that investors are struggling to service their mortgages. In this environment, it may also be an indication that sellers are willing to offload their property for less rather than face higher mortgage payments.
Ms Owen said residential resale gains remained significant in overall terms. While the largest capitals had experienced the greatest losses, there were capital cities still experiencing gains. In Hobart, 99 percent of resales made a nominal gain, while 98.1 percent of resales in Canberra recorded a profit. Brisbane also saw an increase over the quarter, with 95.7 percent of resales experiencing a gain.
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A landmark Watsons Bay residence formerly owned by businessman Mark Bouris has returned to the market, bringing one of the harbourside village’s most distinctive homes back into play.
The five-bedroom property at 23 Robertson Place occupies 654 square metres opposite Robertson Park, within footsteps of Watsons Bay Beach, the ferry wharf and the celebrated restaurants lining the foreshore.
Its position places the home at the centre of one of Sydney’s most recognisable harbour villages, yet its substantial proportions, private outdoor areas and garaging give it a degree of separation rarely found so close to the waterfront.
The residence was previously owned by Bouris, the founder of Wizard Home Loans and chairman of Yellow Brick Road. Property records show it last changed hands in November 2013 for $7 million, having sold for $890,000 in 1995.
That 2013 transaction was handled by prestige agent Bill Malouf through Highland Double Bay. Bouris was the vendor when the home last sold.
Architect Malcolm Sholl designed the contemporary residence around a fluid connection between its interiors and outdoor entertaining areas. Extensive glazing draws natural light into the principal rooms, while district views take in the Sydney Harbour Bridge.
Travertine flooring extends through the principal living areas and out towards the terraces, reinforcing the relationship between the home and its coastal setting.
At the centre of the residence is a marble kitchen equipped with Gaggenau gas appliances and an integrated Miele coffee machine. It connects to expansive open-plan living and dining areas designed for both family life and large-scale entertaining.
Five double bedrooms are accompanied by three bathrooms and a guest powder room. Informal living spaces include a home cinema.
Outside, there’s a 23-metre lap pool and an alfresco entertainer’s terrace. Internal access from the garage and accommodation for four cars are especially valuable in the tightly held village location.
The address also carries an unusual fragment of local architectural history. Woollahra planning material identifies portions of an early Victorian cottage dating from about 1839 within the contemporary three-storey residence, placing the property within the wider Watsons Bay heritage conservation area.
The home made headlines for another reason in January 2025, when a Ferrari left the road and struck the property. Two occupants of the vehicle were taken to hospital following the incident.
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Watsons Bay remains one of Sydney’s smallest and most tightly held prestige markets. There have only been two house sales in the suburb so far in 2026. The suburb record was set late last year when yachtie Linda Goddard paid $35.5 million for a Pacific Street waterfront.
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