Properties selling below purchase price?

Has anyone come across any of these lately? Seem hard to find, is there a way to search without having to go through each individual property?

 

Do you mean the "recent sale price being lower than what the property has previously sold for" ?
Because the purchase price is the sale price

 

Yeah sorry I mean they are selling for less than they paid.

 

Yes.

 

I'm happy to buy one of yours for less than was paid

 

Find the one's you like, carry out a search and put in an offer.

They may not be less than what the previous owner paid - look for something that they have spent $$ refurbishing but the cost of the refurb/extensions, stampduty & previous purchase price may well be less than cost.

 

What happens if you find one? What does it tell you?

 

Its very much relative to when the property was last traded. If the market has fallen by 10% and it was last sold during the peak - then by all accounts it should be now below that price.

If it was last traded quite some time ago, then maybe you have to ask whether it was overpriced at the time or otherwise why the growth in that property was weaker over time, so that it has now fallen below that price.

 

Search for "Mackay" on realestate.com

You'll find a couple..

 

In Sydney the houses I am seeing are at least 10% under what seller paid for in 2016/2017, in many cases more than $200k loss not including buy/sell/holding costs in a matter of 3 years.

In Brissy the houses I am seeing are often significantly below what the seller paid for them around 10 years ago

Easy to see with access to RPData or Pricefinder

 

Wow, less than 10 years ago @Simon L Is that mainly Logan area?

 

All 3 areas - Moreton Bay, Logan and BCC. Bearing in mind 10 years ago SEQ was at its last peak.