31% of properties forced into sale
Close to a third of all properties coming onto the market over the last two months were from forced sales, a LandMark White sales index has revealed.
LandMark White's Forced Sales Index analysed major investment advertisements over October and November and found that 31.3% of total assets on the market belonged to a mortgagee, receiver or administrator.
More than half of the sales were located within Queensland, most notably residential property within regional locations. NSW represented the second largest proportion of forced sales nationwide with 26.1%, largely from industrial and commercial office stock.
Residential real estate saw the highest number of forced advertisements (27.5%), followed by industrial properties (25.5%). However, development sites across the various investment classes represented 57.5% of total forced sales, as low demand and funding problems saw many projects grind to a halt.
This article has been republished with permission from Your Investment Property magazine. Try our Loan Repayment Calculator and find the best repayment strategy for you.
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