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

Out of roughly 76,000 houses and units sold in the January-March quarter, one in six sold at a loss. Photograph: Jessica Hromas/The Guardian

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.