One in four units in Canberra sold at a loss, new data shows.
Corelogic's Pain and Gain Report found almost 26 per cent of units failed to resell at a higher value in the June quarter, this was compared to only 4 per cent of houses.
Around 70 per cent of loss-making unit sales in the ACT belonged to investors. Units in Belconnen were the most common to sell at a loss.
Altogether, more than one in 10 properties failed to resell at a higher value, and the ACT had the largest increase in the portion of loss making sales of the capital cities.
This is despite the fact Canberra's property market has held steady throughout the pandemic. The report says the territory's performance was hindered by units and that the nation's capital is a two-speed property market.
"The dynamic of loss making sales is a reminder that while the house segment in the ACT is in high demand, units have not performed as well as houses," the report said.
"This is largely because of very high supply in the unit segment, compounded by a lack of demand through COVID-19."
More recently, Corelogic found unit prices in Canberra had risen by 1 per cent last month.
It came as the Reserve Bank of Australia held the cash rate at 0.25 per cent on Tuesday afternoon.
"The global economy is gradually recovering after a severe contraction due to the pandemic. However, the recovery is uneven and its continuation is dependent on containment of the virus," RBA governor Philip Lowe said.
"Both fiscal and monetary support will be required for some time given the outlook for the economy and the prospect of high unemployment."
