Nearly a fifth of Melbourne units are selling at a loss, according to fresh CoreLogic data.
Melbourne home prices have been falling for six months straight and a growing number of property owners are now losing money when they choose to sell.
When it comes to houses, only three per cent are currently selling at a loss.
Rewind 16 years and one in 20 people selling an apartment in Melbourne were doing so at a loss.
Ten years ago it was one in 10 and now one in five Melbourne units are being sold for less than they were bought for.
CoreLogic’s head of research Eliza Owen said supply and demand was to blame for the slide.
Council areas particularly affected by the dip included inner city areas like the City of Melbourne, where 42 per cent of units are selling at a loss, Stonnington (32 per cent) and Maribyrnong (29 per cent).
A quarter of units in Port Phillip and Yarra council areas are selling at a loss and in Boroondara, 24 per cent are losing money when they sell.
That means apartments in those areas – according to this new research – have been and may continue to be some of the riskiest property investments in the country.
