The number of properties sold in the Central West for less than they were bought has increased in the past year.
Figures from property research group CoreLogic show that 4.1 per cent of all properties sold in the first three months of 2019 were sold at a loss compared to their purchase price.
That is up from 3.1 per cent for the same quarter in 2018 and 3.1 per cent for the previous quarter, the last three months of 2018.
The figures also showed unit values were being hardest hit by price falls.
While housing is generally pretty affordable in the Central West people would be looking for a house rather than a unit.Cameron Kusher, CoreLogic head of research
Cameron Kusher, national head of research for CoreLogic, said 9.1 per cent of units, compared to 3.8 per cent of houses in the Central West, sold for less than the owners paid for them.
"There is less of a supply of them [units]," he said.
"While housing is generally pretty affordable in the Central West people would be looking for a house rather than a unit," he said.
Mr Kusher said while the overall rate for the Central West had "trended a little higher," Central West properties were holding their value better than many other areas of regional NSW and well above most capital cities.
He said the rate of below-purchase price sales in the Orana (Dubbo area) region was 14.3 per cent, Hunter Valley was 7.7 per cent cent, Illawarra 6.7 per cent and New England and North West 7.9 per cent.
"It [Central West] is among the lowest. Most people are selling for more than they paid for [their property]," he said.
He said 95.9 per cent of all sales in the Central West sold for more than the owner paid for them which was well above the national rate of 87.9 per cent.
The CoreLogic Pain and Gain March quarter 2019 report said this was the lowest percentage in six years and was part of a downward trend.
It also found investors were suffering more losses than owner occupiers in regional areas.
"Across the regional areas of the country, investors were more likely to resell a property for a loss (16.0 per cent) than owner occupiers (10.5 per cent)," it found.
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