PHOTO: This home on Heber St, Hurstville sold in August for $74,000 less than the price the owners paid in 2014.
SHATTERED families have been selling their homes for up to $134,000 less than they paid for them in the Sydney regions worst affected by the ongoing housing downturn.
The losses were mostly from those selling upper market houses purchased within the last one-two years and in areas heavily supplied with new housing.
These homeowners struggled to find buyers who could afford to pay the excessive prices they once paid as banks put a stranglehold on lending.
They also faced stiff competition from other sellers in their area due to the high supply of housing, forcing them to offer big discounts to get buyers interested.
READ MORE VIA REALESTATE.COM.AU