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Quick Profit On Rise

Quick Profit On Rise

The number of homes being resold within two years of purchase has soared in parts of regional Queensland, Brisbane and Perth.

Analysis by CoreLogic shows that buyers may be taking advantage of recent capital gain windfalls.

Regional Queensland had the highest proportion of short-term resales, with about 13% of properties sold within two years of purchase.

In regional South Australia, Western Australia and Tasmania, more than 10% of sales were within two years of purchase.

CoreLogic head of research, Eliza Owen says the biggest contributor to the increase in short-term resales is owners who are seeking to take advantage of substantial price rises, especially in relatively cheap markets.

“This could infer that owners are cashing in on value gains to buy somewhere more expensive or desirable,” she says.

Of the top 50 suburbs with the biggest increase in two-year resales, half were in regional Queensland. Of those seven were in Wide Bay, and five in Mackay Isaac Whitsunday.

In the Adelaide suburb of Evanston, more than 30% of properties sold had only been owned for two years, during the same period home values rose by nearly 30%.

In Perth suburbs, Bedfordale, Hilbert and Singleton two-year resales increased to 25%.

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