Where the Biggest Profits Are
Property sale profits are on the increase according to CoreLogic’s latest Pain and Gain Report.
In the June quarter of 2024, the median nominal gain from resales increased to $285,000 according to the report - a record high since the report commenced.
The report analysed 91,000 resales in the June quarter, of which 94.5% made a profit – up from 94.4% in the March quarter.
Total nominal gains from resales hit $31.8 billion in the June quarter, up 7.7% from the March quarter.
Brisbane was the most profitable market with 99.1% of properties selling for more than the owner originally paid for the property.
It is followed by Adelaide, 98.7%, Perth, 95.4%, Melbourne, 96.9%, Hobart, 94.7%, ACT, 94.4%, Sydney, 92% and Darwin, 67.9%.
The report says houses remain the far more profitable property type, with only 2.8% of house sales during the quarter for a loss, while it is 10.6% in the unit market.
The regions (95.7% of profit-making sales) outperformed the capital cities markets (93.8%).
Property sale profits are on the increase according to CoreLogic’s latest Pain and Gain Report.
In the June quarter of 2024, the median nominal gain from resales increased to $285,000 according to the report - a record high since the report commenced.
The report analysed 91,000 resales in the June quarter, of which 94.5% made a profit – up from 94.4% in the March quarter.
Total nominal gains from resales hit $31.8 billion in the June quarter, up 7.7% from the March quarter.
Brisbane was the most profitable market with 99.1% of properties selling for more than the owner originally paid for the property.
It is followed by Adelaide, 98.7%, Perth, 95.4%, Melbourne, 96.9%, Hobart, 94.7%, ACT, 94.4%, Sydney, 92% and Darwin, 67.9%.
The report says houses remain the far more profitable property type, with only 2.8% of house sales during the quarter for a loss, while it is 10.6% in the unit market.
The regions (95.7% of profit-making sales) outperformed the capital cities markets (93.8%).