Regional property owners are (slightly) more likely than capital city owners to sell for more than they originally paid, according to the latest Pain and Gain report.
Regional Australia owners achieved a higher price on 94% of sales, compared with 93.7% for capital city owners.
Nationally 93.8% of resales were for a higher price, up from 92.4% in the previous quarter for a total nominal profit of $38 billion.
The report says the national median nominal gain was $319,000 with total resale profits of $38 billion over the December 2021 Quarter. For those who sold for less, the median loss was $34,000.
CoreLogic Head of Research Eliza Owen says houses are more likely to sell for a profit than units.
“Investors had a lower incidence of profitability (91.4%) than owner-occupier sellers (96.7%),” Owen says.
She says while investors and owner-occupiers tended to hold properties for the same period of time, it was the type of properties purchased by investors which resulted in smaller profits.