90% Have Sold For A Profit

Nine out of ten recent home sales have made a profit
for the vendors, according to the latest edition of the
Pain and Gain report from CoreLogic.

The report, which analyses 98,000 resales of
residential property in the December 2020 Quarter,
shows an increase in the profitability of real estate,
with 89.9% of transactions providing a nominal gain
for sellers.

Core Logic’s Head of Research Eliza Owen says: “As
values rose across each state and territory, the size
of profits also increased substantially. Total gains
from resales in the December quarter rose to $31.9
billion, up from $24.8 billion in the previous quarter.”

The rate of profit-making resales in the December
Quarter was up from 88.3% in the June 2020 Quarter.
Profitability in Australian dwelling sales is also above
pre-pandemic levels, with 87.9% of sales making a
profit in the three months to February 2020.

Across the capital city markets, Hobart had the
highest incidence of profit-making sales, at 97.2%.