RESIDENTIAL PROPERTY
PROPERTY resales recorded a median profit of $285,000 in the June quarter, hitting a high not seen since the early 90s, however a majority of Sydney and Melbourne apartments were...
According to CoreLogic’s Pain & Gain report for Q2 2024, across the 91,000 analysed resales 94.5% of transactions recorded a nominal gain. Over the quarter, nominal gains from...
It also reflects sellers largely being empowered to time their resale for profit, given relatively stable conditions for mortgage serviceability,” said Eliza Owen, head of research at...
The rate of profit-making sales in the regions, at 95.7%, remained higher than the capital city rate, at 93.8%, in the June quarter...
Brisbane was the most profitable resale market over the June quarter, with a profit-making sales rate of 99.1%, followed by Adelaide at 98.7%, Perth at 95.4%...
With Sydney’s profit-making resale rate up to 92.0% for the quarter and Melbourne’s fell by 30 basis points to 90.5%...
However, the housing market faces some headwinds to demand in the form of high interest rates that are ‘higher-for-longer’, high cost of living and constrained affordability...
At the same time, the median of losses from resale rate across the country was at -$40,000, with a median proportional loss of -6.8%, totalling $282 million, up 2.5% from...
The majority of loss-making resales were unit sales, at 66.3%, with 70.6% of these in Melbourne and Sydney. With Sydney and Melbourne making up almost half of all loss-making sales in...
Houses were broadly more profitable than units throughout the period, at a profit-making sales rate of 97.2%, on units’ 89.4%...
Not only were units around four times more likely to make a loss from resale than houses, but the median nominal gain from house resales was almost twice as large as that of units...
At a high level the outlook for unit owners looks promising, with unit profitability expected to improve in the short term. Demand for units may increase in the coming months, as buyer...
The median hold period was stable across the quarter, at 8.8 years, which puts the median initial purchase dare around the September quarter of 2015...
Over this 8.8-year period, national home values have ballooned by 56.0%, with only Darwin recording a decline over this period, at 1.6%...