Nine out of ten owners of Brisbane property owners made a profit on reselling their homes in the June quarter of 2021 as the South East Queensland property markets surged.
In the June 2021 quarter, 93.9% of owner-occupied resales made a nominal gain, compared with 87.7% of investor resales .
CoreLogic’s latest Pain & Gain Report analysed approximately 106,000 resales of residential real estate nationally, where the latest sale date of the property occurred in the June 2021 quarter to see the proportion of housing re-sales that delivered nominal gains or losses for sellers.
This marks the first time profit-making resales have been above 90% since the three months to January 2018.
Higher levels of profit-making sales were driven by a 90 basis point rise in the housing segment, and a 180 basis point jump across the unit segment over the quarter.
The rate of profit-making house resales was at 98.0% in the three months to June, though unit profitability remained 25.4 percentage points lower, at 72.6%.
Thus, while profitability in the unit market of Brisbane is improving, the gap in profit-making resales is the second-highest of the capital city markets (behind Darwin).
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The highest rate of loss-making sales in Brisbane was across the Brisbane Council, where 11.9% of resales saw a loss.
The median loss across Brisbane Council was $35,000. 64.7% of these were investor-owned units. The Byte News
The highest rate of profit-making sales was in the Somerset LGA, where 96.6% of resales made a nominal gain.