Sydney property owners making more profits on sale | CoreLogic Pain and Gain report

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A staggering number of Sydney property owners made a profit on reselling their homes in the first quarter of 2021.

CoreLogic’s Pain and Gain report for the March 2021 quarter found the portion of profit-making resales in the Sydney real estate market between January and March 2021 increased to 93.6%.
Both house and unit markets saw an increase in the rate of profit-making sales, with loss-making sales down to 3.2% in the housing segment, and 10.6% across units.

Across the council regions of Sydney, the highest portion of loss-making sales were in Strathfield (16.1%), Parramatta (15.6%), and Botany Bay (15.0%).

These same areas saw the highest rates of loss-making sales in the previous quarter, however, the rate of loss-making sales has reduced in each LGA.

The council areas with the highest incidence of profitability in the March 2021 quarter were across the Northern Beaches (98.4%) followed by Woollahra (97.4%).

Chart Sydney

Chart Sydney 2

Chart Sydney 3

You may also be interested in reading:

Australia’s property market upswing pushes rate of profit-making resales over 90 per cent in March quarter

CoreLogic Pain and Gain report: Australian national overview

CoreLogic Pain and Gain report: Houses vs Units

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About

Eliza is head Of Residential Research Australia for Corelogic and a respected property market commentator. Eliza holds a first class honours degree in economics from the University of Sydney


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