That’s not a bad pay day.
All up 94 per cent of Brisbane sellers made a profit and the median time sellers held a profit-making property was 8.6 years, according to the latest CoreLogic Pain and Gain Report.
Loss-making sales represented 6 per cent of the Brisbane market and the median loss was $34,500. The median hold period for a loss was 8.9 years.
The report showed that overall, selling conditions across Brisbane are strong.
The proportion of profit-making sales across the greater Brisbane area, including local government areas across the south east, was sitting well above its decade average.
This shouldn’t come as a surprise, says CoreLogic.
“Through to the end of August, the Brisbane dwelling market has actually seen the highest level of value growth of the greater capital city markets, at 2.9 per cent,” the report states.
“This is likely to support a strong jump in the rate of profitability from resales, as well as an increase in median profits.”
Nationally, the report showed that profitability had improved across the Australian housing market, but rising interest rates had seen some increase in loss-making sales for properties held for less than two years.
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