9 out of 10 house sale make a profit

According to Core Logics latest report 9 out of 10 house sales across the Australia make a profit.

Over the three months to December 2017, 91.1% of all properties that resold transacted at, or above, their previous purchase price.

Despite a slowing property market, the vast majority of home sales (nine out of 10) in Australia are still turning a profit for their vendors, according to CoreLogic’s latest quarterly Pain & Gain Report.

Across the nation, 91.1% of all properties that resold in the December quarter went for a price above their previous purchase price. Profits earned from property resales over this period totalled $17.832 billion.

The figure for December was not a one off. These numbers have been consistent for quite some time. The 91.1% figure was up slightly from 90.9% at the end of the third quarter of 2017 but slightly lower than the 91.3% over the final quarter of 2016.

Interesting fact to note was units were almost 10 times more likely to resell at a loss than houses.

β€œOver recent years, value growth for units has substantially underperformed that of houses, as a result in most regions of the country a higher proportion of houses resold for a profit than units,” Mr Kusher said.