Wealth In Housing

After years of solid price growth across Australia’s property markets, new data shows just how big resale profits continue to be.

Analysis by PropTrack shows the ten locations that achieved the highest nominal resale profit in the past 12 months.

Analyst Eleanor Creagh says that resales analysis shows that the vast majority of homeowners continue to sell at a profit and that loss-making sales are very rare across most markets.

“In some of the strongest performing regions, particularly across Queensland, more than 99% of resales are profitable with median profits of more than $600,000 in some regions, reflecting the depth of price growth over recent years,” she says.

The Gold Coast topped the list with a total profit of $5.3 billion in the past 12 months, followed by Sydney – North Sydney and Hornsby at $4.05 billion and the Sunshine Coast at $3.38 billion.

The only Western Australia entry in the top ten is Perth – North West, which came in seventh position with a total profit of $2.55 billion and the only Victorian entry was Melbourne – South East, which came in eighth position with a total profit of $2.52 billion.