SINCE 1997

Latest Australia's Most Profitable Suburbs News

Profit-making properties keeping pace with price gains

Profitable property sales continue to rise nearly as rapidly as house prices, with research showing more than 90 per cent of properties sold for more than they did previously in the first three months of the year.

Yellow sold sign in front of a house
Rising house prices have given profitability a big boost in 2021. Photo: Shutterstock

Profitable property sales continue to rise nearly as rapidly as house prices, with research showing more than 90 per cent of properties sold for more than they did previously in the first three months of the year.

CoreLogic said its analysis of around 98,000 resales in the March quarter revealed 90.3 per cent of properties sold were done so at a profit, up from 86 per cent in the three months to the end of June last year.

Over the three months …