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

CoreLogic’s Pain and Gain report for the March 2021 quarter found the portion of profit making resales between January and March 2021 increased to 90.3% nationally, up from 89.1% in the previous quarter and the COVID-induced low of 86.0% in the three months to June 2020.  

CoreLogic analysed approximately 98,000 resales across Australia from the March 2021 quarter. Variations in the scale of pain or gain are reflected across the different housing markets in the country, with regional Australia continuing its downward trajectory of loss-making resales for the fifth consecutive quarter, units were more than twice as likely to sell at a loss as houses, and owner occupiers enjoyed a higher incidence of profitability than investors.

Eliza Owen, Head of Research Australia at CoreLogic, says increases in the rate of profit for real estate sellers have come off the back of remarkable growth in Australian dwelling values.