To be exact, a whopping 99.5 per cent of Brisbane house sellers have sold for a profit, according to the Domain Profit & Loss Report. That translates to a median profit of $395,000.
Unit sellers are also enjoying some good results, with 95.6 per cent making a profit. That’s a median profit of $155,000.
These are well above the national averages of 96 per cent for houses and 90.7 per cent for units.
“More homeowners in over a decade are walking away with a profit,” says Domain chief of research and economics Dr Nicola Powell.
“It tends to closely follow the property price cycle, with the likelihood of profitability increasing as prices rise.
“While Boomers have certainly reaped significant rewards from decades of rising home prices, it is their children who are walking away with the most profit in today’s market.”
That means Gen X and older Millennials in the late 30s and 40s are pocketing the profits.
That’s not quite what you’d call an intergenerational wealth transfer but it’s no doubt a welcome turn of events for property owners who have faced tougher affordability challenges than their parents did.
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