Brisbane’s rate of profit-making resales hit 98.4 per cent, according to the latest CoreLogic Pain and Gain Report.
This is a further increase from the December quarter and well above the decade average of 90.9 per cent.
The median period of time a property was held to hit this profit jackpot was 8.7 years.
Units earned a special shout out in the report for continued stellar growth
“The median gain in unit resales was $171,000 in the quarter, up from $58,000 in the March quarter of 2020,” it reports.
“Four years on from the pandemic in March 2020, the Brisbane unit market has seen a remarkable turnaround in the rate of profitability, rising 37.3 percentage points.”
Further profits are forecast for the next quarter.
“Through to the end of May, the Brisbane dwelling market has actually seen a further acceleration in the rate of growth in dwelling values.
“Brisbane dwelling values rose 3.9 per cent in the period, up from 3.4 per cent in the March quarter. This is likely to support a further increase in the rate of profitability from resales, particularly in the unit market which rose 5.3 per cent in the period.”
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