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Australian homeowners are making a record average profit of $306,000 when selling their properties, although there are some locations where it's a trickier task than others, according to a new report.
The latest CoreLogic Pain & Gain report, which tracks losses and gains in Australia's housing market, found 94.8 per cent of sellers are enjoying a healthy profit.
It marks the highest median nominal gain since CoreLogic first began tracking re-sales in the mid-1990s.
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However, the overall percentage of sellers making a profit slightly dipped from 95.1 per cent in the previous quarter.
This reflects a slight decrease in home values at the end of 2024 following a long series of interest rate hikes.
Across Australia's capital cities, Brisbane claimed the top spot for the most profit-making property sales.
Almost every re-sale in this city – 99.1 per cent – made a profit during this quarter.
Adelaide was a close second, followed by Sydney, Melbourne, Hobart and Canberra.
Darwin and regional Northern Territory property transactions had the highest rate of loss-making sales.
Among the worst suburbs for loss-making sales was the inner Melbourne region, where 734 units sold at a loss during the quarter.
In Sydney, the most loss-making sales were in Parramatta's unit market, with 256 re-sales at a loss, followed by 163 loss-making units in the Ryde area.
These unit sales accounted for almost 20 per cent of all loss-making sales in Australia for this period.
Houses were less likely to be sold at a loss.
Just three per cent of houses were sold for a lesser price than the sale cost during the quarter.
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The total profits from property re-sales in the quarter amounted to $35.6 billion, up from $35 billion in the previous period.
The likelihood of homeowners making a loss on their property remains low, with median losses amounting to $45,000 for the quarter ending in December.
This was $5000 more than the median loss in the previous quarter.
The data is based on 95,300 properties changing hands over the three-month period in 2024.
CoreLogic Head of Research Eliza Owen said Australia's property market remains competitive and the record profits are proof prices are back on the rise.
"Given the strong relationship between capital growth and the rate of profitability and expected further easing in the cash rate this year, the rate of profitability from home re-sales will likely recover in 2025," Owen said.
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Owen said homeowners who made a loss had owned their properties for less time compared to those who made a profit.
The average owner period for profitable sales was 9.3 years, compared to 7.6 years for those who didn't earn a profit.
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