Home owners who sell up are reaping financial gains worth hundreds of thousands of dollars, new research shows.
Many Australians are selling their homes for big profits, with new data released today showing resales have reached their highest rate of financial gain in 14 years.
From the 85,000 resold properties during the first quarter of this year, more than 94 per cent recorded a nominal gain, according to the latest CoreLogic Gain & Pain report.Shock surge pushes inflation up to highest level this yearThe research also revealed owners that held onto their property the longest reap the most profit over 30 years.Adelaide and Brisbane were joint first for the most profitable state capitals in resales during the quarter, with only 1.
Across Australia, house sales continued to deliver bigger profits over units. The research shows 97.1 per cent of house resales made a nominal gain in the March quarter, compared with 89 per cent of units. The median nominal gain for houses in the March quarter was $320,000, while for units the figure was $172,500.
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