Aussie property vendors banked $27b of profits in Q3

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CoreLogic has released its Pain & Gain report for the September quarter of 2021, which reveals that 92.4% of vendors recorded a nominal profit-making gain from the previous purchase price, up from 87.5% in the Sept 2020 quarter. This was the highest proportion of profit making sales in more than a decade:

The combined value of profit from resales in the September quarter totalled $27.3 billion, while resale losses totalled $368 million in the same period.

Typical hold periods on all resales averaged 8.8 years through the quarter, with the median difference between the initial and resale value sitting at $248,000 in the period.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.