A staggering number of Sydney property owners made a profit on reselling their homes in the first quarter of 2021.
CoreLogic’s Pain and Gain report for the March 2021 quarter found the portion of profit-making resales in the Sydney real estate market between January and March 2021 increased to 93.6%.
Both house and unit markets saw an increase in the rate of profit-making sales, with loss-making sales down to 3.2% in the housing segment, and 10.6% across units.
Across the council regions of Sydney, the highest portion of loss-making sales were in Strathfield (16.1%), Parramatta (15.6%), and Botany Bay (15.0%).
These same areas saw the highest rates of loss-making sales in the previous quarter, however, the rate of loss-making sales has reduced in each LGA.
The council areas with the highest incidence of profitability in the March 2021 quarter were across the Northern Beaches (98.4%) followed by Woollahra (97.4%).
You may also be interested in reading:
CoreLogic Pain and Gain report: Australian national overview
CoreLogic Pain and Gain report: Houses vs Units
from Property UpdateProperty Update https://propertyupdate.com.au/corelogic-pain-and-gain-report-sydney/
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