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Waterfront apartment sales gross millions in gains

Nila Sweeney
Nila SweeneyReporter

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Sales of apartments in waterfront suburbs and those in trendy areas near the central business districts were among the most lucrative, delivering up to $917,500 median profit for vendors during the June quarter, analysis by CoreLogic shows.

The apartment sector also recorded a large decline in the portion of loss-making sales, falling 127 basis points to 15.3 per cent from the previous quarter, as buyers turn increasingly to apartments amid skyrocketing house prices.

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Nila Sweeney writes on property from our Sydney newsroom. Email Nila at nila.sweeney@afr.com.au

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