Home sellers rake in record profits despite slowing market
Residential property profits climbed to a fresh high nationwide in the September quarter, with sellers pocketing $295,000 gross gains on average, despite slower growth in values and higher listings, CoreLogic’s Pain and Gain report shows.
More sellers also made a profit during the same period, with 95 per cent of all properties sold for more than their original purchase price, the highest level in more than 16 years.
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