Residential vendors reaped $310,000 gross profits on average during the December quarter, 6.9 per cent higher than the previous three months and bolstered by a sustained increase in home values, which hit a record high during that period, CoreLogic’s Pain and Gain report shows.

Fewer homes were sold for a loss, as the share of profitable sales rose by 0.4 of a percentage point to 94 per cent, highlighting the housing market’s resilience despite higher interest rates and the soaring cost of living.