Richmond to Tweed one of the most profitable areas to sell in Australia
A new report shows which areas have had the best profit margins in the real estate market.
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The Richmond to Tweed region is one of the most profitable areas to sell in according to a new report.
The CoreLogic December Pain and Gain report reveals which regions had positive sales results in the final quarter of 2020.
According to the report profitability in Australian real estate rose, coinciding with a 2.3 per cent uplift in dwelling values nationally.
“Total gains from resales in the December quarter rose to $31.9 billion, up from $24.8 billion in the previous quarter,” the report reads.
“Combined losses from resales also shrank from $1.2 billion to $1 billion from the September to December quarter.”
The report states real estate sellers across the coastal markets saw largely positive results in the three months to December.
“While capital city dwelling values increased 0.8% in the three months to December, the combined regional housing market value increased more than three times this rate, at 2.9 per cent,” the report states.
“Five of the nine regions measured saw a rate of profit making sales about 95 per cent through the December quarter.
“These were Geelong (98.5 per cent), the Mid North Coast (96.3 per cent), the Newcastle and Lake Macquarie region (96.7 per cent), the Richmond – Tweed region (also 96.7 per cent) and the Sunshine Coast (96.3 per cent).”
The national rate of profit making resales for the December quarter was 89.9 per cent, up from 88.3 per cent in the June quarter.
Originally published as Richmond to Tweed one of the most profitable areas to sell in Australia
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