Kalamunda, Bassendean among top performing Perth suburbs for profitable house sales
PERTH’S top profit-making real estate areas so far this year have been revealed in the latest RP Data pain and gain report.
HOME owners in Kalamunda, Bassendean and Peppermint Grove can rest easy.
New figures show these three council areas were the only spots in the metropolitan area where every home sold made a profit.
RP Data’s “Pain and Gain report” for the March financial quarter found homeowners in Bassendean made a median profit of $210,000 from resale.
Kalamunda owners made a median profit of $175,000, and Peppermint Grove owners made $92,500.
Across Perth, owners collectively made $1.68 billion in profit from resales for the quarter.
Just 5 per cent of homes sold suffered a loss, making Perth the most profitable city after Sydney, where only 3 per cent of homes went for less than they were bought for.
The average median profit from a resale across all Perth suburbs was $218,571. The average median loss was $65,164.
RP Data senior research analyst Cameron Kusher said Perth conditions were “generally improving” but the results were mixed across the city.
“Only 5 per cent of homes resold over the quarter at a loss, down from 6.4 per cent a year ago,” Mr Kusher said.
Jacqueline Cera, who has just bought in Gooseberry Hill in the Kalamunda shire, was excited to hear the area had performed well.
“The Hills are where my peace is,” she said.
Mandurah, still in recovery from the global financial crisis, had the biggest gross loss ($9.18 million) with 18 per cent of homes selling for less than when last purchased.
Cottesloe (12.5 per cent) and Claremont (12.1 per cent) had the next biggest proportion of resale losses.
Nedlands sales had the most variation, with a median profit of $437,500 and a median loss of $237,500.
Across the metro area, homes resold after a year were most likely to make a loss. All homes held for 15 years or more made a profit.