CoreLogic RP Data has just released its “Pain/Gain” Report for the December 2014 quarter. The data shows that the vast majority of property resales across Australia (91.4%) recorded a gross profit over the quarter, with 32.3% selling for more than double their original purchase price. The average gross profit across these resales was $251,696. The results for Brisbane itself show that only 93.8% of sales were profitable, and the median profit on sales was $163,500.
Brisbane is showing that 10.5% of properties sell at a loss, while 27.7% of homes sell for at least double what the seller paid. This proportion is the lowest of any capital city, suggesting that Brisbane (in the Dec 14 quarter) still had some catching up to do in terms of people selling homes they have lived in for a long time. Perhaps Brisbanites like living where they are, and are less likely to move than in other capitals.
The highest proportion of Brisbane sales resulting in a loss was between 3 and 7 years. This suggests that if you have a house for 7 years or more in Brisbane, you should be able to achieve a profit when you sell (all things being equal).