Sydney property owners reap huge profits: Corelogic Pain & Gain Report September 2021

Sydney property owners reap huge profits: Corelogic Pain & Gain Report September 2021

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A staggering number of Sydney property owners made a profit on reselling their homes in the June quarter of 2021 as the Sydney property markets surged.

CoreLogic’s latest Pain & Gain Report analysed approximately 106,000 resales of residential real estate nationally, where the latest sale date of the property occurred in the June 2021 quarter to see the proportion of housing re-sales that delivered nominal gains or losses for sellers.

Through the June 2021 quarter, the rate of profit-making sales increased across Sydney to 94.4%.

This coincided with a 2.0% uplift in dwelling values through the quarter.

Both house and unit markets saw an uplift in the rate of profit-making sales.

House resales saw a greater uplift in the rate of profitability, increasing 80 basis points in the quarter to 97.6%.

This places the rate of profit-making resales across Sydney houses at its highest level since 1982.

Unit resales saw a 50 basis point rise in the rate of profit-making sales in the June quarter, to 90.2%, but this is lower than the peak rate of profitability, which was 97.7% in November 2015.

Across the council regions of Sydney, the highest portion of loss-making sales were in Burwood (18.3%), Parramatta (14.6%), and Strathfield (12.7%).

The council areas with the highest incidence of profitability in the June 2021 quarter were across the Northern Beaches (97.79%) followed by Camden (97.76%) and Hawkesbury Council (97.71%).

Profitability is likely to keep rising across the Sydney market into the September quarter, where dwelling values showed a further 2.2% rise in the three months to August.

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You might be interested:

Pain and Gain Report September 2021: National review
Pain and Gain Report September 2021: Houses vs. Units
Pain and Gain Report September 2021: Melbourne
Pain and Gain Report September 2021: Brisbane