4 suburbs where 100% of homes sell for a profit

4 suburbs where 100% of homes sell for a profit. Source: Getty

Homes in Hobart and regional Victoria are most likely to sell for a profit, data from CoreLogic has revealed.

CoreLogic’s Pain and Gain report for the 2020 September quarter found that Hobart retained its position as the capital city with the highest rate of profit-making resales at 96.6 per cent, while regional Victoria was the most profitable ‘rest of state’ region with a 97.5 per cent strike-rate.

Hobart has been the best performer since 2018.

Nationally, 88.1 per cent of house resales sold for more than they were bought, totalling $24.8 billion in profits, up from 87.2 per cent in the previous quarter.

In fact, each of the greater capital city markets, with the exception of Melbourne, saw an increase in the rate of profit-making sales over the September quarter.

But while Hobart may be the capital city where the majority of homes sell for a profit, there are four suburbs in Australia where 100 per cent of homes are selling for more than they were purchased.

Those are:

• Peppermint Grove, WA;

• Walkerville, SA;

• Sorella, TAS; and

• Derwent Valley, TAS.

Here are other suburbs where more than 96 per cent of homes are selling for a profit:

Suburbs in NSW where nearly all homes sell for a profit

• Blue Mountains (96.6 per cent)

• Hunters Hill (97.8 per cent)

“With a trend towards recovery in the Sydney dwelling market over the December quarter, profitability could increase across the Sydney market in the coming months,” the report stated.

Suburbs in Victoria where nearly all homes sell for a profit

• Banyule (96.8 per cent)

• Cardinia (97.5 per cent)

• Casey (97.4 per cent)

• Frankston (96.1 per cent)

• Hobsons Bay (97.2 per cent)

• Macedon Ranges (97.9 per cent)

• Mornington Peninsula (97.4 per cent)

• Wyndham (97.4 per cent)

• Yarra Ranges (96.9 per cent)

Suburbs in WA where nearly all homes sell for a profit

• Peppermint Grove (100 per cent)

Suburbs in SA where nearly all homes sell for a profit

• Adelaide hills (97.1 per cent)

• Walkerville (100 per cent)

Suburbs in TAS where nearly all homes sell for a profit

• Brighton (96.2 per cent)

• Derwent Valley (100 per cent)

• Hobart (97.5 per cent)

• Kingborough (98.6 per cent)

• Sorell (100 per cent)

No homes in Queensland or the NT had a 96 per cent or more strike-rate when it came to houses selling for a profit.

According to CoreLogic, Darwin has seen the weakest rate of profit-making sales among the capital city markets since April 2015.

The September 2020 quarter saw less than half of the resales across Darwin sell for a profit.

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