Where to find property below $560k in SA
It’s still possible to find good bargains below the median price in the state, despite many buyers being scared off by...
New research has highlighted the areas with the highest resale profits over the June quarter.
According to the CoreLogic Pain and Gain report, Redland City has delivered its property owners the highest resale profits over the June quarter when compared with other Brisbane council regions.
The research found that the lowest proportion of resales at a loss were at the Redlands, followed by Lockyer Valley and Moreton Bay, while the highest proportion of resale losses occurred in Scenic Rim, Somerset and Brisbane.
“Redland City is a bustling and expanding region, appealing to a wide range of demographics, so it’s little wonder it’s performing so well,” said REIQ CEO Antonia Mercorella.
“This is evidenced by its high level of local migration, with REIQ data showing multiple Redland City suburbs appearing in the top 20 destinations for new resident arrivals in Queensland.”
The sentiment falls in line with the recent REIQ Quarterly Market Monitor, which revealed Redland City as the region with the most expensive housing outside of the Brisbane LGA, reporting a median of $520,000.
“The Redlands’ proportion of profitable resales was higher than the national average, with 90.7 per cent of sales making a profit, compared with 89.7 per cent across Australia,” said Ms Mercorella.
Of the major mining regions, Townsville’s percentage of loss-making resales was third highest at 41.9 per cent, while across coastal areas, Cairns ranked second highest, with its percentage of loss-making sales at 24.8 per cent.
Toowoomba ranked the highest of Australia’s non-coastal regions, with 14.2 per cent of sales recording a loss, Ms Mercorella noted.