Selling your home? Chances are you’ll double your money

Posted: 30 June 2016 9:40 am

Average home loan AustraliaNearly a third of home sellers are doubling the previous purchase price, a new report has found.

The CoreLogic Pain and Gain Property Report has revealed 31.9% of properties sold in the March quarter sold for more than double their previous purchase price. The report found the total value of homes resold at a profit was $12.9 billion. The average gross profit made on the homes was $239,855.

Not all vendors were so lucky, however. The report found a rise in the proportion of homes sold at a loss. During the March quarter, 9.2% of homes resold recorded a gross loss, compared to 8.3% from the final quarter of 2015 and 8.8% a year ago. Regional properties were more likely to sell at a loss than capital city properties, with 13.1% of regional properties recording a loss versus 6.9% of capital city properties.

Read our guide to selling your home

“The trends in regional areas are shifting with the proportion of loss-making resales trending lower in areas linked to tourism and lifestyle. On the other hand, housing markets linked to the resources sector are generally seeing an elevated level of loss-making resales after housing market conditions in many of these locations have posted a sharp correction,” CoreLogic research analyst Cameron Kusher said.

For vendors making a profit, a buy and hold strategy seems to be the most effective. Homes sold at a loss in capital cities had been owned an average of 5.4 years compared to 10.1 years for homes sold at a profit and 17.2 years for homes that sold for more than double their previous purchase price.

Find the right home loan now

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site