More than 98 per cent of property vendors who sold last month still made a profit despite the housing market correction, amid low listings and increased demand, data from Suburbtrends show.
A large chunk of the sales delivered strong results, with around one out of eight properties selling for more than three times the original purchase price nationwide. Meanwhile, about 20 per cent of the sales analysed sold for twice the amount the vendor originally paid for the property.narvikk
This house at 51 MacDonald Street, Sans Souci, was sold for 114 per cent or $1,481,000 above the purchase price. “I actually haven’t come across a property that sold for less than what the vendor paid for in a very long time. Unfortunately, for some buyers, they’ve sort of missed the market. It is worth noting that these properties have been extensively redeveloped, which means profits will be smaller once costs are factored in.
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