Despite a moderation in property price growth across recent months, the overwhelming majority of property owners who decide to sell are still walking away with substantial gains.
While market conditions are no longer producing the rapid price increases experienced during previous growth cycles, recent sales data demonstrates that residential real estate continues to deliver strong financial outcomes for most vendors. The latest figures indicate that profitable resales remain the norm across the country, reinforcing the resilience of the housing market even as conditions become more balanced.
According to the latest Pain and Gain report released by Cotality, 96% of residential property sales completed during the first quarter of 2026 generated a nominal profit for the seller. This represents a slight improvement on the previous quarter, when 95.9% of resales delivered a positive financial outcome. It also marks the strongest national result recorded since March 2025, highlighting the ongoing strength of Australia’s residential property sector despite softer market momentum.
Not only are sellers continuing to record profits, but the size of those gains has also increased. The median profit achieved during the March quarter reached $377,000, representing an increase of $12,000 compared with the previous three-month period. This suggests that while annual price growth may be slowing in some locations, many property owners continue to benefit from years of accumulated capital growth before deciding to sell.
Of course, not every transaction results in a financial windfall. Approximately 4% of all property sales during the quarter were completed at a loss. Even within this relatively small group, the median loss amounted to $45,000. Although selling below the original purchase price remains an unfortunate reality for some owners, these figures illustrate that loss-making transactions continue to represent only a very small proportion of the overall housing market.
Performance varies considerably between individual capital cities, reflecting differences in local market conditions, affordability, population growth and housing demand. Once again, Brisbane has secured its position as the nation’s most profitable capital city for residential resales. An extraordinary 99.8% of dwelling sales recorded during the quarter delivered a profit to the vendor, meaning virtually every seller achieved a higher sale price than they originally paid for the property.
Adelaide also continues to demonstrate exceptional market resilience. During the first quarter of 2026, 99.3% of residential resales generated a profit, placing the South Australian capital second nationally. Perth followed closely behind, with 98.8% of sellers recording positive financial outcomes. These figures reflect the sustained strength seen across several of Australia’s more affordable capital cities, where strong population growth, limited housing supply and comparatively attractive entry prices have continued to support property values.
Hobart also maintained impressive profitability levels, with 97.0% of resales producing gains for vendors. Although the Tasmanian capital has experienced periods of slower price growth compared with previous years, the vast majority of homeowners who sold during the quarter still achieved favourable financial outcomes. The Australian Capital Territory similarly performed well, with 94.2% of transactions returning a profit.
The larger east coast capitals presented a more mixed picture. Sydney remained a profitable market overall, with 93.7% of property sales generating gains for sellers. While this figure sits below several other capitals, it still reflects a remarkably high success rate considering Sydney’s size, maturity and previous periods of price volatility. Melbourne recorded a lower profitability rate, with 90.5% of resales delivering positive returns. Although still representing nine out of every ten transactions, Melbourne continues to face more subdued market conditions than many other capital cities.
Darwin remains the least profitable capital city in the country based on the latest resale data. During the March quarter, only 87.8% of residential property sales achieved a higher price than owners originally paid. While this still represents a significant majority of transactions finishing in positive territory, it also highlights the Northern Territory’s more challenging market conditions when compared with other capital cities across the nation.
These differences between cities reinforce the importance of recognising that Australia’s property market is not one single market but rather a collection of individual local markets, each influenced by its own economic drivers, employment opportunities, housing supply and demographic trends. Investors and homeowners alike should therefore avoid making broad assumptions based solely on national averages.
Although housing markets may now be transitioning into a period of slower growth, the latest resale figures provide reassurance that property ownership continues to reward the overwhelming majority of Australians over the longer term. Strong capital gains accumulated across recent years mean many homeowners remain in an excellent financial position when they choose to sell, even if current market conditions are less heated than during previous peaks.
For prospective buyers, these figures also serve as a reminder that real estate has historically rewarded long-term ownership rather than short-term speculation. While future market performance will inevitably vary between regions, the latest resale data demonstrates that patience continues to be one of the greatest advantages available to property owners. As markets continue to evolve throughout 2026, profitability remains firmly on the side of sellers who have held their properties through multiple market cycles.
