Property sale profits are on the increase according to CoreLogic’s latest Pain and Gain Report.

In the June quarter of 2024, the median nominal gain from resales increased to $285,000 according to the report – a record high since the report commenced. The report analysed 91,000 resales in the June quarter, of which 94.5% made a profit – up from 94.4% in the March quarter. Total nominal gains from resales hit $31.8 billion in the June quarter, up 7.7% from the March quarter.

Brisbane was the most profitable market with 99.1% of properties selling for more than the owner originally paid for the property. It is followed by Adelaide, 98.7%, Perth, 95.4%, Melbourne, 96.9%, Hobart, 94.7%, ACT, 94.4%, Sydney, 92% and Darwin, 67.9%.

The report says houses remain the far more profitable property type, with only 2.8% of house sales during the quarter for a loss, while it is 10.6% in the unit market. The regions (95.7% of profit-making sales) outperformed the capital cities markets (93.8%).