Perth Leads Australian Housing Market Profit Surge in 2024

New CoreLogic report reveals record profitability in Perth and nationwide, driven by rising home values and strong demand.

Australians made a record median profit of $295,000 on property resales in the September 2024 quarter, the highest since the mid-1990s.
Perth saw a significant rise in profitability, with 97% of property sales turning a profit, up from 56% five years ago.
Nationally, only 5% of property resales incurred a loss, the lowest rate since March 2008, with houses outperforming units in profitability.
Melbourne had the highest rate of loss-making sales among capital cities, with 9.9% of sales recording losses, particularly in high-density areas.
Unit values in Perth rose by 5.1% in the quarter, outpacing house value growth and reducing the rate of loss-making unit sales by nearly half.