Profits for property sellers are sky high - but it doesn't guarantee a cash windfall
Profits for property sellers are sky high - but it doesn't guarantee a cash windfall
25 August 2021
CoreLogic shows 99 percent of properties resold in the three months to June, did so for a profit. .
The median resale gain was at a record high of 347-thousand dollars -- while the median resale loss sunk to 20-thousand.
But its chief property economist says owner-occupiers often buy in the same market and the price of all homes is going up.
Kelvin Davidson says those hundreds of thousands of dollars in profit are most often put straight back into the next purchase.
He says sometimes trading up also means a bigger mortgage to go alongside the equity... but investors have done pretty well.
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