CoreLogic: Brisbane property selling for big profits

first_imgKyle Hughes is selling the house he has renovated atEast Brisbane. Picture: Mark Cranitch.BRISBANE’S property market has chalked up more profitable sales than any other region in Queensland with the latest figures revealing nine in ten sales were for more than owners originally paid.According to CoreLogic’s latest Pain and Gain report, 92.8 per cent of property sales in Brisbane were for a profit in the December quarter and the median gross profit was $175,000.This was up from 92.4 per cent of sales in the previous quarter.Of the 7.2 per cent of sellers who sold for less than they originally paid the median loss was $26,000. CLICK here to get the latest real estate news direct to your inbox CoreLogic analyst Cameron Kusher said there was a pretty low proportion of houses reselling at a loss in Brisbane, 4.1 per cent, but for units there was quite a high proportion of 21 per cent. “That is an interesting trend that is kind of emerging, a lot of unit development is going on so we are starting to see the underperformance there,’’ he said. The Redland LGA where this home at13 Artic St, Thornlands is listed for sale had a high percentage of profit making sales. Picture: realestate.com.au“But houses are still pretty sought after, particularly in the Brisbane and the Redlands Council areas, that’s where you are seeing the lowest proportion of resales at a loss overall.’Kyle Hughes and Margarita Escartin hope the results are good news for the upcoming sale of their East Brisbane home.The couple bought the home at 69 Gresham St, about ten years ago and have now listed it for sale through Henry Hodge of McGrath Estate Agents.The post war home has five bedrooms and is on a 706sq m block about 2km from the Brisbane CBD.Mr Hughes said the location was what had initially appealed to them because it was close to where their sons’ school.Over the years they have renovated it and completed the work about six months ago before deciding it was time for a change and to buy in northern New South Wales.“When we bought all of the structural work had been done,’’ Ms Escartin saidMr Hughes said they thought it was a good time to be offering the home for sale now and it was good that so many Brisbane homes were achieving profitable results.“We have seen some high sales in the area around here,’’ he said. Toowoomba LGA had the highest level of profit making sales in Queensland. This home at88 Taylor St, Newtown in Toowoomba is listed for sale. Picture: realestate.com.auMore from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours ago THESE markets are swell locations Mr Kusher said other council areas were improving as well.Across the broader southeast Queensland region, Toowoomba had the lowest level of properties selling for a loss, 6.5 per cent, followed by Redland 7 per cent, The highest levels of loss were recorded in the Lockyer Valley, 19.5 per cent, Scenic Rim 15.5 per cent and Somerset 14.3 per cent.Some of Queensland’s regional markets fared substantially worse. Mackay continued to hold the honour of the highest proportion of loss making sales with more than half, 58.4 per cent, of properties, selling for less than owners originally paid.Fitzroy in Queensland had a 44.3 per cent level of loss making sales and Townsville 42.6 per cent.“I think it is going to take quite a while to turn them around significantly,’’ Mr Kusher said“If you look at Mackay for example, it did actually pull back a little bit, the percentage of loss making sales over the quarter. Same in Townsville, same in Fitzroy but they are still very elevated and it is going to take those markets a long time to improve because anyone that has bought over the last four or five years at least is going to see the value of their property significantly lower than what they purchased it for and that is ultimately the challenge.’’ LGA % OF LOSS MAKING SALES AND MEDIAN PROFIT Brisbane 92.8% – $175,000Gold Coast 89.9% – $117,000 Ipswich 88.2% – $70,500Lockyer Valley 80.5%- $64,500Logan 92.4% – $93,000Moreton Bay 92.2% – $80,000 Redland 93% – $100,000Scenic Rim 84.5% – $73,250 Somerset 85.7% – $54,750Sunshine Coast 90.7% – $102,000 Toowoomba 93.5% – $74,000last_img read more

Ronaldo Hints at Possible Retirement Next Year

first_imgCristiano Ronaldo has suggested he could pull the curtain on his prodigious career at the end of this season.The 34-year-old penned a lucrative four-year deal with Juventus last summer and went on to help them to the Serie A title in his first season at the club.However, Ronaldo has refused to rule out hanging up his boots in 2020 despite admitting he is in the shape to continue performing at the highest level for plenty more years to come. He told Portugal TV station TV1: ‘I don’t think about that (retirement).‘Maybe I can leave my career next year… but I can also play up to 40 or 41.‘I don’t know. What I always say is to enjoy the moment. The gift is excellent and I have to continue to enjoy it.’Ronaldo finished as Juve’s top scorer last season with 21 goals in the league as they ran clear of Napoli to claim their eighth successive title.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Cristiano Ronaldolast_img