Through the June 2021 quarter, the rate of profitmaking sales increased 60 basis points across Sydney, to 94.4%.
This coincided with a 2.0% uplift in dwelling values through the quarter.
Both house and unit markets saw an uplift in the rate of profit-making sales.
House resales saw a greater uplift in the rate of profitability, increasing 80 basis points in the quarter to 97.6%.
This places the rate of profitmaking resales across Sydney houses at its highest level since 1982.
Unit resales saw a 50 basis point rise in the rate of profit-making sales in the June quarter, to 90.2%, but this is lower than the peak rate of profitability, which was 97.7% in November 2015.
Across the council regions of Sydney, the highest portion of loss-making sales were in Burwood (18.3%), Parramatta (14.6%), and Strathfield (12.7%).
The council areas with the highest incidence of profitability in the June 2021 quarter were across the Northern Beaches (97.79%) followed by Camden (97.76%) and Hawkesbury Council (97.71%).
Profitability is likely to keep rising across the Sydney market into the September quarter, where dwelling values showed a further 2.2% rise in the three months to August.
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Pain and Gain Report September 2021: Melbourne
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