Property resale values continue to rise despite lockdowns

Australia’s property market has continued to soar throughout periods of lockdown, with the latest CoreLogic report finding that the three months to September 2021 saw the highest level of profitability in real estate for more than a decade.
The Pain & Gain report, which covers the September 2021 quarter, found that the rate of profit-making resales across Australia rose to 92.4%, up 50 basis points from the June quarter.
“The three months to September was the fifth consecutive quarter in which the rate of profit-making sales across Australia increased,” said Corelogic head of research, Eliza Owen.
Profit-making resales, when a property is solid for a profit on the price it was originally purchased for, have continued to rise as Australia’s real estate market grows stronger.
Resales had a typical hold period of 8.8 years, although properties held for more than 30 years had the highest median gain of over $745,000. Properties held for under two years had the highest nominal gains per year, with the median resale gains sitting at $120,000.
House resales continued to have a higher chance of nominal gain than units, although the report noted that the gap is narrowing. Regional Australia also saw a slightly higher rate of profit from resales than the capitals, however both saw an increase in profitability throughout the quarter.
The report noted a decrease in resale transactions during the period, with around 99,000 transactions analysed compared to 106,000 the previous quarter. Owen attributed this to social distancing measures, particularly the inability to physically inspect property across Melbourne.
Corelogic found that the national median nominal gain was $270,000, with total resale profits at $27.3 billion. Meanwhile median losses sat at $37,000, with total resale losses at $368 million.
Looking to make an entrance into the housing market? Check out some top fixed home loans below.
Top Fixed Home Loans - last updated 9 December 2023
-
Home Fixed Rate
Owner Occupier, Principal & Interest, Refinance Only
interest rate
comparison rate
Initial monthly repayment6.40% p.a.
fixed 4 years6.24% p.a.Enjoy the security of a competitive fixed interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply). Mozo Experts Choice award winner.
CompareCompareHome Fixed Rate
Enjoy the security of a competitive fixed interest rate from Up. No application, monthly, annual, redraw, or discharge fees to pay. Up to 50 free offset accounts available. Up home loans are only available to owner-occupiers buying or refinancing in major Australian cities. Up is 100% owned by Bendigo Bank. New joiners get $10 by signing up to the app using code UPHOMEMOZO. (T&Cs apply). Mozo Experts Choice award winner.
- interest rate
- 6.40% p.a.
fixed 3 years
- comparison rate
- 6.22% p.a.
- interest rate
- 6.40% p.a.
fixed 3 years
- comparison rate
- 6.22% p.a.
- upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - up to $30,000
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 90.00%
- minimum borrowing amount
- $50,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Up Home Fixed Rate
-
Basic Home Loan
Fixed, Investment, Principal & Interest, LVR 70-80%
interest rate
comparison rate
Initial monthly repayment6.79% p.a.
fixed 3 years6.64% p.a.Lock in repayments from 1 to 5 years. Competitive rate tiers depending on your LVR. No application or annual fee. Fast, secure online application.
CompareCompareBasic Home Loan
Lock in repayments from 1 to 5 years. Competitive rate tiers depending on your LVR. No application or annual fee. Fast, secure online application.
- interest rate
- 6.79% p.a.
fixed 3 years
- comparison rate
- 6.64% p.a.
- interest rate
- 6.79% p.a.
fixed 3 years
- comparison rate
- 6.64% p.a.
- upfront fees
- $350
- Ongoing fees
- $0.00
- Discharge Fee
- $400.00
- Extra repayments
- yes - up to $10,000 p.a.
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- minimum borrowing amount
- $150,000
- maximum borrowing amount
- $10,000,000
- type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Investor
- Repayment options
- Monthly
- Special Offers
- -
Read our Mozo Review to learn more about the Macquarie Basic Home Loan
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
^See information about the Mozo Experts Choice Home Loan Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.