State’s savvy sell­ers are build­ing wealth

The Sunday Mail (Queensland) - - NEWS - SOPHIE FOSTER

HOPE­FUL VEN­DORS: Ta­nia and Ru­binder­bider Singh at their house in Sun­ny­banSun­ny­bank Hills, which is up for auc­tion to­day. Pic­ture: Steve Pohlner/AAP SELL­ERS in Bris­bane and the Gold and Sun­shine coasts have pock­eted hun­dreds of thou­sands in profit in the first half of this year and ex­perts pre­dict much more to come across the south­east.

A surge saw Bris­bane sell­ers net be­tween $172,000 and $175,000 in me­dian gross profit in the six months to June, ac­cord­ing to CoreLogic anal­y­sis for The Sun­day Mail.

Home­own­ers have raked it in across the re­gion, with Greater Bris­bane – made up of the coun­cil ar­eas of Bris­bane, Lo­gan, Red­land, More­ton and Ip­swich – draw­ing the bulk of the win­nings.

Greater Bris­bane home­own­ers made $1.821 bil­lion in gross profit in the June quar­ter and $2.036 bil­lion in the March quar­ter.

Lo­gan home­own­ers saw me­dian profit of $93,250 to $97,250 over the two quar­ters; Ip­swich was at $65,000 to $68,000; Red­land $109,350 to $115,000 and More­ton $90,000 to $90,250.

The coastal zones were strong, with Gold Coast sell­ers land­ing me­dian profit be­tween $125,000 and $127,500, while on the Sun­shine Coast they were look­ing at be­tween $131,000 and $142,750.

Re­turns were also good on the south­east fringes, with Lock­yer Val­ley draw­ing $94,500 to $120,000, Som­er­set $55,000 to $78,000 and Toowoomba $71,000 to $73,625.

The strong­est re­sult was Scenic Rim, where the high­est me­dian profit of all the coun­cil re­gions emerged be­tween $212,500 and $239,000.

CoreLogic re­search head Tim Law­less said prof­its grew the longer homes were held.

“The Scenic Rim showed a very long av­er­age hold pe­riod, with the typ­i­cal ven­dor hav­ing owned their home for 15½ years be­fore sell­ing. Such a long av­er­age hold pe­riod has pushed the typ­i­cal gross profit higher,” he said.

Bris­bane home­own­ers Ta­nia and Ru­binder Singh are among those hop­ing for a solid profit, with their house at 82 The Av­enue, Sun­ny­bank Hills, set to be auc­tioned off at 11.30am to­day.

“There’s been big in­ter­est in the prop­erty,” Mr Singh said of the house, which they bought four years ago.

“We did a lot. It was a sixbed­room house be­fore, then we ex­tended it and now it’s five bed­room.”

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