New report reveals top property locations for profit in Australia

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PHOTO: View of the Mosman Bay Marina near Sydney. Image source: EQRoy (Shutterstock)

People selling property in Hobart could be the most likely to make a profit, new research shows. Find out which council region in your city delivered the most reliable gains in 2019.

Property profit areas revealed Sept quarter 2019_hero — Hobart experienced the highest proportion of properties that sold at a profit during the September quarter of 2019. Image source: Ekaterina Kamenetsky (Shutterstock).

One way to spot a strong local housing market is to check how many properties are reselling at a profit, according to research house CoreLogic.

They just released the Pain and Gain report for the September quarter of 2019, revealing the top property hotspots around Australia for profit-making sales.

The findings showed almost nine in ten (87.4%) property resales nationwide over the September quarter sold for more than their previous sale price. While that’s up from the previous quarter, it is well below the peaks of 2017, when 92% of resales returned a gross profit and property prices were higher, CoreLogic said.