PHOTO: TV presenter and renovator Cherie Barber has helped hundreds of Queenslanders add equity through renovations. Picture: Luke Marsden. Source: News Corp Australia.
PROPERTY flipping is on the rise with profit hotspots emerging across three parts of South East Queensland.
A massive 90 per cent of properties flipped last year — that is, bought and re-sold within one to two years of purchase — went for a profit across Brisbane, with the figure sitting at 88.3 per cent in regional Queensland.
The latest CoreLogic data found three hotspots had emerged in the state — the Gold Coast, Moreton Bay North and Ipswich.
“Property flipping was most prevalent in the Gold Coast, comprising 7.9 per cent of re-sales for properties held between one and two years,” according to CoreLogic’s Flipping Report, released yesterday.
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