WHEN it comes to making a profit, sellers of homes close to Brisbane’s CBD are rubbing their hands with glee.
CoreLogic has released its most profitable suburbs list based on resales over the three months to August and Camp Hill notched the highest average gain, followed by Wooloowin and Wilston.
All thirty of Brisbane’s top profit-making suburbs recorded 100 per cent profitable resales with the average gain stretching from $456,109 (Camp Hill) to $177,179 (Banyo).
Only two suburbs inside the top ten, Wishart and Sandgate, were outside a 10km radius of the CBD.
CoreLogic RP Data senior research analyst Cameron Kusher said, looking at the bigger picture, the number of profit-making sales in Brisbane had increased a little bit.
“Just because obviously the market is seeing some growth, almost everything in that list is within the Brisbane council area.
“It does show that closer to the city is performing much stronger than areas further afield.”
Nationally, the data reflects a similar story.
“The proportion of loss making sales is generally trending lower at a national level and more so in the capital cities,” Mr Kusher said.
“I guess that is a reflection of the overall housing conditions we have seen over the last 12 months, obviously there has been a little bit of weakness more recently.
“Generally speaking values have been rising over most capital cities, Perth and Darwin have been the exceptions.”
John Buchanan recently put his Camp Hill home of nine years on the market and isn’t surprised to learn all sellers in the suburb, over the three months to August, sold their property for more than they originally paid.
“We’ve lived in the area for a long time and Camp Hill seems to be premium real estate pricing for a few years,” Mr Buchanan said.
“I’m on the lower spectrum, being on Stanley Rd, and that was my expectation over time that we’d make a decent profit.”
Mr Buchanan purchased 67 Stanley Rd for about $500,000 in 2006 and it’s currently listed for offers above $745,000.
“If it was a street back I’d expect about $200,000 more,” he said.
“Over the last couple of years we moved and rented it out but part of that initial decision was to get in a better suburb for the future.”
The Buchanans now live in Carina which shares the same 4152 postcode as Carina Heights, another suburb to make the most profitable suburbs list.
“It’s another suburb going crazy,” Mr Buchanan said.
“That’s what I like about that area — locality and services — the buses are good, it’s quick and easy.”
Gary Stowe from Belle Property Carina is the marketing agent for 67 Stanley Rd.
Mr Stowe said sales have been strong in the suburb.
“Whenever we do have a house for sale they always show a lot of activity,” he said.
“The demographic is interesting because as expensive as the properties are we’re still getting a lot of young couples coming in and buying.”
CoreLogic RP Data shows Camp Hill is a high demand market with 1118 visits per listing per month for the year to November 30.
In comparison, the average visits per property across Queensland were just 206 per month.