Gold Coast records huge profit on property sales

first_imgGold CoastMore from news02:37International architect Desmond Brooks selling luxury beach villa18 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoGOLD Coast homeowners are making more than $480 million in profits with new figures confirming a booming property market.The latest CoreLogic Pain and Gain report reveals nine out of 10 property owners made a profit in the December quarter.More than 90 per cent of sales recorded a total profit of $482,076,853 while 8.2 per cent of sales recorded a $15,613,522 loss.The quarterly report tracks home sales across Australia and reveals the proportion of sales being sold at a profit versus those being sold at a loss.“With property values continuing to increase over the final quarter of 2017, albeit at a more moderate pace, the proportion of properties resold at a profit has continued to climb,” Research analyst Cameron Kusher said.last_img