The 2023-24 financial year proved lucrative for Australian property owners, as a robust market and the natural appreciation of real estate led most sellers to walk away with significant gains. According to recent data from Domain, a remarkable 96% of homeowners across Australia sold their property for more than the original purchase price.
In fact, the share of sellers making a profit was the highest it had been in 16 years. On average, house vendors netted a median profit of $326,000.
Breaking it down by region, 96% of house sellers in capital cities achieved a median profit of $395,000, while 96.1% of those in regional areas gained $245,000 on average.
Unit sellers also saw healthy returns, although slightly lower than houses. Nationwide, 90.7% of unit owners sold at a profit—the highest proportion in 13 years—with a median gain of $171,000. Within capital cities, 89.4% of unit sales were profitable, with a median profit of $163,000, while regional unit sellers enjoyed a median profit of $196,000 in 94.6% of transactions.
Domain’s Chief of Research and Economics, Nicola Powell, noted that the widespread increase in property prices was a driving factor behind these profitable sales. Powell also highlighted the difference between houses and units, explaining that houses tend to appreciate more rapidly, in part due to longer ownership periods and the different growth cycles in housing markets.
“The gains we’re seeing highlight the importance of property ownership in securing long-term financial stability. As homes continue to rise in value, owning real estate remains a powerful asset,” Powell said. She emphasized the need to ensure that property remains accessible and affordable for all Australians to benefit from these trends.
