Greater Melbourne profitability tops Melbourne: CoreLogic Pain and Gain

The Greater Melbourne region has seen more profitability in their property markets than Melbourne, according to the recent CoreLogic Pain and Gain report.

“These include Hobsons Bay, Melton and the Mornington Peninsula, where around 98 per cent or more properties sold for a profit," the report read.

During the quarter, the median profit in the region averaged $328,000, demonstrating the diversity of performance in Greater Melbourne.

Regional Victoria only recorded 3.3 per cent of loss-making sales across all unit resales, compared to the Melbourne LGA’s 15.4 per cent.

Regional Victoria was one of four major regions across Australia where owner occupiers saw a higher incidence of loss-making sales than investors, along with Hobart, regional Tasmania and regional Northern Territory.

You can read about the Melbourne council region report here [link to Pain & Gain Melb story].