Perth's Nedlands leads nation with best resale profit of $467,500

Vendors in the Western Perth suburb of Nedlands managed an average gross profit of $467,500 over the March quarter, making it the highest grossing  re-sale location, figures from RP Data show.

Nearly nine out of ten (89.7%) of properties sold in Nedlands over the March quarter generated a profit.

These properties were held for an average of 8.7 years.

In line with the national trend, the 10.3% of Nedland properties that sold for a loss (the median loss was $25,000) were hold for a much shorter period of three and a half-years, meaning they were bought in late 2009.

The best performing WA location in terms of the proportion of properties that sold for a profit was Vincent on the southern outskirts of Perth where 98.8% of properties sold above their previous selling price with an average gross profit of $207,000

The worst performing location in terms of the proportion of properties that sold at a loss was Kwinana on the southern outskirts of Perth where 15.6% of properties sold below their previous selling price with an average lose of $23,500.