CoreLogic reports that 94.3% of home sellers made a profit in the first quarter of this year

That’s the highest rate in 14 years and comes despite economic pressures and high mortgage rates, as rising home prices continue to benefit vendors.

During this period, there were about 85,000 property resales, which is an 8.5% increase from last year. At the same time, national home values rose 1.7% in the quarter.

CoreLogic’s head of research Eliza Owen said this boost in profitability was helping shore up financial stability for many property owners as they face rising mortgage costs.

In terms of capital city performance, Adelaide and Brisbane led the way with the lowest percentage of sales at a loss, both at only 1.6%.

At the other end, Melbourne saw the highest percentage of sales at a loss among the major cities, at 9.2%, which is a slight increase from 8.9% in the previous quarter.

Loss-making sales in Sydney were at 8.4%.

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