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New South Wales tops the charts in property profitability

By Louise Morrin

When looking for a property to purchase in St George, one of the major considerations will be knowing that you're going to be seeing strong, long-term growth – and that is exactly what we offer in Carlton, according to a new CoreLogic RP Data Pain and Gain report.

Bringing the heat

There is still some life in the Sydney market yet, as the most recent CoreLogic report has revealed that 98 per cent of those people who sold their houses in the December 2015 quarter made a profit on their sale, while only 2 per cent lost out.

This is the best result for any region or capital city, with only Melbourne coming close to similar results in houses, with 97.5 per cent of sales giving their vendors a better sales price than their original purchase.

Looking at units, the strength of Sydney growth is even more obvious. Almost every single unit sold in Sydney, 98.3 per cent, was a profitable transaction – well above the reported capital city average of 92.1 per cent and miles ahead of the regional proportion at 80 per cent.

Why the excellent results?

You may be wondering why Sydney has seen such excellent sales figures for owners of property in places like St George. While many of these sales will be a result of savvy buyers managing to score a bargain, the vast majority is likely due to the massive year on year growth Sydney as a whole has seen.

Carlton, for example, has experienced a whopping 22 per cent year on year value growth in houses as of February 2016, according to Residex data. Selling property in Carlton should be on any savvy investor's radar at this point in the year.

Are you looking to cash in on your property investment in Carlton? Get in touch with the team at Ray White, the local experts in St George real estate.

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