with many homes under the hammer this weekend, australian capital cities can expect record breaking profits on their properties at auctions across the country a pain and gain report released by corelogic for the december quarter has revealed that home resales recording a gross loss were at an all time low with more properties making a decent profit when being compared to their prior purchase price, only 86 percent of homes had recorded a loss and a shocking 323 percent had shown properties selling for more than double their original price this home at 14 ridge street in south perth was bought for 925,000 and rebuilt by the owners after knocking down the original home  it will go for auction between $3 and $4 million, with the current expected price being left as a surprise  the home is three storeys with garage parking for three cars and was built in 2007  it boasts 5 bedrooms, 4 bathrooms, library and fully fitted laundry, cellar, and home theatre  the total value of these profit making resales was over $17 billion, three and a half times more than the total of the loss making resales at only $418 million this made the average profit made on each of the successful properties was $251,696 with the average loss on the unsuccessful homes being $65,435 this is pretty good for those looking to sell up in capital cities, but not so good for those seeking to buy the report showed that sydney recorded the lowest loss making resales at just 24 percent over the quarter which is down from 35 percent in a year perth and melbourne also saw extremely low resale losses of 55 percent and 56 percent respectively however this change in the market has not yet caught on in regional areas an example of huge price increases – and profit margins for sellers – include a property at 6 dudley st bondi, purchased for $146 million in 2005 by and is expected to get over $3 million at auction this weekend another is a home at 14 ridge street in south perth bought for 925,000 and rebuilt by the owners who are expecting to more than double the purchase price at auction on saturday this property at 6 dudley st bondi was purchased for $146 million in 2005 by the owners and is expected to get over $3 million at auction this weekend  the property boasts stunning beach views and is placed directly between tamarama and bondi beach  it is less than a five minute walk to the beach and 4 large bedrooms with built ins and a media/ tv room  perth and melbourne also saw extremely low resale losses of 55 percent and 56 percent respectively however this change in the market has not yet caught on in regional areas diane sheppard from lj hooker has told daily mail australia that generally in brackets over $800,000 there is not a profit to be made 'western australia market is quite different,' she said 'it's all about positioning in central areas and buying at good value' this warehouse at 1/16 18 bennetts lane melbourne is up for auction this weekend with offers over $850,000  it is positioned in one of melbourne's best known laneways and has off street parking for two cars  melbourne properties have seen extremely low resale losses of 56 percent  melbourne homes are held for longer than any other capital city with an owning period of nearly 12 years this report has come with the news that the typical home in australia is now owned for over ten years before it is resold across the regional market, homes tend to sell more regularly than in capital cities at the end of 2014, homes were being owned for 10 years, whereas at the end of 1013, it was 96 years melbourne homes are held for longer than any other capital city with a current owning period of nearly 12 years in nsw, areas such as auburn, burwood, canada bay and snowy river have the longest average owning periods ku ring gai and strathfield recorded the shortest holding times
over ten years just 24 percent a year over $17 billion only 9 percent sydney third 35 percent melbourne last quarter
a report has shown that only 9 percent of homes in last quarter have recorded a loss at their sale with nearly a third selling for double what owners paid  the total vale of these profitable resales was over $17 billion three and a half times more than the total of the loss  sydney recorded the lowest loss making resales at just 24 percent which is down from 35 percent in a year  the typical home is now owned for over ten years before it is resold with melbourne homes being held longest 