Popular North Shore suburbs recorded some of the highest median gross property sale profits in Sydney during the second half of 2015.
CoreLogic’s Pain and Gain report measures the profits and losses of sellers and calculates the gross profit of an area.
The Ku-ring-gai Council area recorded the highest median gross profit with 98 per cent of vendors achieving profits of more than $720,000 in the September quarter of 2015.
Turramurra was one of the top performing suburbs in the area and achieved a capital growth of more than 5 per cent in this time.
Peter Brack of Century 21 Radar Properties said “many (buyers) grew up in the area and are now returning with their own families for the larger blocks, excellent schools and train access to the city.”
Following closely on the heels of Ku-ring-gai was the Hunters Hill area which grossed a figure of $715,000 in median gross profits on property sales.
Homeowners in the Lane Cove council area and Willoughby also walked away with great gross median profits of $413,000 and $510,000 respectively.
If you’re looking to buy a profitable home on the North Shore make sure you know the condition of the house before you buy. Contact us for a thorough building and pest inspection today.
Photo by FotoSleuth
