According to Domain’s Profit and Loss report, house sellers across Australia achieved record profits in the past financial year, with the average gross profit reaching $326,000. An impressive 96% of house sales were profitable, marking the highest level in 16 years, while 90.7% of unit sales were also profitable, the highest in 13 years.

Nicola Powell, Domain’s Chief of Research and Economics, anticipates even greater profits in the coming year as home values continue to rise. “We could see further increases in profitable sales across most capital cities, although at a slower pace,” she noted.

Sydney led the market, with every seller in 32 of 43 suburbs earning over $1 million in gross profits. Sellers in suburbs such as Davidson and Mona Vale saw profits ranging between $1.2 million and $1.3 million.

Outside Sydney, sellers in Melbourne’s Malvern, Adelaide’s Westbourne Park, and Perth’s Rossmoyne also achieved gains exceeding $1 million. Powell concluded, “These results highlight that homeowners are achieving substantial profits, reinforcing property as a reliable avenue for building financial wealth.”