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Home sellers in Redland, Queensland will be rubbing their hands as they walk to the bank, as properties are fetching the highest profits.
The CoreLogic and Gain report revealed Redland, Lockyer Valley and Moreton Bay had the lowest number of properties in Queensland sell at a loss in the June quarter.
"Redland City is a bustling and expanding region, appealing to a wide range of demographics, so it's little wonder it's performing so well," REIQ CEO Antonia Mercorella said.
"This is evidenced by its high level of local migration, with REIQ data showing multiple Redland City suburbs appearing in the top 20 destinations for new resident arrivals in Queensland."
The report shows Redland has the most expensive housing outside the Brisbane local government area, with a median value of $520,000.
"The Redlands' proportion of profitable resales was higher than the national average with 90.7 per cent of sales making a profit, compared with 89.7 per cent across Australia," Ms Mercorella said.
However, Scenic Rim, Somerset and Brisbane did not bring vendors the best results, delivering the high number of properties making a loss.
Brisbane fell short of the national average with only 87 per cent of properties selling with a profit.
"Brisbane has seen an extraordinary number of unit and apartment complex developments over recent years," Ms Mercorella said.
"Although an increasing number of Queenslanders are choosing apartment living, supply has far exceeded demand, and this has driven prices downwards."
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