More home sales in the Ballarat area resulted in a profit for their vendors than in any other part of Australia during the June quarter, according to new figures from CoreLogic.
The Ballarat region recorded a record high level of profitability during the quarter, with 99.7 per cent of sales resulting in a profit, according to the CoreLogic Pain & Gain report.
Regional Victoria as a whole also recorded a record level of profitability, with 98.7 per cent of resales making a nominal profit in that market.
Other top-performing markets included the Bendigo region, with 99.5 per cent of sales resulting in a profit, and the Latrobe-Gippsland region, with 99 per cent of sales resulting in a nominal gain.
Nationally 91.5 per cent of resales during the June quarter recorded a nominal gain - the highest level of profitability in more than a decade.
The median hold period for properties included in the report was 8.8 years, with a median gross resale profit of $265,000.
CoreLogic's Head of Research and report author Eliza Owen anticipated that the high levels of profitability would continue nationally for some time, though the slowing in capital growth rates meant that future losses were a possibility.
"While profitability is expected to trend higher across Australia in the coming quarters, it is clear that the rate of profit-making resales mirrors the trends we're seeing in city and regional capital growth rates," Ms Owen said.
"As the rate of increase in values slows, as we have started to see each month since April, so too will the momentum in profitability. We're monitoring a number of headwinds that may drag on, or even reverse housing market growth in the medium to long term, including affordability constraints, a tighter credit environment, a resurgence in listings volumes, and some economic factors including a slowdown in the resources sector."