More sellers turning a profit than at any other time in the past 15 years | The Business | ABC NEWS

Описание: More sellers of residential houses and units in capital cities are turning a profit than at any other time in the past 15 years.
That's according to listings agency, Domain, which says extraordinary capital growth is providing a buffer against rising interest rates and inflation.
Chief of research and economics at Domain, Nicola Powell says the profits are often in the hundreds of thousands of dollars as house prices rise.
"We are seeing that people are staying in their homes for longer, so that does mean they're reaping the benefits from multiple property price cycles, and we're really seeing that when they go to resell that property, it's (the profit is) hundreds of thousands of dollars," she says.
She says the people benefitting the most are those selling to downsize.
"When you think about 70 per cent of Australia's household wealth is tied to the value of our homes, when you look at that wealth creation, it's really understandable why we can see the increase of the banker mum and dad and that kind of intergenerational wealth transfer," she says.
While Ms Powell says this data shows the people holding onto their homes are likely to be shielded from the impacts of higher interest rates and inflation, the most vulnerable cohort are first home buyers.
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