Australian Property Profits up Despite Lockdowns

Australian Property Profits up Despite Lockdowns
A 'sold' real estate sign is seen outside a high-rise apartment block in the suburb Kirribilli in Sydney, Australia, on May 8, 2021. Lisa Maree Williams/Getty Images
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Australia’s real estate resilience has kept on keeping on despite the ravages of COVID-19 but can’t last indefinitely, according to a leading property data specialist.

The rate of profit-making resales across Australia rose to 92.4 percent in the September quarter, up 50 basis points from the previous three months and the highest returns in a decade.

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