“Or a lot of the time as well we’ve had investors that have said, ‘Yeah, we want to retire,’ or, ‘We need to get rid of it because it’s costing too much for us to keep the property now.'”
CoreLogic data prepared exclusively for ABC News shows the percentage of properties being sold after being owned for fewer than two years is at a nine-year high.
In April, 8.3 per cent of properties that were sold had previously changed hands within the past two years, a steep increase since a pandemic low in mid-2021.
Almost 14 per cent of homes sold across Australia in April had previously changed hands within the three years prior.
Hobart had the highest portion of properties resold within three years, at almost 16 per cent, followed by Brisbane (15.2 per cent) and the ACT (13.9 per cent).
Brisbane and Hobart were also the stand-outs for properties resold within two years, with almost one in 10 properties in the Queensland capital changing hands within 24 months of their last sale.
Ms Jones says most of her clients are still doing OK out of their sales, at least before considering transaction costs and taxes.
“A lot of the time we are finding that people are still making profits on their properties,” she says.
CoreLogic’s head of Australian research, Eliza Owen, says a quick turnover of properties generally spikes during booms, as investors flip homes for a fast profit.
“Historically, it is unusual for properties to be selling if they’ve only been held for a short period of time when capital growth conditions are weak,” she observes.
“The last time we saw a strong instance of short-term resales was when you had really low interest rates, consistent capital growth and basically a booming property market.
“In many instances, what was happening was that investors would purchase a property, hold it until the interest-only term was up and then resell it, in most instances for a profit.”
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