A new report by CoreLogic revealed the September quarter saw the highest level of profitability for property sales in more than a decade. The rate of profit-making resales across Australia rose 92.4 percent during the three months and was the fifth consecutive quarter where the rate of profit-making sales increased. The national median gain was $270,000 (US$195,000), with total resale profits at $27.3 billion (US$19.7 billion). The median loss was $37,000 (US$26,700), for a total of $368 million (US$265 million) worth of losses. Corelogic Head of Research, Eliza Owen, said it was a remarkable result given the lockdowns across the Eastern states during the quarter. “The increase in the rate of profit-making sales is a reflection of strong capital growth across Australian dwelling markets despite COVID-induced disruptions to transaction activity,” she said. With hard lockdowns affecting Australia’s two most populous states, the number of transactions during this period had fallen …