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$1.5 million in a year: making a killing flipping luxury homes in Sydney, Melbourne and Brisbane

Share Rich owners are raking in millions of dollars in gains by reselling luxury homes as little as seven months after buying them to take advantage of rapid price rises at the upper end of the market. While real estate held over the long term typically delivers bigger returns, the surge in house prices in recent months has made flipping them more quickly enormously profitable. In Sydney, the vendor of 3/85 Raglan Street in Mosman grossed $1.5 million in selling the property for $6 million afte...
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Source: afr.com

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