More Australian homeowners selling quickly but making a loss in the process

More Australian homeowners are selling up quick but failing to make a profit in the process.

The median amount lost on the resale was $30,000.

Darwin had the most loss-making resales of the capital cities, with 34.4% of homes being sold for less than they were initially bought.

Perth followed in second at 12.3%, while Adelaide was the most profitable city with only 1.8% of sales coming at a loss.

But those who choose not to sell are staying in their homes for longer, according to a Domain report released on Thursday.

The median tenure for houses in Australia has increased to nine years in 2023, up from seven years a decade ago.

Darwin, Sydney, Perth and Canberra all had longer tenures than the national median, while Hobart had the shortest tenure at seven years.

Overall, 96.3% of Australian houses are being sold at a profit in 2023, the Domain report found.

That figure is as high as 99.4% in Canberra and 99.3% in regional Victoria.