The property market remains in the hands of the buyers

CoreLogic's latest Pain and Gain report shows resale profits have dropped to 92.1 percent in the second quarter - the lowest figure since 2015.

Properties resold at a loss were owned for a median of only 2.7 years.

Chief Property Economist Kelvin Davidson says despite it being a buyers market, there's still a lot of listings.

He says it reflects the fact people can't always choose when they want to sell.