Property Futures

Real Estate News, Reviews and Investment

Home sales in Australia continue unabated

News: Most markets show positive upswings; a few show downturns. </bubble>

The latest data from the Housing Industry Association which acts as the principle voice of Australia’s residential building industry shows that detached house sales have increased 

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Upswings and downturns

Sales of detached houses were up 7.1% in New South Wales, 6% in Victoria, 3.8% in Queensland and 12.2% in Western Australia. However sales were down 1.8% in South Australia. Different figures appeared for Q4 December 2012. Detached house sales were up 14.4% in New South Wales, up 9.3% in South Australia, and up only 2.5% in Western Australia. In Victoria sales were down 8.4% and down 5.5% in Queensland.

 

Percentage ratings

Overall, housing prices increased in the capital cities in all states in Q4, 2012 as follows:

  • Hobart 4.7%
  • Darwin 2.7%
  • Hobart 4.7%
  • Melbourne 2.4%
  • Canberra 2.1%
  • Sydney 2%
  • Brisbane 0.3%

 

In December 2012, the low but stable rise in the price of housing was essentially driven by the sale of both detached and multi-unit accommodation. Added to this was the broadly based nature of the sales increase of detached houses in December, which up to that time was languishing behind. All states but one showed increases in their housing sales figures.

 

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