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Property sales soar in 2009

11 September 2009 Reporter

Property sales volumes have jumped by 32 per cent across Australia in the 12 months to 30 June 2009.

Figures from RP Data also showed that the number of homes sold across Australia went from 98,500 in the June quarter last year to 130,000 this June quarter.

Perth recorded the highest improvement in residential sales volumes with home sales now up by almost 60 per cent compared to last year.

Sydney was the second highest performing capital city, with volumes up 38 per cent compared to this time last year.

But despite the increases achieved across the market place, sales volumes remained lower than those achieved during 2007 and were well below the levels achieved during the property boom between 2001 and 2003.

RP Data’s research director Tim Lawless said market volumes would continue to increase over the next quarter before falling away during the festive season.

“Sales volumes are likely to stabilise around historical averages during the first half of 2010 as interest rate rises dampen demand and the level of government stimulus winds down,” he said.

Property sales soar in 2009
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