Brisbane sales booming, Perth plummeting

Brisbane sales booming, Perth plummeting

11 June 2014 by Staff Reporter 1 comments

House sales have reported annual rises in most Australian capitals, although quarterly figures hint at a possible downturn.

RP Data has reported there were 50,426 houses sold in Australia’s capital cities for the 12 months to 31 March 2014, which was 7.9 per cent higher than the year before.

Brisbane recorded the greatest annual growth in house sales, with 23.6 per cent, followed by Adelaide with 13.6 per cent and Sydney with 13 per cent.

There was also growth of 11.2 per cent for Canberra, 6.0 per cent for Hobart and 2.8 per cent for Melbourne.

Darwin house sales fell by 6.0 per cent, while Perth sales fell by 5.9 per cent.

Unit sales in Australia’s capitals also grew 1.2 per cent to 22,105.

The star performers were Darwin, with 23.3 per cent growth, and Brisbane, which recorded a 15.2 per cent jump in sales.

Melbourne grew by 8.1 per cent, Adelaide by 2.4 per cent and Hobart by 0.8 per cent.

Three markets went backwards: Canberra fell by 23.9 per cent, Perth by 17.6 per cent and Sydney by 1.7 per cent.

RP Data research analyst Cameron Kusher said the March quarter was the strongest quarter for house sales since 2009 and the strongest for units since 2010.

Sales declined from the December quarter, although he noted that volumes generally drop in the New Year due to a lack of activity throughout most of January and often into February.

“With the quarterly rate of home value growth having most recently peaked in September 2013 and quarterly sales having peaked shortly thereafter in November, it will be interesting to watch what happens to sales and values from here,” he said.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
William Phillips on how agents can expand their database and grow their business

In this episode of Secrets of the Top 100 Agents, host Tim Neary is joined again by William Phillips to discuss the real estate database and...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?