House And Unit Sales Put Up Inspiring Numbers
Interest rates are low and I don’t need to tell you this. Triggered by such low rates, both house and unit sales have registered heartening numbers for the financial year 2012/13. Cameron Kusher for the Property Update reports about RP Data’s statistical estimates.
House and unit sales for financial year 2012/13
In the accounting year 2012/13, 328,903 houses and 122,282 units were sold across Australia. This corresponds to 13.1% hike in house sales and 6.4% hike in unit sales compared to last year. House sales have never been higher in the last 3 years and unit sales were this high back in financial year 2010/2011.
Capital city performance
Capital city house sales, when compared to their last year’s performance, have outperformed the national house sales by more than 1% (registering 14.9%). Unit sales for capital cities are 4.7% higher than the last accounting year.
How has Sydney done?
Sydney, the capital city many expect to be the next hub of Asia-pacific, has accounted for 26.7% of all house sales and 40.3% of all unit sales across all capitals.
You can read the original article here.
An interesting finding for apartment sales
I find one particular statistic interesting and quite in confirmation with my own belief; take a look- while the national level of house sales is 72.9% of overall sales, the figure is 68.9% for capital cities. I know the difference is almost imperceptible but it is important nonetheless.
Why? It is because common perception yields that a house, that great Australian dream, has completely overpowered apartments all across Australia.
Apartments in Sydney have their backers
This however is not the case in capital cities and people are more than willing to find a good urban apartment close to amenities and transport (and preferably in a walkable neighbourhood). This trend is even truer for Sydney and is supported by the now prevalent cafe culture in my opinion.