Sales turnover soars to new heights

By Staff Reporter
Sales turnover soars to new heights

House and unit sales are at their highest levels in four years, but RP Data predicts these volumes may begin to taper over the coming 12 months.

In the last financial year, house sales increased by 10.4 per cent while units sales climbed by 8.6 per cent, according to figures from RP Data.

In total, 348,670 houses and 135,330 units were sold in the period, the highest level since 2009/2010.

The greatest increases were in Tasmania and Queensland, where sales are up by 21.3 per cent and 14.8 per cent respectively.

Turnover also increased by 12.9 per cent in New South Wales, 7.5 per cent in Victoria, 9.3 per cent in South Australia and 0.3 per cent in ACT.

Only two states saw a decline – the Northern Territory, where activity eased by 0.2 per cent and Western Australia, where sales were down by 1.3 per cent.

However, RP Data senior research analyst Cameron Kusher said this strong performance was unlikely to last into the next financial year.

“Looking to the current financial year, interest rates are expected to remain on hold at least to the end of 2014 but potentially starting to rise during 2015,” Mr Kusher said.

Sydney and Melbourne sales volumes appear to have already peaked however, they may rebound once more during spring.”

“Overall we would expect a reasonably high number of sales this financial year however, final numbers may be slightly lower than in 2013/2014.”

Sales turnover soars to new heights
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%