Houses Dominate Dwelling Sales

In the year to 1 February, there were 459,308 properties transacted across Australia. Most of these sales were houses rather than units, according to CoreLogic.

The research firm says it’s not unusual for house sales to comprise the majority of transactions, with houses making up an average 70.2% of annual sales volumes over the past decade.

However, the share of houses as a portion of sales increased to 74.2% in the past year, up from 73.2% a year ago and 66.7% five years ago. “For every unit sold over the year, there were 2.9 house sales,” says CoreLogic’s Eliza Owen.

Most capital cities and rest of state regional areas saw the portion of house sales elevated in the past year, compared with the decade average.

“The introduction of HomeBuilder may have skewed demand toward houses,” she says. Since HomeBuilder started in June, new home sales have climbed. According to the HIA, new home sales in the December 2020 Quarter were almost double the level in December 2019.