National housing sales volumes still below average, but improving

Housing sales volumes across Australia have begun to improve, however, they remain well below average levels.

Over the 12 months to August 2013, RP Data estimates that there were 449,054 house-and-unit sales across the country – the highest number of annual sales since November 2010.

Its quarterly report, released today, says that, over the three months to last August, 87,948 houses and 33,014 units were sold nationally.

Based on house sales over the most recent three months, transactions are currently 18.3% higher than a year ago. The report says the number of unit sales over the past three months was 15.8% higher than a year ago.

Quarterly sales volumes have been trending higher since July of last year, in line with the rise in home values over that time.

staylor@propertyobserver.com.au