Housing turnover reaches the highest level in nearly 12 years

CoreLogic estimates there were almost 598,000 house and unit sales across Australia over the year ending August 2021; the highest number of annual sales since 2004 and a 42% lift on the annual number of sales over the previous 12-month period.  Nationally, the number of dwellings sold over the past year was 31% above the decade average and 24% higher than the 20-year average.

Across the states, annual home sales are substantially higher than a year ago, with every state and territory, apart from Tasmania, recording a lift of more than 10% in year-on-year home sales.  The smaller increase in sales across Tasmania, where advertised supply was tracking approximately 35% below average at the end of August, is probably more attributable to a lack of supply than a shortage of demand.

Source: CoreLogic