The Sydney suburb of Mosman has recorded the greatest total value of sales in the year to July 2010.
According to new research by RP Data, 329 properties were sold in Mosman in the 12 months to July for a combined worth of almost $851 million.
Throughout Australia, the total value of dwelling sales eclipsed $213 billion – markedly more than five years ago.
In 2005, the total value of sales across the country equated to more than $165.5 billion – 30 per cent less than 2010.
RP Data analyst Cameron Kusher said these latest statistics highlight both the increasing demand for dwellings and the growth in the values of property during the last five years.
“For vendors, these conditions equate to additional profit to be made from the sale and for the property professionals it translates into additional commission,” Mr Kusher said.
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