Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Capital cities dominate property sales

Staff Reporter 4 minute read

Staff Reporter

Recent data from the Australia Bureau of Statistics found that the majority of Australians now live in the capital cities.

As at June 2009, 62.8 per cent of Australians lived within a capital city region.

As such, it is fair to assume, that the majority of properties bought and sold now occur within the capital cities.

Advertisement
Advertisement

But while these regions account for a large portion of sales, RP Data’s research analyst Cameron Kusher said these properties only occupy around 0.5 per cent of Australia’s overall land mass.

Nationally, during November 2010, 62.8 per cent of house sales occurred within the capital cities and 77.1 per cent of units sold were within a capital city.

Sydney played home to the greatest proportion of overall sales, accounting for 25.9 per cent of all sales nationally, or more than one of every four sales.

Sydney was followed by Melbourne, which accounts for 17.9 per cent of all sales nationally and then Brisbane with 10.3 per cent.

Based on this data, the three largest capital cities account for approximately 50 per cent of the country’s dwelling sales each month.

PROMOTED CONTENT


“No wonder so much of the property market analysis is focused on these three cities,” Mr Kusher said.

“Unlike many other countries, Australia’s population is focused within a few areas and this seems unlikely to change any time soon.”

Capital cities dominate property sales
default
TheAdviser logo

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

default

 

more from the adviser
ASIC TA ASIC levy reflects ramped up enforcement: FBAA

ASIC’s raised industry funding levies reflect higher enforcemen...

money piggy 2ad3 Lockdowns threaten business loan demand: Equifax

Construction and retail trade have fuelled business loan growth i...

mortgage money house 48% of home loan applicants frustrated by paperwork

The majority of Australian borrowers think applying for a home lo...