Total property sales in Australia to July 2010 amount to $213 billion
Curious about just how much property has been sold in dollar terms in Australia over the past 12months? In the rpdata.com weekly Property Pulse released today, analyst Cameron Kusher analyses those suburbs which have had the greatest total value in sales. Surprisingly, it’s not the premium markets that are recording the highest gross value of home sales as one might expect.
Today’s results show that the total value of dwelling sales across the country was an impressive $213 billion for the year to July 2010. As a comparative benchmark - just five years ago the total value of sales across the country equated to more than $165.5 billion – this equates to healthful increase of 30 per cent.
Across the country, the suburb to record the greatest total value of sales during the year was Sydney’s Mosman which now holds a median price of $2.1 million. Mosman had 329 house sales during the last year which accounted to almost $851 million worth of property transactions - less than 0.5 per cent of the total value of property transacted during the last 12 months.
Assuming an average agents commission of 2.5 per cent, this equates to almost $21.3 million worth of commission within the suburb.
When conducting today’s national sales analysis, Mr Kusher said it was interesting to see a trend across those suburbs that have recorded the greatest total value of sales for houses; only one of the top five performers in each state has recorded a fall in median price over the last 12 months and that was Mosman Park in Perth.
Credit:Mitch Koper Download PDF file for the full report of this media release here.
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