Best start to a year since 2009
The first three months of 2014 recorded the highest number of quarterly home sales in five years.
RP Data figures indicate 82,051 houses and 30,417 units were sold between January 1 and March 31.
The start of the year accounted for a 7.9% increase on house sales volumes for the equivalent 2013 period. Buyers were also drawn to units, with sales up four per cent on the comparative period.
RP Data’s research analyst Cameron Kusher labelled the period the strongest first quarter volume of sales for houses since 2009 and the best first quarter for units in four years.
Speaking to AAP, Mr Kusher said sales volumes were traditionally lower at the start of each year. He said there was a historic rush in the lead up to Christmas, but activity usually tapered off in January.
“With the quarterly rate of home value growth having most recently peaked in September 2013 and quarterly sales having peaked shortly thereafter in November, it will be interesting to watch what happens to sales and values from here,” Mr Kusher said.
The big changes
• Brisbane’s sales volumes rose 21.1% over the quarter
• Adelaide’s sales volumes rose 10.8%