Churn baby, churn (a follow-up)

Following on from last night’s article on the relationship between home sales and home prices, a few readers asked me how the charts looked for the smaller capital cities, namely Canberra and Darwin.

I originally left these cities off the original article due to time constraints as well as the fact that annual sales data was not available from Australian Property Monitors (APM); although quarterly data dating back to 2002 is available from the Australian Bureau of Statistics (ABS).

For completeness, please find below charts of home sales versus prices for Canberra, Darwin and Hobart.

Like for the major capital cities, there appears to be a reasonable correlation between home sales and prices, with sales tending to lead prices.

Cheers Leith

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Unconventional Economist
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