CoreLogic comes a new report revealing that just under one quarter of Australian capital city houses sold for $1 million or more in 2017, with $1 million-plus sales also outnumbering sales below $400,000:
Across the combined capital cities, 23.8% of all houses and 11.6% of all units sold over the year sold for more than $1 million. The number sold for more than $1 million was up from 21.7% and 9.8% respectively a year earlier. Five years ago just 9.8% of all houses and 3.9% of all units sold for more than $1 million. A greater number of houses sold for more than $1 million over the past year than sold for under $400,000.
The full text of this article is available to MacroBusiness subscribers
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
