According to Cameron Kusher at realestate.com.au, property sales at or in excess of $1 million have surged so far in 2021 with even larger increases for properties prices at or above $3 million:
We’re currently 38 weeks into 2021 and the number of preliminary sales so far this year is 48.8% higher than over the same period in 2020.
The states with the largest year-on-year increases in cumulative weekly sales so far this year are the Northern Territory (71.9%) and Western Australia (59.9%). The smallest increases having been recorded in Australian Capital Territory (19.3%) and Tasmania (24.4%).
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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.
