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The number of properties sold all over Australia jumped by a hefty 32% for the 12 months ending June, thanks to strong activity from first homebuyers and investors according to rpdata.com.
Perth notched up the strongest recovery with residential home sales soaring by almost 60% compared to a year ago.
"This future is looking brighter for Perth as the resources sector once again picking up and a modest degree of capital growth returning to the market," said Tim Lawless, rpdata.com national research director. "However, it's important to remember that the market is coming from a low base. In June last year, sales volumes were almost 70% lower than the five-year average and values have declined more than any capital city."
Sydney recorded the second highest improvement in residential sales volumes, rising by 38% compared to a year ago. Brisbane sales were up by 35%, Hobart rose by 34%, Darwin sales increased by 32% and Melbourne climbed by 30%.
Adelaide achieved the lowest sales volumes at just 9% increase over the same period.
"Adelaide's recovery is taking a longer time; the June quarter sale volumes lift by almost 20% as the Adelaide market falls into line with the movements in other capital cities," said Lawless.
Properties priced between $400,000 and $500,000 have captured the broadest mix of buyers. The proportion of sales in this price range has increased to 21% from 17% of all sales.
