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Low interest rates have driven a surge in house and unit sales in the 2012/2013 financial year, according to sales estimates produced by RP Data research analyst Cameron Kusher.
According to the RP Data research, houses recorded the highest increase over the year at 13.1 per cent, with 328,903 sold, while units recorded an increase of 6.4 per cent, with 122,282 sold.
Mr Kusher said the increase in activity over the past year was a result of the low mortgage rate environment.
“From here, we expect further sales increases throughout the 2013/2014 financial year given that mortgage rates are anticipated to remain at low levels,” he said.
“This will likely create greater confidence and encourage an increase in the levels of investment in housing both from owner occupiers and investors,” Mr Kusher said.
