why house sales vastly outstripped unit sales over the year
In the year to January, CoreLogic estimates that there were 459,308 properties transacted across Australia. Most of these sales were houses, rather than units.
It is not unusual for house sales to make up the majority of transactions, with houses making up an average 70.2% of annual sales volumes over the past decade. However, the share of houses as a portion of sales increased to 74.2% in the year to January 2021, up from 73.2% a year ago and 66.7% five years ago. Another way of thinking about it, is that for every 1 unit sold over the year, there were 2.9 house sales.
The map below shows the portion of sales over the year that were houses, compared with the decade average, for various regions. Most capital city and rest of state…