The ongoing increases in dwelling values over recent years has led to a significant reduction in the proportion of sales occurring below $400,000.
In last week’s Property Pulse we looked at the proportion of dwellings selling for at least $1 million and showed how it has increased significantly over recent years. This week we look at the other end of the spectrum how the lift in values has led to a significant drop in the proportion of dwellings selling below $400,000.
Across the nation, 31.2% of houses and 37.3% of units sold transacted for less than $400,000. By comparison, a year ago the proportions were recorded at 32.8% for houses and 38.6% for units. A decade ago, 62.4% of all house sales and 68.9% of unit sales were priced below $400,000.
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