REA reports home sales increase by 60 per cent in June compared to previous years

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Sales have remained steady and are over 60 per cent higher than in 2020 and 2019, according to new Real Estate Australia Insights Housing Market Indicators Report.

The REA Insights Housing Market Indicators Report July 2021 combines eight key metrics to provide an up-to-date view of the property market and emerging trends.

The report analyses consumer behaviour in real time by extracting property market insights from the 12 million Australians who visit realestate.com.au each month.

Key metrics include search activity, email enquiry, views per listing, weekly sales of properties listed for sale on the website, days on site of properties sold, filtered searches by price and by bedroom, and developer enquiry.

There were 8.7 per cent more preliminary sales than the previous week, despite COVID-19 lockdowns across the country.

Over the first 27 weeks of this year, preliminary weekly sales were 60.7 per cent higher than the same time period last year and 68.7 per cent higher than the same period in 2019.

REA Group Director of Economic Research Cameron Kusher said the property market remained buoyant in June as prices continued to rise and sales activity was strong.

“All indicators have continued to outperform previous years and remain at historically high levels,” Mr Kusher said.

“There has been a clear cooling of the market over recent months, which is to be expected at this time of year during what is typically a quieter period for the housing market.

“COVID-19 lockdowns across the country may have had some impact but activity is relatively strong despite the market not returning to its pre-Easter strength.

“Demand has eased slightly but properties for sale are still tight so are expected to continue to sell quickly. Views per listing levels are likely to remain comparatively high to similar winter periods.”