The second half of 2012 saw a 7.6 per cent increase in the transactions of residential real estate, with 389,069 dwellings sold across the entire 12 months.
However, national sales were 0.3 per cent down on 2011, while it is 13.7 per cent lower than the five-year average, according to research from RP Data, with the improving second half of last year coinciding with increasing property prices.
Of all the transactions that took place over the calendar year, 72.4 per cent of the sales were for houses, a percentage not reached since 2005.
RP Data's Cameron Kusher explained that there are some interesting trends that can be derived from the figures.
"Interestingly, the proportion of dwelling approvals for units was at an historic high in 2012, despite the fact the proportion of house sales was at its highest level in seven years," he stated.
"Keeping in mind off-the-plan unit sales are not included in the transaction counts until they settle, the actual ratio of house-to-unit sales may be revised."
Improving transaction rates over the latter half of 2012 resulted from the delayed impact of interest rate cuts, with improving consumer sentiment a by-product of that, RP Data said.
