All states registered drops in residential settlements in the Sep-22 qtr
Continued interest rate rises and high inflation weighed on buyers, who were cautious not to overextend themselves, resulting in fewer transactions.
NSW saw the largest declines in both volume and aggregate value
NSW residential settlements were down 13.0% on the Jun-22, pointing to the fact that the state was further advanced in the current market slowdown than the rest of the country.
Although commercial settlement volumes were down from Dec-21, they have steadied
VIC commercial settlement volumes were up 1.2% in the most recent quarter. This suggests a lesser impact of rising interest rates on the commercial property market, and highlights ongoing confidence in the sector.
This report aims to provide a comprehensive view of property settlement trends in Australia, highlighting both volumes and aggregate values for sale settlements in key states. We trust you will find the unique data and insights in this report valuable and we hope it delivers a new perspective on the health of the Australian property market.
Download the PEXA Property Insights Report – September Quarter 2022
This report covers the eastern states of NSW, VIC, QLD & WA. Settlement figures quoted are total settlements, they include all digital and paper-based settlements for residential and commercial property unless otherwise stated. Non-monetary settlements such as family transfers or gifts have been excluded.