PEXA Property Insights Financial Year 2022

Settlement highlights

Whilst the property market grew in FY22, headwinds emerged in the second half of the year.

All Eastern states recorded growth in FY22 compared to the prior year, in both volume and aggregate value of sale settlements, for residential and commercial property. This strong result was driven by an exceptional first half of the year, with a noticeable drop off across all states in the second half.

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QLD recorded the highest volume of residential sale settlements in FY22, with the sunshine state recording over 220K.

NSW posted the highest aggregate value of sale settlements at $238.5B.  This was up 28.8% year-on-year and well ahead of VIC in second place with $167.1B

All eastern states saw a noticeable decline in residential sale settlement volumes in the second half of FY22. NSW (-17.8%), QLD (-12.8%) and VIC (-5.9%) all experienced drops in line with the softening market.

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VIC recorded over 13.6K commercial sale settlements in FY22, higher than any other state.

This was up 24.0% and the second year in a row the state topped commercial property transactions. $39.6B of commercial property was settled in NSW in FY22. QLD saw the highest growth in aggregate value, up 108.5% during that period.

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Methodology

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.

Disclaimer

This document provides general marketing information, and is not intended to be an investment report nor does it constitute financial product advice. The data used in this document is a combination of PEXA data and data acquired from third parties. Any opinions, conclusions or recommendations in this document are based on the information available at the time of its compilation. No representation or warranty, either expressed or implied, is made or provided as to the accuracy, reliability or completeness of any statement made in this document. Any opinions, conclusions or recommendations in this document are subject to change (without notice) and may differ or be contrary to the opinions, conclusions or recommendations expressed by other analysts. Any valuations, projections and forecasts here in are based on a number of assumptions and estimates and are subject to contingencies and uncertainties. Different assumptions and estimates could result in different results. PEXA does not represent or warrant that any valuations, projections or forecasts, or any of the underlying assumptions or estimates, will be met. PEXA is under no obligation to, and does not, update or keep current the information contained in this document. PEXA accepts no liability for any loss or damage arising out of the use of all or any part of this document. All material presented in this report, unless indicated otherwise, is subject to PEXA’s copyright. None of the content may be altered in anyway, transmitted to, copied or distributed to any other party, without PEXA’s prior written permission.

Information used to compile this report was sourced from the PEXA System with the approval from the Registrar of Titles in relevant jurisdictions. The relevant State Governments do not accept any responsibility for the accuracy or completeness of the information or its suitability for any purpose.